Roivant Sciences founder to step down as CEO

(Reuters) - The founder of Roivant Sciences will step down from the role of chief executive officer, the SoftBank-backed biotechnology company said on Monday.

Chief Financial Officer Matt Gline will replace Vivek Ramaswamy, who will step into the role of executive chairman.

The move would "separate my increasing public engagement from Roivant's day-to-day operations", Ramaswamy said in a letter to the company's shareholders.

Japan's Sumitomo Dainippon Pharma Co owns a 10% stake in Roivant.

(Reporting by Manas Mishra in Bengaluru; Editing by Maju Samuel)