Document:

EX-10.27

 Exhibit 10.27 

March 22, 2018 

DERMAVANT SCIENCES, INC. 

EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”) is entered into as of March 22, 2018, by and between
Chris Van Tuyl (the “Executive”) and Dermavant Sciences, Inc. (the “Company”). 

RECITALS 

A. The Company desires the association and services of the Executive and his skills, abilities, background and
knowledge, and is willing to engage the Executive’s services on the terms and conditions set forth in this Agreement. 

B. The Executive desires to be in the employ of the Company, and is willing to accept such employment on the terms and
conditions set forth in this Agreement. 
 C. This Agreement supersedes any and all prior and contemporaneous oral or
written employment agreements or arrangements between the Executive and the Company or any predecessor thereof. 

AGREEMENT 

In consideration of the foregoing, the parties agree as follows: 
  

	 	1.	 EMPLOYMENT BY THE COMPANY.

 1.1 Position; Duties. Subject to the terms and conditions of this Agreement, the
Executive shall hold the position of General Counsel. In this position, the Executive will have the duties and authorities normally associated with a General Counsel of a company. The Executive will report to, and be subject to the direction of, the
Company’s President and Chief Operating Officer. The Executive shall devote the Executive’s full business energies, interest, abilities and productive time to the proper and efficient performance of the Executive’s duties under this
Agreement; provided, however, that the Executive may devote reasonable periods of time to (a) serving on the board of directors of other corporations subject to the prior approval of the Company’s Board of Directors (the
“Board”), and (b) engaging in charitable or community service activities, so long as none of the foregoing additional activities materially interfere with the Executive’s duties under this Agreement. 

1.2 Service to Affiliates. It is understood and agreed that the Executive’s duties may include providing
services to or for the benefit of the Company’s affiliates, including, but not limited to, Dermavant Sciences Ltd. (the “Parent”), provided, that the Executive agrees that he will not provide any services from within the
United States for the Parent or any affiliate of the Parent that is organized in a jurisdiction outside the United States. The Executive will not become an employee of the Parent, and the Executive’s activities in respect of services to the
Parent shall be strictly ministerial and shall not involve conducting any of the Parent’s business activities from within the United States, including day-to-day
management or other operational activities of the Parent. 

  
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 1.3 Location of Employment. The Executive’s principal
place of employment shall be the Company’s offices located in Arizona. The Executive understands that his duties may require periodic business travel. 

1.4 Policies and Procedures. The employment relationship between the parties shall be governed by this Agreement
and by the policies and practices established by the Company and/or its Board. In the event that the terms of this Agreement differ from or are in conflict with the Company’s policies or practices, this Agreement shall govern and control. 

1.5 Exclusive Employment; Agreement not to Compete. Subject to Section 1.1 and 1.2 above, except with the
prior written consent of the Board, the Executive will not during his employment with the Company undertake or engage in any other employment, occupation or business enterprise. During the Executive’s employment, the Executive agrees not to
acquire, assume or participate in, directly or indirectly, any position, investment or interest known by the Executive to be adverse or antagonistic to the Company, its business, or prospects, financial or otherwise, or in any company, person, or
entity that is, directly or indirectly, in competition with the business of the Company. Ownership by the Executive in professionally managed funds over which the Executive does not have control or discretion in investment decisions, or, an
investment of less than two percent (2%) of the outstanding shares of capital stock of any corporation with one or more classes of its capital stock listed on a national securities exchange or publicly traded on a national securities exchange or in
the over-the-counter market shall not constitute a breach of this Section. 

1.6 Start Date. The Executive’s employment with the Company shall commence on March 30, 2018 (the
“Start Date”). 
  

	 	2.	 AT-WILL EMPLOYMENT.

 The Executive’s employment relationship with the Company is, and shall at all times remain, at-will. This means that either the Executive or the Company may terminate the employment relationship at any time, for any reason or for no reason, with or without Cause (as defined below) or advance notice;
provided, however, the Executive must provide the Company at least three (3) months’ advance written notice of the Executive’s intention to resign from employment (except for a resignation for Good Reason, in which case
such procedure shall be governed by the terms set forth in the definition of Good Reason) and the Company shall provide the Executive written notice in the event of a termination of the Executive’s employment by the Company without Cause. 

