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Immunovant Announces Pricing of $121.2 Million Public Offering

NEW YORK, April 14, 2020 / PR Newswire / Immunovant, Inc. (Nasdaq: IMVT), a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases, today announced the pricing of its underwritten public offering of 8,359,448 shares of its common stock at a price to the public of $14.50 per share. The aggregate gross proceeds to Immunovant from the offering are expected to be approximately $121.2 million, before deducting underwriting discounts and commissions and offering expenses. All of the shares of common stock are being offered by Immunovant. The offering is expected to close on April 16, 2020, subject to customary closing conditions. In connection with this offering, Immunovant has granted the underwriters a 30-day option to purchase up to an aggregate of 1,253,917 additional shares of common stock on the same terms and conditions.

SVB Leerink, UBS Investment Bank, SunTrust Robinson Humphrey and Chardan are acting as joint bookrunning managers for the offering. Nomura is acting as the lead manager for the offering. LifeSci Capital LLC is acting as the co-manager for the offering. 

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on April 14, 2020. A copy of the final prospectus, when available, may be obtained from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor Boston, MA 02110, by telephone at 1-800-808-7525, ext. 6218, or by email at syndicate@svbleerink.com; UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at (888) 827-7275 or by email at ol-prospectus-request@ubs.com; SunTrust Robinson Humphrey, Inc., 3333 Peachtree Road NE, 9th Floor, Atlanta, GA 30326, Attention: Prospectus Department; email: strh.prospectus@suntrust.com; or Chardan Capital Markets LLC, 17 State Street, 21st floor, New York, NY 10004.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.

About Immunovant
Immunovant, Inc. is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies.

Contact
John Strumbos, Ph.D., MBA
Vice President, Finance
Immunovant, Inc.
info@immunovant.com

Immunovant Announces Positive Clinical Results from Ongoing Phase 2a Proof-of-Concept Study of IMVT-1401, A Novel Investigational Anti-FcRn Antibody Delivered by Subcutaneous Injection, in Thyroid Eye Disease

 Company to Host Conference Call on March 30, 2020 at 8:30am EDT 

  • 65% mean reduction in total IgG was observed from baseline to end of treatment, with a pharmacodynamic (PD) response nearly identical to modeled predictions for dosing regimen tested in trial 
  • IMVT-1401 was safe and generally well-tolerated with no serious adverse events (SAEs), no withdrawals due to adverse events (AEs), and no headaches 
  • 4/7 patients (57%) improved by ≥ 2 points on the Clinical Activity Score (CAS) and 3/7 patients (43%) achieved a proptosis response 
  • Results establish first proof of concept for an anti-FcRn antibody in Thyroid Eye Disease 

NEW YORK, March 30, 2020 / PR Newswire Immunovant, Inc. (NASDAQ: IMVT), a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune disease, today announced initial results from the treatment phase of its ongoing Phase 2a study of IMVT-1401 (ASCEND GO-1) in patients with Thyroid Eye Disease (TED), also known as Graves’ ophthalmopathy. 

The multi-center, open-label, single-arm clinical trial evaluated two weekly 680mg subcutaneous doses of IMVT-1401 followed by four weekly 340mg subcutaneous doses of IMVT-1401 in seven adult patients with moderate-to-severe active TED. A planned eighth patient enrolled in ASCEND GO-2 instead of ASCEND GO-1. All patients in the trial have completed IMVT-1401 treatment and have entered the follow-up phase of the trial. Mean reduction in total IgG levels from baseline to end of treatment was 65%. As evaluated at the end of treatment, 4/7 patients (57%) improved by ≥ 2 points on the Clinical Activity Score (CAS). Of six patients with baseline diplopia, 4/6 patients (67%) demonstrated improvement in diplopia. 3/7 patients (43%) were proptosis responders. The safety and tolerability profile observed was consistent with the prior Phase 1 trial of IMVT-1401 in 99 healthy volunteers. All AEs were mild or moderate and there were no headaches reported. 

“We are very excited by the initial results of this trial,” said Pete Salzmann, M.D., Chief Executive Officer of Immunovant. “These results provide an early proof-of-concept of the potential for IMVT-1401 to ultimately become a safe and effective treatment for patients suffering from Thyroid Eye Disease. Importantly, IMVT-1401 was delivered by subcutaneous injection, opening the possibility of at-home treatment rather than infusion center-based treatment, for patients with Thyroid Eye Disease. We look forward to reporting the study’s full results, including detailed lab observations and 12 weeks of follow up data, at an upcoming medical meeting.” 

“I am encouraged by IMVT-1401’s early results showing promising efficacy and safety with a subcutaneous route of administration. If validated by additional data and approved by regulatory agencies, this drug could really benefit our patients suffering from active Thyroid Eye Disease,” said Peter Dolman, M.D., Oculoplastics Division Head, Department of Ophthalmology and Visual Sciences at the University of British Columbia. Dr. Dolman serves as principal investigator for the ASCEND GO-1 trial. “Even in this small study population, the response across multiple measures is notable,” he added. 

Immunovant will host a conference call on Monday, March 30 at 8:30am EDT. Following prepared remarks, the call will include a live question-and-answer session for the investment community. To access the webcast, please visit Immunovant’s website at www.immunovant.com. Participants may also dial in using the numbers provided below: 

Toll Free: 1-877-407-9039
Toll/International: 1-201-689-8470 

An archived webcast recording will be available on the Immunovant’s website for a limited time. 

About Immunovant, Inc. 

Immunovant, Inc is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies. 

