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Indian Entrepreneur Vivek Ramaswamy Raises $1.1 Billion for Biotech Company

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Vivek Ramaswamy Roivant
Vivek Ramaswamy Roivant

32-year-old Vikek Ramaswamy Raised Over $1.1 Billion for Roivant, a biotech company.

Roivant Sciences Group has five subsidiaries, all based in the U.S. They are focused on different areas: Axovant for neurology; Dermavant for dermatology; Enzyvant for rare diseases; Myovant for women’s health & endocrine diseases; and Urovant for urology.

All five of these subsidiaries are growing at a good pace with consumer demand allowing them to expand in numerous ways. Most recently, they began working with pharma executive recruiters in order to hire new scientists and qualified professionals that would allow them to continue their growth. Without qualified talent, they won’t be able to deliver on the promises made to the company’s funding contributors.

Roivant scours to find pharmaceutical drugs of other companies that are unable to advance due to varying constraints, including financial woes. Roivant then initiates clinical and nonclinical studies, which often advances the potential for important drug development.

“Ramaswamy observed how big pharma firms would abandon promising drugs due to various reasons that were not related to their efficacy … Having earned the trust of QVT was key. The firm, along with Dexcel Pharma, an Israeli firm that reviewed Ramaswamy’s work at QVT, provided Ramaswamy’s new holding company with just less than $100 million in capital,” a recent TechCrunch article stated.

That article notes while Silicon Valley has obsessed over health tech company Theranos, whose fortunes crashed last year, “Ramaswamy has acquired a dozen drugs, including an Alzheimer’s pill that’s now named intepirdine.” Axovant Sciences was formed in part to research involving that drug. Axovant Sciences went public in 2015.

He co-founded and served as president of Campus Venture Network, a technology company that was acquired in 2009 by the Ewing Marion Kauffman Foundation. He worked at hedge fund QVT Financial from 2007 to 2014, where he co-managed the firm’s biotech portfolio.

Ramaswamy was ranked the 24th richest American entrepreneur under 40 in Forbes’ 2016 list with a net worth at $600 million.

His family is originally from Kerala, though he was born in Cincinnati. He attended Harvard, where he graduated summa cum laude with a Bachelors in biology. He also holds a Juris doctorate from Yale Law School. He was a nationally ranked tennis player in high school.

Ramaswamy learned about Alzheimer’s from a young age, often joining his mother on trips to nursing homes to play the piano for residents suffering from dementia.

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Missing Hindu woman found mutilated in Pakistan

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SAN FRANCISCO (Diya TV) – The mutilated body of a Hindu woman was found in a field in southeastern Pakistan. Police say 40 year old Daya Bheel was murdered in the latest suspected attack against minorities in the Muslim-majority country. Authorities say they have arrested some suspects but have not determined a motive.

The Khosla family has donated nearly 2 million dollars to the Nudge Institute to help fight poverty. The philanthropists have donated millions of dollars for many other causes.

And disgraced FTX founder Sam Bankman-fried pleaded not guilty to eight different counts of wire fraud, securities fraud, and conspiracy before a U.S. federal court in the Southern District of New York. U.S. prosecutors allege that under Bankman-Fried’s direction, FTX, once considered one of the largest and most-trusted cryptocurrency exchanges, transferred billions in customer assets to his trading firm, Alameda Research. If convicted of these charges, Bankman-Fried faces up to 115 years in prison.

Ravi Kapur contributed to this report.

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Christmas crash kills Indian American toddler

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Tragic news out of Nevada. Authorities say an Indian American toddler has died in a devastating Christmas day car crash and his mother is in critical condition fighting for her life. Authorities say the accident happened on a busy Las Vegas boulevard and they were returning home from a trip in California.

Anil Beephan is now the first Indian American Republican ever to be elected to the New York State Assembly in Albany. So far only Indian American Democrats have been elected to the state legislature. Beephan will also become the first minority to represent Dutchess County and at 29 years old, he’s the youngest GOP rep in the state legislature. He’s currently in the tech industry and has also worked as a volunteer firefighter.

Vice President Kamala Harris has named Indian American Rajeev Badyal to a key national advisory group, responsible for strategy and recommendations to improve and maintain space policy. Badyal already works for Amazon, helping launch satellites into orbit. 

Ravi Kapur contributed to this report.

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EXCLUSIVE: Warriors host first-ever Bhangra Night

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SAN FRANCISCO (Diya TV) – The Golden State Warriors first-ever Bhangra Night made its debut during the Warriors-Jazz game at the Chase Center in San Francisco. The Warriors say it’s a chance for the team to connect with the Bay Area’s rapidly growing South Asian community and fan base. Only Diya TV was on hand to capture the festivities. This change from the annual Bollywood night was supposed to take place in 2020 but was postponed because of the pandemic.

A federal jury in San Francisco has convicted Sivannarayana Barama of insider trading. Authorities say he used the quarterly financial performance of Palo Alto Networks before that information was released to the public and then traded in that company’s stock while that information was still confidential. Barama worked in IT for several Silicon Valley companies.

U.S. Border Patrol caught more than 4000 Indians illegally crossing the Mexico border in October and November. That’s more than double compared to the same time frame last year. An Indian man recently died climbing a border wall in Texas. The Biden administration is struggling to contain a surge of illegal immigration at the southern border.

Ravi Kapur contributed to this report.

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