 

	 	3.	 COMPENSATION AND BENEFITS. 

3.1 Salary. The Company shall pay the Executive a base salary at the annualized rate of $365,000.00 (or $15,209.00 per
pay period) (the “Base Salary”), less payroll deductions and all required withholdings, payable in regular periodic payments in accordance with the Company’s normal payroll practices. The Base Salary shall be prorated
for any partial year of employment on the basis of a 365-day year. The Base Salary shall be subject to periodic review and may be adjusted from time to time in the Board’s discretion. This position is
classified as exempt from overtime. 

  
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 3.2 Annual Performance Bonus. Each fiscal year, the Executive
will be eligible to earn an annual discretionary cash bonus (the “Annual Performance Bonus”) with a target bonus opportunity equal to 40% of the Executive’s Base Salary, based on the Board’s assessment of the
Executive’s individual performance and overall Company performance. The Executive’s initial eligibility for this bonus will be for the period beginning April 1, 2018 through March 31, 2019. In order to earn and receive the Annual
Performance Bonus, the Executive must remain employed by the Company through and including the date on which the Annual Performance Bonus is paid, except as otherwise set forth in Section 5.1. The Annual Performance Bonus, if any, will be paid
no later than thirty (30) days following the end of the Company’s fiscal year (March 31st) or by April 30th. The Annual Performance Bonus payable, if any, shall be prorated for the initial year of employment (on the basis of a 365-day year) or prorated if the Company’s review or assessment of the Executive’s performance covers a period that is less than a full fiscal year. The determination of whether the Executive has earned a
bonus and the amount thereof shall be determined by the Board (and/or a committee thereof) in its sole discretion. The Board (and/or a committee thereof) reserves the right to modify the bonus criteria from year to year. 

3.3 Equity. Subject to the terms of the Parent’s 2016 Equity Incentive Plan (the
“Plan”) and approval of the grant by the board of directors of the Company and the board of directors of the Parent (the “Parent Board”), the Executive will be granted an option to purchase 625,000
shares of Dermavant Sciences Ltd. common stock (the “Dermavant Award”). The Dermavant Award will be granted on the 20th day of the month (or the following business day if the 20th day is a weekend or holiday) following the
commencement of the Executive’s employment and will be subject to a 4-year vesting period, with (i) twenty-five percent (25%) of the Dermavant Award vesting on the
one-year anniversary of the grant of the Dermavant Award and (ii) the balance of the Dermavant Award vesting in a series of twelve (12) successive equal quarterly installments measured from the first
anniversary of the grant of the Dermavant Award, provided the Executive is employed by the Company on each such vesting date. The Dermavant Award will be governed by the Plan and other documents issued in connection with the grant and will expire
and cease to be exercisable on the ten (10) year anniversary of the grant of the Dermavant Award. Upon a Change of Control (as defined in the Plan), any unvested portion of the Dermavant Award shall immediately vest in full. 

3.4 Benefits and Insurance. The Executive shall, in accordance with Company policy and the terms of the
applicable plan documents, be eligible to participate in benefits under any benefit plan or arrangement that may be in effect from time to time and made available to similarly situated Company executives (including, but not limited to, being named
as an officer for purposes of the Company’s Directors & Officers insurance policy). The Company reserves the right in its sole discretion to modify, add or eliminate benefits at any time. All benefits shall be subject to the terms and
conditions of the applicable plan documents, which may be amended or terminated at any time. The Executive shall be entitled to vacation each year, in addition to sick leave and observed holidays in accordance with the policies and practices of the
Company. Vacation may be taken at such times and intervals as the Executive shall determine, subject to the business needs of the Company. 

  
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 3.5 Expense Reimbursements. The Company will reimburse the Executive
for all reasonable business expenses that the Executive incurs in conducting his duties hereunder, pursuant to the Company’s usual expense reimbursement policies. Reimbursement will be made as soon as practicable following receipt from the
Executive of reasonable documentation supporting said expenses. 
  