Forward-Looking Statements 

This press release contains forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws. The use of words such as “may,” “might,” “will,” “would,” “should,” “expect,” “believe,” “estimate,” and other similar expressions are intended to identify forward-looking statements. For example, all statements Immunovant makes regarding Immunovant’s progress towards its vision of enabling normal lives for patients with autoimmune diseases; the timing, progress and reporting of results of its clinical programs; and the potential of IMVT-1401 to become a treatment option for patients suffering from TED are forward-looking. All forward-looking statements are based on estimates and assumptions by Immunovant’s management that, although Immunovant believes to be reasonable, are inherently uncertain. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Immunovant expected. Such risks and uncertainties include, among others, initial results or other preliminary analyses or results of early clinical trials may not be predictive final trial results or of the results of later clinical trials; the availability of data from clinical trials; the expectations for regulatory submissions and approvals; the continued development of Immunovant’s product candidates; Immunovant’s scientific approach and general development progress; the availability and commercial potential of Immunovant’s product candidates including the size of potentially addressable markets and degree of market acceptance; and the potential impact of the recent COVID-19 pandemic on Immunovant’s clinical development plans and timelines. These statements are also subject to a number of material risks and uncertainties that are described under the section titled “Risk Factors” in Immunovant’s Form 10-Q filed with the Securities and Exchange Commission (SEC) on February 14, 2020, and Immunovant’s subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Immunovant undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. 

Contact: 
John Strumbos, PhD, MBA
Vice President, Finance
Immunovant, Inc.
info@immunovant.com 

Immunovant Reports Financial Results for the Quarter and Nine Months Ending December 31, 2019

  • Ended quarter with $123.5 million in cash 
  • Received IND clearance to initiate Phase 2a trial in warm autoimmune hemolytic anemia (WAIHA)

NEW YORK, February 14, 2020 / PRNewswire / Immunovant, Inc. (NASDAQ: IMVT), a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases, today reported financial results for its fiscal third quarter ending December 31, 2019.

“During the quarter we continued progress towards our vision of enabling normal lives for patients with autoimmune diseases.” said Pete Salzmann, M.D., Chief Executive Officer of Immunovant.  “Among our accomplishments this quarter was the successful closing of the HSAC share exchange with the maximum potential cash proceeds from the transaction. I’m also proud of the team for getting IND clearance to begin our Phase 2a trial of IMVT-1401 in warm autoimmune hemolytic anemia. We look forward to four exciting data readouts between now and early 2021.”

Financial Highlights for Fiscal Third Quarter ending December 31, 2019 and Nine Months ending December 31, 2019:

Cash Position: Cash balances as of December 31, 2019 and December 31, 2018 were $123.5 million and $12.1 million, respectively.  The increase in cash was primarily related to the business combination with Health Sciences Acquisitions Corporation (“HSAC”) as described in the definitive proxy statement filed by HSAC with the SEC on November 27, 2019.

R&D Expenses: Research and development expenses were $5.0 million for the three months ending December 31, 2019, compared to $7.7 million for the three months ending December 31, 2018.  Research and development expenses were $33.8 million for the nine months ending December 31, 2019, compared to $17.8 million for the nine months ending December 31, 2018. The year-over-year increase was primarily driven by costs incurred to advance IMVT-1401 into four Phase 2 trials across three indications.

G&A Expenses:  General and administrative expenses were $6.1 million for the three months ending December 31, 2019, compared to $1.2 million for the three months ending December 31, 2018.  For the nine months ending December 31, 2019, general and administrative expenses were $11.8 million compared to $1.7 million for the nine months ending December 31, 2018. The year-over-year increase was primarily driven by costs associated with enhancing our operations to support four Phase 2 trials as well as significant one-time costs related to the share exchange with HSAC.

Net Loss: Net loss was $11.3 million for the three months ending December 31, 2019, compared to $8.8 million for the three months ending December 31, 2018.  For the nine months ending December 31, 2019, net loss was $45.8 million compared to $19.6 million for the nine months ending December 31, 2018.

About Immunovant, Inc.

Immunovant, Inc is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies. For more information, please visit www.immunovant.com.

Forward-Looking Statements

This press release contains forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws. The use of words such as “may,” “might,” “will,” “would,” “should,” “expect,” “believe,” “estimate,” and other similar expressions are intended to identify forward-looking statements. For example, all statements Immunovant makes regarding Immunovant’s progress towards its vision of enabling normal lives for patients with autoimmune diseases; and the initiation, timing, progress and reporting of results of its clinical programs are forward-looking. All forward-looking statements are based on estimates and assumptions by Immunovant’s management that, although Immunovant believes to be reasonable, are inherently uncertain. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Immunovant expected. Such risks and uncertainties include, among others, the initiation and conduct of preclinical studies and clinical trials; the availability of data from clinical trials; the expectations for regulatory submissions and approvals; the continued development of Immunovant’s product candidates and platforms; Immunovant’s scientific approach and general development progress; and the availability and commercial potential of Immunovant’s product candidates including the size of potentially addressable markets and degree of market acceptance. These statements are also subject to a number of material risks and uncertainties that are described under the section titled “Risk Factors” in the definitive proxy statement filed by HSAC with the Securities and Exchange Commission on November 29, 2019, and Immunovant’s subsequent filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was made. Immunovant undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact:
John Strumbos, Ph.D., MBA
Vice President, Finance
Immunovant, Inc.
info@immunovant.com

Immunovant To Present at the 9th Annual SVB Leerink Global Healthcare Conference

NEW YORK, February 10, 2020 / PRNewswire Immunovant, Inc. (NASDAQ: IMVT) a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases, announced today that Pete Salzmann, Chief Executive Officer, will provide a corporate overview at the SVB Leerink 9th Annual Global Healthcare Conference, taking place February 25-27 in New York City.

9th Annual Global Healthcare Conference
Date: Tuesday, February 25th
Time: 3:00pm Eastern Time
Webcast: The presentation will be available via webcast and can be accessed at the Investor Relations section of the Company’s website, located at www.immunovant.com

About Immunovant, Inc.
Immunovant is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies.

Contact:
John Strumbos, Ph.D., MBA
Vice President, Finance
Immunovant, Inc.
info@immunovant.com

Immunovant Sciences Ltd. Closes Transaction with Health Sciences Acquisitions Corporation

Combined company, to be named Immunovant, Inc., will begin trading on Nasdaq under ticker symbol “IMVT” on December 19, 2019

NEW YORK – Immunovant, Inc., formerly known as Health Sciences Acquisitions Corporation (Nasdaq: HSAC) (“HSAC”), a special purpose acquisition company sponsored by RTW Investments, LP, announced today the closing of its business combination with Immunovant Sciences Ltd. (“ISL”), a clinical stage biopharmaceutical company developing IMVT-1401, a fully human monoclonal antibody that selectively binds to and inhibits the neonatal Fc receptor (“FcRn”) and is designed to be delivered by subcutaneous injection.

