Urovant Sciences Ltd. (Nasdaq: UROV) has named board member James Robinson chief executive, replacing founding CEO Keith Katkin, who will remain an adviser to Urovant.
Urovant is developing a medication called vibegron to treat overactive bladders, for which there are more than 30 million Americans with symptoms. The Food and Drug Administration in early March accepted for review the company’s new drug application with Dec. 26 as a “goal date” for a decision.
Robinson’s background includes overseeing the commercial launches of two of the most successful overactive bladder therapies in the U.S. when he was president of Americas Operations at Tokyo–based Astellas Pharma Inc. (TYO: 4503), where he oversaw approximately $4 billion in revenue generation, Urovant said.
Robinson was recently president and chief operating officer Paragon Biosciences LLC; he was also CEO at Qlarity Imaging LLC, a Paragon portfolio company.
In January, Urovant inked a deal with Sumitomo Dainippon Pharma Co. (TYO: 4506), which is lending $300 million loan to repay prior debt and help the commercialization of vibegron in the U.S.
Sumitomo Dainippon Pharma is one of Japan’s largest pharmaceutical companies with a market cap topping $8 billion. Prior to the deal with Urovant this year, Sumitomo invested in Urovant’s Swiss-based parent and prior majority shareholder, Roivant Sciences Ltd. in September .
Since the Robinson appointment was announced, Urovant’s shares are up about 20% to $9 and a $270 million market cap.