	 	4.	 PROPRIETARY INFORMATION OBLIGATIONS.

 As a condition of employment, the Executive agrees to execute and abide by the Company’s
Employee Non-Disclosure and Inventions Assignment Agreement (“NDA”). 
  

	 	5.	 TERMINATION OF EMPLOYMENT. 

5.1 Termination Without Cause Or Resignation For Good Reason. If the Executive’s employment with the Company is
terminated without Cause or the Executive resigns for Good Reason (as defined below), then the Company shall pay the Executive any earned but unpaid Base Salary and unused vacation accrued (if applicable) through the date of termination, at the
rates then in effect, less standard deductions and withholdings. In addition, if the Executive furnishes to the Company an executed waiver and release of claims in a form provided by the Company, which may include an obligation for the Executive to
provide reasonable transition assistance (the “Release”) that is nonrevocable prior to the Release Date (as defined below), and if the Executive allows the Release to become effective in accordance with its terms, then the
Executive shall receive an (i) an Annual Performance Bonus for the year of termination, payable at the same time that Annual Bonuses are paid to active employees of the Company, (ii) continued payments of the Executive’s Base Salary
for the one year period following termination, payable in equal installments in accordance with customary payroll practices, but no less frequently than monthly, and (iii) reimbursement for COBRA coverage for twelve (12) months following
termination of employment, which shall be taxable to the Executive, to the extent required by applicable law. The installment payments set forth in the preceding clause (ii) shall commence within ten (10) days following the Release Date
and will be subject to required withholding; provided that, any amounts that would have otherwise been paid during the period between the Executive’s termination date and the first payment date in accordance with payroll practices will be
included in the first payment. 
 5.2 Other Termination. If the Executive resigns his employment at any time
without Good Reason or the Executive’s employment is terminated by the Company at any time for Cause or due to death or Disability (as defined below), the Company shall pay the Executive (or his estate) any Base Salary and any unused vacation
accrued (if applicable) through the date of such resignation or termination, at the rates then in effect, less standard deductions and withholdings. The Company shall thereafter have no further obligations to the Executive, except as may otherwise
be required by law. 

  
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 5.3 Definitions. For purposes of this Agreement, the following
terms shall have the following meanings: 
 (a) “Cause” shall mean the occurrence of any of
the following, the Executive’s: (i) conviction of, or plea of no contest to, any felony or any crime involving moral turpitude or dishonesty, (ii) participation in a fraud against the Company, (iii) willful and material breach of
the Executive’s duties and obligations under this Agreement or any other agreement between the Executive and the Company or its affiliates that has not been cured (if curable) within thirty (30) days after receiving written notice from the
Board of such breach, (iv) engagement in conduct that causes or is reasonably likely to cause material damage to the Company’s property or reputation, (v) material failure to comply with the Company’s Code of Conduct or other
material policies, or (vi) violation of any law, rule or regulation (collectively, “Law”) relating in any way to the business or activities of the Company or its subsidiaries or affiliates, or other Law that is violated
during the course of the Executive’s performance of services hereunder that results in the Executive’s arrest, censure, or regulatory suspension or disqualification, including, without limitation, the Generic Drug Enforcement Act of 1992,
21 U.S.C. § 335(a), or any similar legislation applicable in the United States or in any other country where the Company intends to develop its activities. “Disability” shall mean the Executive’s inability to
perform his duties and responsibilities hereunder, with or without reasonable accommodation, due to any physical or mental illness or incapacity, which condition has continued for a period of 180 days (including weekends and holidays) in any
consecutive 365-day period. 
 (b) “Good Reason”
shall mean the occurrence of any of the following events without the Executive’s consent: (i) a material reduction of the Executive’s Base Salary as initially set forth herein or as the same may be increased from time to time,
provided, however, that if such reduction occurs in connection with a Company-wide decrease in executive officer team compensation, such reduction shall not constitute Good Reason provided that it is a reduction of a proportionally
like amount or percentage affecting the entire executive team not to exceed 10%; (ii) material reduction in the Executive’s authority, duties or responsibilities, as compared to the Executive’s authority, duties or responsibilities
immediately prior to such reduction; or (iii) a change in the Executive’s principal location of employment, resulting in an increase in the Executive’s one-way driving distance by more than
fifty (50) miles from the Executive’s then current principal residence on file with the Company; provided, however, any resignation by the Executive shall only be deemed for Good Reason pursuant to this definition if:
(1) the Executive gives the Company written notice of the Executive’s intent to terminate for Good Reason within ninety (90) days following the first occurrence of the condition(s) that he believes constitute(s) Good Reason, which
notice shall describe such condition(s); (2) the Company fails to remedy such condition(s) within thirty (30) days following receipt of the written notice (the “Cure Period”); and (3) the Executive voluntarily
terminates his employment within thirty (30) days following the end of the Cure Period. 
 5.4 “Release
Date” shall mean the date that is fifty-five (55) days following the date of the Executive’s termination. 