The business combination was approved by HSAC’s stockholders at a special meeting held on December 16, 2019.  HSAC reported that, prior to the special meeting, there were zero redemptions from HSAC shareholders, an uncommon occurrence demonstrating the strength of the transaction.  The combined company was renamed Immunovant, Inc. (“Immunovant”), and Immunovant’s shares of common stock are expected to begin trading on Nasdaq under the symbol “IMVT” on December 19, 2019.  ISL’s management team will continue to run Immunovant, led by Chief Executive Officer, Pete Salzmann, M.D.

“We are thrilled to have completed the share exchange between HSAC and ISL and look forward to supporting Immunovant as it seeks to advance three important therapeutic programs through the clinic,” said Rod Wong, M.D., President, Chief Executive Officer, and Chairman of HSAC and Managing Partner and Chief Investment Officer of RTW Investments, LP.

Proceeds from this transaction exceeded $100 million and will provide Immunovant with capital expected to progress three key IMVT-1401 pipeline programs for Graves’ ophthalmopathy, myasthenia gravis, and warm autoimmune hemolytic anemia.

Naveen Yalamanchi, Principal and Portfolio Manager at RTW Investments, LP, added, “We have been impressed with the development of Immunovant’s key asset under the thoughtful guidance of its CEO, Pete Salzmann.”

Immunovant reiterates its previous guidance regarding data releases from the ongoing and planned Phase 2 clinical trials:

  • Initial results from ASCEND-GO 1, an open-label Phase 2a clinical trial of IMVT-1401 for the treatment of Graves’ ophthalmopathy, are expected in Q1 2020.
  • Topline results from ASCEND-MG, an ongoing Phase 2a clinical trial of IMVT-1401 for the treatment of myasthenia gravis, are expected in 1H 2020.
  • Initial results from a Phase 2a clinical trial of IMVT-1401 for the treatment of warm autoimmune hemolytic anemia are expected in Q4 2020.
  • Topline results from ASCEND-GO 2, an ongoing Phase 2b clinical trial of IMVT-1401 for the treatment of Graves’ ophthalmopathy, are expected in early 2021.

“It is a privilege to be in a position to bring potentially transformative therapies to patients. We are especially excited to continue to advance our vision of enabling ‘Normal Lives for Patients with Autoimmune Diseases’, fueled by growth capital from RTW Investments and a deep roster of blue chip healthcare investors,” said Pete Salzmann, M.D. Chief Executive Officer of Immunovant.

About Health Sciences Acquisitions Corporation

HSAC was established for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. HSAC was sponsored by RTW Investments, LP.

About RTW Investments, LP

RTW Investments, LP (“RTW”) is a New York-based investment firm that focuses on identifying transformational and disruptive innovations in biopharmaceutical and medical technologies. As a leading partner of industry and academia, RTW utilizes deep scientific expertise and a rigorous and comprehensive process to support emerging medical therapies. For further information about RTW, please visit www.rtwfunds.com.

About Immunovant, Inc.

Immunovant is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies.

About Roivant

Roivant Sciences aims to improve health by rapidly delivering innovative medicines and technologies to patients. Roivant does this by building Vants – nimble, entrepreneurial biotech, and healthcare technology companies with a unique approach to sourcing talent, aligning incentives, and deploying technology to drive greater efficiency in R&D and commercialization. For further information about Roivant, please visit www.roivant.com.

Advisors

Chardan acted as HSAC’s lead M&A and capital markets advisor. Leerink served as advisor to Immunovant. Loeb & Loeb represented HSAC on legal matters. Cooley LLP represented Immunovant on legal matters.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “seek,” “plan,” “potential,” “anticipate,” “estimate,” “intend,” and similar expressions (as well as other words or expressions referencing future events, conditions, or circumstances) are intended to identify forward-looking statements. These statements include those related to the timing, progress and reporting of results of Immunovant’s ongoing clinical trials of IMVT-1401, the potential benefits or advantages of IMVT-1401, and Immunovant’s plans to use the proceeds from the transaction to advance its IMVT-1401 pipeline programs for Graves’ ophthalmopathy, myasthenia gravis, and warm autoimmune hemolytic anemia and ability to fund its clinical programs. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. The product candidates that Immunovant develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all.  In addition, clinical trials may not confirm any safety, potency or other product characteristics described or assumed in this press release. In addition, such product candidates may not be beneficial to patients, or even if approved by regulatory authorities, successfully commercialized. The failure to meet expectations with respect to any of the foregoing matters may have a negative effect on Immunovant’s stock price. Additional information concerning these and other risk factors affecting Immunovant’s business can be found in HSAC’s definitive proxy statement, dated November 27, 2019, related to the transaction as filed with the Securities and Exchange Commission and is available at www.sec.gov. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, Immunovant disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

A further list and description of risks and uncertainties can be found in HSAC’s definitive proxy statement on Schedule 14A that was filed with the SEC other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Any forward-looking statement made by us in this press release is based only on information currently available to HSAC and Immunovant and speaks only as of the date on which it is made. HSAC and Immunovant undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.

Disclaimer

This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Contacts:
Pam Connealy
Chief Financial Officer
Immunovant, Inc.
info@immunovant.com

Stephanie A. Sirota
Vice President of Corporate Strategy and Corporate Communications
Health Sciences Acquisitions Corporation
hsac@rtwfunds.com

Health Sciences Acquisitions Corporation Sets Date for Special Meeting of Stockholders to Vote on Transaction with Immunovant Sciences Ltd.

NEW YORK – Health Sciences Acquisitions Corporation (“HSAC,” NASDAQ: HSAC), a special purpose acquisition company sponsored by RTW Investments, LP, announced today that it has set a record date and a meeting date for the special meeting of its stockholders to, among other things, consider and vote on a proposal to approve the transactions contemplated by the previously announced share exchange agreement pursuant to which HSAC will acquire 100% of the issued and outstanding shares in Immunovant Sciences Ltd., a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases.

