Immunovant is a clinical-stage biopharmaceutical company developing IMVT-1402 to treat autoimmune diseases. The company is currently pre-revenue and has no approved products. IMVT-1402 is an FcRn inhibitor that blocks the recycling of IgG antibodies, which causes the body to break down harmful antibodies that attack its own tissues. Immunovant's strategy relies on the premise that deeper IgG reduction leads to better clinical outcomes. The company is testing IMVT-1402 in clinical trials for six indications: Graves' disease, rheumatoid arthritis, myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, Sjögren's disease, and cutaneous lupus erythematosus. Immunovant is majority-owned by Roivant Sciences and relies on contract manufacturing organizations for all production. Its business model focuses on advancing its clinical pipeline toward regulatory approval and building a specialized U.S. sales force to target specialist physicians. The company previously discontinued development of an earlier drug to focus entirely on IMVT-1402. Immunovant funds its operations through equity financing and owes royalties and milestone payments to HanAll Biopharma under a licensing agreement.