  
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 5.5 Effect of Termination. The Executive agrees that should his
employment be terminated for any reason, he shall be deemed to have resigned from any and all positions with the Company, including, but not limited to, his position on the Board and Parent Board, as applicable. 

5.6 Section 409A Compliance. 

(a) It is intended that any benefits under this Agreement satisfy, to the greatest extent possible, the exemptions from
the application of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), provided under Treasury Regulations Sections 1.409A-1(b)(4), and 1.409A-1(b)(9), and this Agreement will be construed to the greatest extent possible as consistent with those provisions, and to the extent not so exempt, this Agreement (and any definitions hereunder) will be
construed in a manner that complies with Section 409A. For purposes of Section 409A (including, without limitation, for purposes of Treasury Regulations Section 1,409A-2(b)(2)(iii)), the
Executive’s right to receive any installment payments under this Agreement (whether severance payments, if any, or otherwise) shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment
hereunder shall at all times be considered a separate and distinct payment. A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or
following a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a “resignation,”
“termination,” “termination of employment” or like terms shall mean separation from service. Notwithstanding any provision to the contrary in this Agreement, if Executive is deemed by the Company at the time of a separation from
service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i), and if any payments or benefits that the Executive becomes entitled to under this Agreement on account of such separation from service are deemed to be
“deferred compensation,” then to the extent delayed commencement of any portion of such payments or benefits is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) and the related adverse taxation under
Section 409A, such payments shall not be provided prior to the earliest of (i) the expiration of the six-month period measured from the date of separation from service, (ii) the date of
Executive’s death or (iii) such earlier date as permitted under Section 409A without the imposition of adverse taxation. Upon the first business day following the expiration of such period, all payments deferred pursuant to this
paragraph shall be paid in a lump sum, and any remaining payments due shall be paid as otherwise provided herein. No interest shall be due on any amounts so deferred. 

(b) With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another
benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, and (iii) such payments shall be made on or before the last day of the Executive’s taxable year following the taxable year in which the expense
was incurred. The Company makes no representation or warranty and shall have no liability to the Executive or any other person if any compensation under this Agreement constitutes deferred compensation subject to Code Section 409 A but does not
satisfy an exemption from, or the conditions of, Code Section 409A. 

  
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 5.7 Section 280G. 