The special meeting will be held at 10:00 a.m., local time, on December 16, 2019 at the offices of Loeb & Loeb LLP, 345 Park Ave, New York, New York 10154. The board of directors of HSAC set November 20, 2019 as the record date for the special meeting.  A definitive proxy statement relating to the special meeting was filed with the SEC on November 27, 2019.

The completion of the share exchange remains subject to customary closing conditions, including receipt of approval from HSAC stockholders at the special meeting. If approved by HSAC’s stockholders, the share exchange is expected to close promptly after the special meeting.

A complete list of HSAC stockholders of record entitled to vote at the special meeting will be available for ten days before the special meeting at the principal executive offices of HSAC for inspection by stockholders during ordinary business hours for any purpose germane to the special meeting.

About Health Sciences Acquisitions Corporation

HSAC is a Delaware company established for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. On May 14, 2019, HSAC raised $115 million to achieve this goal. As of September 30, 2019, there was approximately $116.0 million in HSAC’s trust account. HSAC is sponsored by RTW Investments, LP.  For further information about the sponsor, please visit www.rtwfunds.com.

About Immunovant

Immunovant, a member of the Roivant family of companies, is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies. For further information about Immunovant, please visit www.immunovant.com.

Important Notice Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “target,” “believe,” “expect,” “will,” “shall,” “may,” “anticipate,” “estimate,” “would,” “positioned,” “future,” “forecast,” “intend,” “plan,” “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Examples of forward-looking statements include, among others, statements made in this press release regarding the Business Combination (as defined below) contemplated by the share exchange agreement (the “Share Exchange Agreement”) among Health Sciences Acquisitions Corporation (“HSAC”), Immunovant Sciences Ltd. (“Immunovant”), Roivant Sciences Ltd., and the stockholders of HSAC (the “Business Combination”), including the expected timing of the closing of the Business Combination and Immunovant’s plans and objectives. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on HSAC and Immunovant managements’ current beliefs, expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results and outcomes to differ materially from those indicated in the forward-looking statements include, among others, the following: (1) the occurrence of any event that could give rise to the termination of the Share Exchange Agreement; (2) the outcome of any legal proceedings that may be instituted against HSAC, the combined company, or others following the announcement of the Business Combination and the Share Exchange Agreement; (3) the inability to complete the Business Combination due to the failure to obtain approval of HSAC’s stockholders or to satisfy other conditions to closing in the Share Exchange Agreement; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws; (5) the ability to meet the Nasdaq Stock Market LLC (“Nasdaq”) listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of Immunovant as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with third parties and partners, obtain adequate supply of raw materials and retain its management and key employees; (8) costs related to the Business Combination; (9) changes in applicable laws or regulations; (10) the possibility that Immunovant or the combined company may be adversely affected by other economic, business, regulatory, and/or competitive factors; (11) Immunovant’s estimates of expenses; (12) the impact of foreign currency exchange rates and interest rates fluctuations on the results of Immunovant or the combined company; and (13) other risks and uncertainties indicated in the definitive proxy statement filed by HSAC with the SEC in connection with the Business Combination, including those under “Risk Factors” therein, and other documents filed or to be filed from time to time with the SEC by HSAC.

A further list and description of risks and uncertainties can be found in HSAC’s definitive proxy statement on Schedule 14A that was filed with the SEC other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Any forward-looking statement made by us in this press release is based only on information currently available to HSAC and Immunovant and speaks only as of the date on which it is made. HSAC and Immunovant undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.

Disclaimer

This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Participants in the Solicitation

Immunovant Sciences Ltd. (“Immunovant”), Health Sciences Acquisitions Corporation (“HSAC”), and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of shares of HSAC common stock in respect of the Business Combination described herein. Information about HSAC’s directors and executive officers and their ownership of HSAC common stock is set forth in HSAC’s definitive proxy statement dated November 27, 2019 (the “Definitive Proxy Statement”) filed with the Securities and Exchange Commission (the “SEC”), as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation are included in the Definitive Proxy Statement pertaining to the Business Combination. These documents can be obtained free of charge from the sources indicated below.

Additional Information and Where To Find It

In connection with the transaction described herein, HSAC has filed and will file relevant materials with the SEC, including the Definitive Proxy Statement with the SEC, HSAC has mailed the Definitive Proxy Statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the transaction. INVESTORS AND SECURITY HOLDERS OF HSAC ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT HSAC WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT HSAC, IMMUNOVANT AND THE TRANSACTION. The Definitive Proxy Statement and other relevant materials in connection with the transaction (when they become available), and any other documents filed by HSAC with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov) or by writing to Health Sciences Acquisitions Corporation, 412 West 15th Street, Floor 9, New York, NY 10011.

Contacts:

Stephanie A. Sirota
Vice President of Corporate Strategy and Corporate Communications
Health Sciences Acquisitions Corporation
hsac@rtwfunds.com

Immunovant Initiates Dosing in ASCEND-GO 2, a Phase 2b Trial of IMVT-1401 in Patients with Graves’ Ophthalmopathy (GO)

  • IMVT-1401, a fully human anti-FcRn antibody designed to be administered via subcutaneous injection, is the only anti-FcRn antibody known to be in clinical development for the treatment of GO
  • Topline results from the ASCEND-GO 2 program are expected in early 2021
  • IMVT-1401 is also being evaluated in ASCEND-MG, an ongoing Phase 2a trial for the treatment of myasthenia gravis, and ASCEND-GO 1, an open-label Phase 2a trial for the treatment of GO

NEW YORK and BASEL, Switzerland, November 25, 2019 /PRNewswire/ – Immunovant, a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases, today announced that it has initiated dosing in ASCEND-GO 2, a multicenter, randomized, masked, placebo-controlled Phase 2b clinical trial evaluating IMVT-1401 in patients with moderate-to-severe active Graves’ ophthalmopathy (GO). IMVT-1401 is a fully human monoclonal antibody that selectively binds to and inhibits the neonatal Fc receptor (FcRn) and is designed to be delivered by subcutaneous injection.

In the ASCEND-GO 2 trial, 77 patients are expected to receive twelve weekly subcutaneous injections of 680 mg, 340 mg or 255 mg IMVT-1401 or placebo. The primary endpoints of this trial are the proptosis responder rate measured at week 13, defined as the percentage of patients with a > 2 mm reduction in proptosis in the study eye without deterioration in the fellow eye, and safety and tolerability. Secondary endpoints include the proptosis responder rate at various timepoints, Clinical Activity Score (CAS) responder rate, mean change from baseline in proptosis, CAS, diplopia, quality-of-life measures, and pharmacokinetics/pharmacodynamics. This trial has been designed without the use of any intravenous induction dosing and does not require dosing at infusion centers. Topline results from this trial are expected in early 2021.

“Graves’ ophthalmopathy can be a devastating and sight-threatening disease with a dramatic impact on patients’ vision and overall well-being. There is an urgent need for more effective and better tolerated treatment options which can be easily administered by physicians or patients. By depleting the autoantibodies responsible for this condition, IMVT-1401 has the potential to become a foundational therapy for GO and offer patients a convenient subcutaneously-administered treatment option to control their disease,” said Dr. Pete Salzmann, CEO of Immunovant.

Immunovant reiterates its previous guidance regarding data releases from the other ongoing and planned Phase 2 clinical trials:

  • Initial results from ASCEND-GO 1, an open-label Phase 2a clinical trial of IMVT-1401 for the treatment of GO, are expected in Q1 2020.
  • Topline results from ASCEND-MG, an ongoing Phase 2a clinical trial of IMVT-1401 for the treatment of myasthenia gravis, are expected in the 1H 2020.
  • Initial results from a Phase 2a clinical trial of IMVT-1401 for the treatment of warm autoimmune hemolytic anemia are expected in Q4 2020.

For more information about the ASCEND-GO 2 trial, please visit www.clinicaltrials.gov. The clinicaltrials.gov identifier is NCT03938545.

About Graves’ Ophthalmopathy

Graves’ ophthalmopathy, also known as thyroid eye disease, is an autoimmune disorder that affects the muscles and other tissues around the eyes. GO has an estimated annual incidence of 16 per 100,000 women and 2.9 per 100,000 men in North America and Europe. Approximately one in 20 patients with Graves’ disease will present with moderate-to-severe GO, which is characterized by swelling and redness of the eyelids, proptosis (protrusion of the eyeball), diplopia (double vision), and, in severe cases, corneal ulceration and decreased visual acuity. GO is most commonly caused by IgG autoantibodies that form against the thyroid-stimulating hormone receptor (TSHR). These antibodies, which also cause Graves’ disease, activate certain cell types, such as fibroblasts and adipocytes, that are present in the extraocular space, promoting inflammation and swelling that result in the clinical manifestations of the disease. There are no therapies approved by the U.S. Food and Drug Administration (FDA) for the treatment of GO.

About Immunovant

Immunovant, a member of the Roivant family of companies, is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies.

On October 2, 2019, Immunovant announced its plan to merge with Health Sciences Acquisitions Corporation (HSAC), a special purpose acquisition company sponsored by RTW Investments. For further information about Immunovant, please visit www.immunovant.com.

Important Notice Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended. Statements that are not historical facts, including statements about the initiation, timing, progress, reporting of results of Immunovant’s anticipated and ongoing clinical trials, the potential benefits or advantages of IMVT-1401, anticipated regulatory timelines and the pending business combination between HSAC and the stockholders of Immunovant, are forward-looking statements.  These statements are based on management’s current expectations. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make as a result of various important factors, including, without limitation, those inherent in the preclinical and clinical development process and the regulatory approval process, the risks and uncertainties in commercialization and gaining market acceptance, the risks associated with protecting and defending our intellectual property rights, our reliance on third-parties to conduct clinical and preclinical trials, our reliance on third-party suppliers to manufacture clinical, preclinical and any future commercial supplies of our product candidates, increased regulatory requirements, our ability to provide the financial support and resources necessary to develop our product candidate on the expected timeline, our ability to identify and acquire or in-license new product candidates and competition from others developing products for similar uses. There can be no assurance that the clinical programs for our product candidate will be successful in demonstrating safety and/or efficacy, that we will not encounter problems or delays in clinical development, or that any of our product candidates will ever receive regulatory approval or be successfully commercialized. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.

Disclaimer

This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Participants in Solicitation

HSAC, Immunovant, and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of HSAC common stock in respect of the proposed transaction. Information about HSAC’s directors and executive officers and their ownership of HSAC’s common stock is set forth in HSAC’s Registration Statement filed on Form S-1 filed with the SEC on May 3, 2019, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement pertaining to the proposed transaction. These documents can be obtained free of charge from the sources indicated below.

Additional Information and Where to Find It

In connection with the merger described herein, HSAC has filed and will file relevant materials with the SEC, including a proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, HSAC will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the transaction. Investors and security holders of HSAC are urged to read these materials (including any amendments or supplements thereto) and any other relevant documents in connection with the transaction that HSAC will file with the SEC when they become available because they will contain important information about HSAC, Immunovant and the transaction. The preliminary proxy statement, the definitive proxy statement and other relevant materials in connection with the transaction (when they become available), and any other documents filed by HSAC with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov) or by writing to HSAC at 412 West 15th Street, Floor 9, New York, NY 10011.

Contact:
Pam Connealy, M.B.A.
Chief Financial Officer
Immunovant, Inc.
Info@immunovant.com

Health Sciences Acquisitions Corporation and Immunovant to Host Joint Conference Call for the Investment Community on Friday, October 11, at 8:30am EDT

NEW YORK and LONDON, October 7, 2019 /PRNewswire/ – Health Sciences Acquisitions Corporation (“HSAC,” NASDAQ: HSAC), a special purpose acquisition company sponsored by RTW Investments, and Immunovant Sciences Ltd. (“Immunovant”), a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases, today announced that they will host a joint conference call to discuss their planned merger. The conference call will take place on Friday, October 11, at 8:30am EDT. Following prepared remarks, the call will include a question-and-answer session for the investment community.

To access the webcast, please visit Immunovant’s website at www.immunovant.com. Participants may also dial in using the numbers provided below. When prompted, participants should request to join the “HSAC and Immunovant Conference Call.”

Toll Free: 1-877-407-9039
Toll/International: 1-201-689-8470

Following the webcast, an archived version of the call will be available for 6 months at www.immunovant.com.

About Immunovant

Immunovant, a member of the Roivant family of companies, is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies. For further information about Immunovant, please visit www.immunovant.com.

About Roivant

Roivant Sciences aims to improve health by rapidly delivering innovative medicines and technologies to patients. Roivant does this by building Vants – nimble, entrepreneurial biotech, and healthcare technology companies with a unique approach to sourcing talent, aligning incentives, and deploying technology to drive greater efficiency in R&D and commercialization. For further information about Roivant, please visit www.roivant.com.

About Health Sciences Acquisitions Corporation

HSAC is a Delaware company established for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. On May 14, 2019, HSAC raised $115 million to achieve this goal. As of June 30, 2019, there was approximately $115.3 million in HSAC’s trust account. HSAC is sponsored by RTW Investments.

About RTW Investments

RTW Investments, LP (“RTW”) is a New York-based investment firm that focuses on identifying transformational and disruptive innovations in biopharmaceutical and medical technologies. As a leading partner of industry and academia, RTW utilizes deep scientific expertise and a rigorous and comprehensive process to support emerging medical therapies. For further information about RTW, please visit www.rtwfunds.com.

Participants in the Solicitation

Immunovant Sciences Ltd. (“Immunovant”), Health Sciences Acquisitions Corporation (“HSAC”), and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of shares of HSAC common stock in respect of the Business Combination described herein. Information about HSAC’s directors and executive officers and their ownership of HSAC common stock is set forth in HSAC’s preliminary proxy statement dated October 2, 2019 (the “Preliminary Proxy Statement”) filed with the Securities and Exchange Commission (the “SEC”), as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation are included in the Preliminary Proxy Statement pertaining to the Business Combination. These documents can be obtained free of charge from the sources indicated below.

Additional Information and Where To Find It 

In connection with the transaction described herein, HSAC has filed and will file relevant materials with the SEC, including the Preliminary Proxy Statement and a definitive proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, HSAC will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the transaction. INVESTORS AND SECURITY HOLDERS OF HSAC ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT HSAC WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT HSAC, IMMUNOVANT AND THE TRANSACTION. The definitive proxy statement, the preliminary proxy statement and other relevant materials in connection with the transaction (when they become available), and any other documents filed by HSAC with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov) or by writing to Health Sciences Acquisitions Corporation, 412 West 15th Street, Floor 9, New York, NY 10011.

Contacts:
Sandeep Kulkarni, M.D.
Chief Operating Officer
Immunovant, Inc.
info@immunovant.com

Stephanie A. Sirota
Vice President of Corporate Strategy and Corporate Communications
Health Sciences Acquisitions Corporation
hsac@rtwfunds.com

Immunovant To Merge with Health Sciences Acquisitions Corporation, Creating New Publicly-Listed FcRn-Focused Company

  • Top shareholders of Immunovant post-closing to include Roivant Sciences and blue-chip biotech investors, including RTW Investments, BVF Partners, Adage Capital Management, Cormorant Asset Management, Eventide Asset Management, and Perceptive Advisors
  • Immunovant is developing IMVT-1401, a fully human antibody to FcRn that delivered a mean IgG reduction of nearly 80% in a Phase 1 study of healthy volunteers receiving 4 weekly 680 mg subcutaneous injections
  • Immunovant is expected to have more than $100 million at closing to fund development of IMVT-1401 into 2H 2021
  • Top-line data from ongoing Phase 2a trial in Graves’ ophthalmopathy expected by Q1 2020
  • Top-line data from ongoing Phase 2a trial in myasthenia gravis expected by Q2 2020

NEW YORK and LONDON, October 2, 2019 /PRNewswire/ – Health Sciences Acquisitions Corporation (“HSAC,” NASDAQ: HSAC), a special purpose acquisition company sponsored by RTW Investments, and Immunovant Sciences Ltd. (“Immunovant”), a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases, today announced that they have entered into a definitive share exchange agreement (“SEA”). HSAC will acquire 100% of the issued and outstanding shares in Immunovant. Upon closing, the combined company will be called Immunovant, Inc.

“We are thrilled to have the opportunity to partner with the team at Immunovant. We believe IMVT-1401 is a uniquely compelling asset within the FcRn drug class, which we expect will become a cornerstone therapy for treating many auto-antibody driven diseases,” said Roderick T. Wong, M.D., President, Chief Executive Officer and Chairman of HSAC and Managing Partner and Chief Investment Officer of RTW Investments.

In addition to the merger described above, Immunovant also announced today that it completed a $35 million private bridge financing with RTW Investments, BVF Partners, and Roivant Sciences Ltd. (“Roivant”). The notes issued in this financing will convert into common shares of Immunovant immediately prior to the closing of the business combination.

The combined company is expected to have more than $100 million at closing and will be led by Immunovant’s experienced management team, headed by Chief Executive Officer Pete Salzmann, M.D. HSAC has received written commitments from certain HSAC shareholders to vote in favor of the transaction and to not redeem their shares, which, in aggregate, more than satisfies the minimum cash closing condition set forth in the SEA. Current HSAC shareholders supporting the transaction include RTW Investments, Adage Capital Management, Cormorant Asset Management, Eventide Asset Management, and Perceptive Advisors.

“I am proud of the many milestones delivered by the Immunovant team this year, including completion of a comprehensive Phase 1 program demonstrating robust IgG reductions with simple subcutaneous injections and initiation of a broad Phase 2 program with both first-in-class and best-in-class potential in multiple diseases with high unmet patient need. We believe the potency of IMVT-1401 and the ability to administer IMVT-1401 as a simple subcutaneous injection represent important potentially differentiating features of this product candidate. Today’s financing transaction will allow us to continue to pursue our vision of enabling normal lives for patients with autoimmune diseases,” said Pete Salzmann, M.D., Chief Executive Officer of Immunovant.

Immunovant is developing IMVT-1401, a fully human anti-FcRn monoclonal antibody with the potential to treat IgG-mediated autoimmune diseases. IMVT-1401 is the result of a multi-year research program by Immunovant’s partner, HanAll Biopharma, to engineer a highly potent anti-FcRn antibody specifically optimized for subcutaneous injection with a small gauge needle. In a Phase 1 study of healthy volunteers receiving 4 weekly subcutaneous injections, IMVT-1401 delivered a mean IgG reduction of 63% at a dose of 340 mg and a mean IgG reduction of 78% at a dose of 680 mg.

Proceeds from this transaction are expected to finance Phase 2 development of IMVT-1401 in three indications. IMVT-1401 is currently being tested in a Phase 2a trial for Graves’ ophthalmopathy (potentially a first-in-class anti-FcRn), with top-line data expected by Q1 2020, and in a Phase 2a trial for myasthenia gravis, with top-line data expected by Q2 2020. Immunovant also plans to file an IND for a third indication, warm autoimmune hemolytic anemia, later this year. The company also intends to pursue additional indications in the future.

A corporate presentation describing Immunovant’s development plans can be found at www.immunovant.com.

Summary of Transaction

On September 29, 2019, HSAC entered into the SEA with Immunovant and its shareholders, including Roivant. Upon the closing of the transactions contemplated in the SEA, HSAC will acquire all of the shares of Immunovant for the consideration described below, and Immunovant will become a wholly owned subsidiary of HSAC.

Upon the closing of the transactions, the current Immunovant shareholders will sell to HSAC, and HSAC will purchase from the current Immunovant shareholders, all of the issued and outstanding Immunovant shares, and HSAC will issue (or reserve for issuance upon the exercise of options) approximately 43 million HSAC shares to the current Immunovant shareholders. The aggregate value of the consideration to be paid by HSAC in the business combination is $395 million, before giving effect to Immunovant’s bridge financing.

Assuming no redemption from HSAC shareholders, it is estimated that the current security holders of Immunovant will own approximately 77% of the combined company.

Immunovant shareholders may, subject to the terms of the SEA, receive up to an additional 20 million  HSAC shares (the “Earnout Shares”): 10 million shares if the share price exceeds $17.50 by March 31, 2023 and an additional 10 million shares if the share price exceeds $31.50 by March 31, 2025.

In connection with the transactions, HSAC’s sponsor has agreed to cancel all 10 million of its private warrants.  Furthermore, subject to terms of the SEA, 1.8 million of the sponsor’s founder shares will be cancelled unless HSAC’s common stock exceeds certain stock prices on substantially identical terms and conditions as the Earnout Shares.  

The description of the transaction contained herein is only a high-level summary and is qualified in its entirety by reference to the definitive agreement relating to the transaction. A copy of the definitive agreement, this press release and a corporate presentation will be filed today by HSAC with the Securities and Exchange Commission (the “SEC”) as exhibits to a Current Report on Form 8-K, which can be accessed through the SEC’s website at www.sec.gov.

Chardan is acting as HSAC’s M&A and capital markets advisor. Leerink is acting as financial advisor to Immunovant. Loeb & Loeb LLP is representing HSAC. Cooley LLP is representing Immunovant.

About Immunovant

Immunovant, a member of the Roivant family of companies, is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies. For further information about Immunovant, please visit www.immunovant.com.

About Roivant

Roivant Sciences aims to improve health by rapidly delivering innovative medicines and technologies to patients. Roivant does this by building Vants – nimble, entrepreneurial biotech, and healthcare technology companies with a unique approach to sourcing talent, aligning incentives, and deploying technology to drive greater efficiency in R&D and commercialization. For further information about Roivant, please visit www.roivant.com.

About Health Sciences Acquisitions Corporation

HSAC is a Delaware company established for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. On May 14, 2019, HSAC raised $115 million to achieve this goal. As of June 30, 2019, there was approximately $115.3 million in HSAC’s trust account. HSAC is sponsored by RTW Investments.

About RTW Investments

RTW Investments, LP (“RTW”) is a New York-based investment firm that focuses on identifying transformational and disruptive innovations in biopharmaceutical and medical technologies. As a leading partner of industry and academia, RTW utilizes deep scientific expertise and a rigorous and comprehensive process to support emerging medical therapies. For further information about RTW, please visit www.rtwfunds.com.

Important Notice Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended. Statements that are not historical facts, including statements about the pending business combination between HSAC and the stockholders of Immunovant and the transactions contemplated thereby, and the parties’ perspectives and expectations, are forward-looking statements. Such statements include, but are not limited to, statements regarding the proposed transaction, including the anticipated initial enterprise value, cash available at closing, the anticipated use of the combined company’s cash and cash equivalents, initiation, timing, progress, and reporting of results of Immunovant’s development programs, the potential benefits of Immunovant’s product candidates, the benefits of the proposed transaction, integration plans, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the transactions. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.

Such risks and uncertainties include, but are not limited to: (i) risks related to the expected timing and likelihood of completion of the pending transaction, including the risk that the transaction may not close due to one or more closing conditions to the transaction not being satisfied or waived, such as regulatory approvals not being obtained, on a timely basis or otherwise, or that a governmental entity prohibited, delayed or refused to grant approval for the consummation of the transaction or required certain conditions, limitations or restrictions in connection with such approvals; (ii) risks related to the ability of HSAC and Immunovant to successfully integrate the businesses; (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the applicable transaction agreements; (iv) the risk that there may be a material adverse change with respect to the financial position, performance, operations or prospects of Immunovant or HSAC; (v) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (vi) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of HSAC’s common stock; (vii) risks associated with the financing of the proposed transaction; and (viii) risks related to the timing, cost and results of Immunovant’s clinical trials and regulatory submissions. A further list and description of risks and uncertainties can be found in HSAC’s Registration Statement filed on Form S-1 filed with the Securities and Exchange Commission (the “SEC”) on May 3, 2019, in HSAC’s quarterly reports on Form 10-Q filed with the SEC subsequent thereto and in the proxy statement on Schedule 14A that will be filed with the SEC by HSAC in connection with the proposed business combination, and other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and HSAC, Immunovant, and their subsidiaries undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Disclaimer

This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Participants in Solicitation

HSAC, Immunovant, and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of HSAC common stock in respect of the proposed transaction. Information about HSAC’s directors and executive officers and their ownership of HSAC’s common stock is set forth in HSAC’s Registration Statement filed on Form S-1 filed with the SEC on May 3, 2019, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement pertaining to the proposed transaction when it becomes available. These documents can be obtained free of charge from the sources indicated below.

Additional Information and Where to Find It

In connection with the transaction described herein, HSAC has filed and will file relevant materials with the SEC, including a proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, HSAC will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the transaction. Investors and security holders of HSAC are urged to read these materials (including any amendments or supplements thereto) and any other relevant documents in connection with the transaction that HSAC will file with the SEC when they become available because they will contain important information about HSAC, Immunovant and the transaction. The preliminary proxy statement, the definitive proxy statement and other relevant materials in connection with the transaction (when they become available), and any other documents filed by HSAC with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov) or by writing to HSAC at 412 West 15th Street, Floor 9. New York, NY 10011.

Contacts:

Sandeep Kulkarni, M.D.
Chief Operating Officer
Immunovant, Inc.
info@immunovant.com

Stephanie A. Sirota
Vice President of Corporate Strategy and Corporate Communications
Health Sciences Acquisitions Corporation
hsac@rtwfunds.com

Immunovant Appoints Robert K. Zeldin as Chief Medical Officer and W. Bradford Middlekauff as General Counsel

NEW YORK and BASEL, Switzerland, August 13, 2019 /PRNewswire/ — Immunovant, a biopharmaceutical company focused on developing innovative therapies for patients living with debilitating autoimmune diseases, today announced the appointment of Robert K. Zeldin, M.D., as Chief Medical Officer and W. Bradford Middlekauff, J.D., as General Counsel.

A clinical immunologist by training, Dr. Zeldin brings over two decades of clinical, regulatory and industry experience to Immunovant. “Robert has an impressive track record of delivering results and leading clinical development teams. I am delighted to welcome him as we pursue studies of IMVT-1401 for multiple autoimmune diseases,” said Pete Salzmann, M.D., Chief Executive Officer of Immunovant.

“IMVT-1401 is a promising subcutaneous product candidate with the potential to treat a number of serious and rare diseases with significant unmet medical need. I am excited to be joining Immunovant at this key stage in its development and look forward to working with the team to bring new medicines to the market and meaningfully improve patients’ lives,” said Dr. Zeldin.

Dr. Zeldin joins Immunovant from Acceleron Pharma, a biopharmaceutical company focused on the discovery and development of protein therapeutics for serious and rare diseases, where he served as CMO. Previously he was CMO of Belgium-based Ablynx NV, where he served on the company’s Executive Committee and directed the Phase 3 development program and regulatory filings for caplacizumab, which has been approved for the treatment of thrombotic thrombocytopenic purpura in the U.S. and Europe. Ablynx was acquired by Sanofi for $4.8 billion.

Dr. Zeldin’s career in industry began at Merck, where he spent seven years in increasingly strategic roles in worldwide regulatory affairs and clinical development. After Merck, he served as Vice President and U.S. Medical Franchise Head – Respiratory and Dermatology at Novartis Pharmaceuticals, and then as Senior Vice President and Head of Global Clinical Development at Stallergenes SA.

Prior to his work in industry, Dr. Zeldin served as a Medical Officer at the U.S. Food & Drug Administration’s Center for Biologics Evaluation and Research. He also spent several years in clinical practice. He holds an M.D. from Tufts University School of Medicine. His postdoctoral training included Residency in Internal Medicine at the University Health Center of Pittsburgh and Fellowship in Allergy and Clinical Immunology at the Johns Hopkins University School of Medicine.

A graduate of Yale Law School, Mr. Middlekauff brings over twenty-five years of legal, business and industry experience to Immunovant. “Brad has tremendous breadth and depth of legal experience across a range of publicly traded biotechs. I am delighted to welcome him as we expand our clinical studies and establish a strong corporate foundation,” said Dr. Salzmann.

“I am thrilled to join the Immunovant team, as we look to build a first-rate life science company poised to develop and deliver products that could dramatically impact patients’ lives across a broad spectrum of autoimmune diseases,” said Mr. Middlekauff.

Mr. Middlekauff joins Immunovant from PDS Biotechnology Corporation (formerly known as Edge Therapeutics), where Mr. Middlekauff served as Senior Vice President, General Counsel and Secretary, and was responsible for all legal and compliance aspects of a publicly traded life science company. He previously served as Chief Legal Officer, General Counsel and Secretary at Kolltan Pharmaceuticals, where he also ran the business development function; Senior Vice President, General Counsel and Secretary of Medarex, a publicly traded antibody company that developed the products later known as Yervoy® and Opdivo® and was sold to Bristol-Myers Squibb for $2.4 billion; and Vice President, Business Development and General Counsel at Algos Pharmaceuticals, a publicly traded drug development company that was sold to Endo Pharmaceuticals. Mr. Middlekauff served on the Executive Committee at each of these companies.

Mr. Middlekauff has served as Executive-in-Residence at Princeton University and is a member of the board of directors of ProteoDesign, a biotechnology company based in Barcelona, Spain.

Following a clerkship in the Southern District of New York, Mr. Middlekauff started his career in biotechnology working as an associate at Cooley Godward, where he advised life science companies on numerous business and legal matters.

About Immunovant
Immunovant, a member of the Roivant family of companies, is a clinical-stage biopharmaceutical company focused on developing innovative therapies that are designed to not only treat the symptoms, but also modify the course, of autoimmune disease. Immunovant’s lead program is IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody in development as a subcutaneous formulation for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies.

About Roivant Sciences
Roivant aims to improve health by rapidly delivering innovative medicines and technologies to patients. Roivant does this by building Vants – nimble, entrepreneurial biotech and healthcare technology companies with a unique approach to sourcing talent, aligning incentives, and deploying technology to drive greater efficiency in R&D and commercialization.