(a) If any payment or benefit (including payments and benefits pursuant to this Agreement) that the Executive would
receive in connection with a transaction (the “Transaction”) from the Company or otherwise (“Transaction Payment”) would (i) constitute a
“parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), and (ii) but for this sentence, be subject to the excise
tax imposed by Section 4999 of the Code (the “Excise Tax”), then the Company shall cause to be determined, before any amounts of the Transaction Payment are paid to the Executive, which of the
following two alternative forms of payment would result in the Executive’s receipt, on an after-tax basis, of the greater amount of the Transaction Payment notwithstanding that all or some portion of the
Transaction Payment may be subject to the Excise Tax: (1) payment in full of the entire amount of the Transaction Payment (a “Full Payment”), or (2) payment of only a part of the
Transaction Payment so that the Executive receives the largest payment possible without the imposition of the Excise Tax (a “Reduced Payment”). For purposes of determining whether to make a Full
Payment or a Reduced Payment, the Company shall cause to be taken into account the value of all applicable federal, state and local income and employment taxes and the Excise Tax (all computed at the highest applicable marginal rate, net of the
maximum reduction in federal income taxes which could be obtained from a deduction of such state and local taxes). If a Reduced Payment is made, (x) the Executive shall have no rights to any additional payments and/or benefits constituting the
Transaction Payment, and (y) reduction in payments and/or benefits shall occur in the manner that results in the greatest economic benefit to the Executive as determined in this paragraph. If more than one method of reduction will result in the
same economic benefit, the portions of the Transaction Payment shall be reduced pro rata. 
 (b) Notwithstanding the
foregoing, in the event that no stock of the Company is readily tradeable on an established securities market or otherwise (within the meaning of Section 280G of the Code) at the time of the Transaction, the Company shall cause a vote of
shareholders to be held to approve the portion of the Transaction Payments that equals or exceeds three times (3x) the Executive’s “base amount” (within the meaning of Section 280G of the Code) (the
“Excess Parachute Payments”) in accordance with Treas. Reg. § 1.280G-1, and the Executive shall cooperate with such vote of shareholders, including the
execution of any required documentation subjecting the Executive’s entitlement to all Excess Parachute Payments to such shareholder vote. In the event that the Company does not cause a vote of shareholder to be held to approve all Excess
Parachute Payments, the provisions set forth in Section 5.7(a) of this Agreement shall apply. 

  
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 (c) Unless the Executive and the Company otherwise agree in writing,
any determination required under this section shall be made in writing by the Company’s independent public accountants (the “Accountants”), whose determination shall be conclusive and binding
upon the Executive and the Company for all purposes. For purposes of making the calculations required by this section, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good
faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Accountants shall provide detailed supporting calculations to the Company and the Executive as requested by the Company or the Executive. The Executive and
the Company shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this section. The Company shall bear all costs the Accountants may reasonably incur in
connection with any calculations contemplated by this section. 
  

	 	6.	 ARBITRATION. 

Except as otherwise set forth below in connection with equitable remedies, any dispute, claim or controversy arising out of or
relating to this Agreement or the Executive’s employment with the Company (collectively, “Disputes”), including, without limitation, any dispute, claim or controversy concerning the validity,
enforceability, breach or termination of this Agreement, if not resolved by the parties, shall be finally settled by arbitration in accordance with the then-prevailing Employment Arbitration Rules and Procedures of JAMS, as modified herein
(“Rules”). The requirement to arbitrate covers all Disputes (other than disputes which by statute are not arbitrable) including, but not limited to, claims, demands or actions under the Age
Discrimination in Employment Act (including Older Workers Benefit Protection Act); Americans with Disabilities Act; Civil Rights Act of 1866; Civil Rights Act of 1991; Employee Retirement Income Security Act of 1974; Equal Pay Act; Family and
Medical Leave Act of 1993; Title VII of the Civil Rights Act of 1964; Fair Labor Standards Act; Fair Employment and Housing Act; and any other law, ordinance or regulation regarding discrimination or harassment or any terms or conditions of
employment. There shall be one arbitrator who shall be jointly selected by the parties. If the parties have not jointly agreed upon an arbitrator within twenty (20) calendar days of respondent’s receipt of claimant’s notice of
intention to arbitrate, either party may request JAMS to furnish the parties with a list of names from which the parties shall jointly select an arbitrator. If the parties have not agreed upon an arbitrator within ten (10) calendar days of the
transmittal date of such list, then each party shall have an additional five (5) calendar days in which to strike any names objected to, number the remaining names in order of preference, and return the list to JAMS, which shall then select an
arbitrator in accordance with the Rules. The place of arbitration shall be New York, New York. By agreeing to arbitration, the parties hereto do not intend to deprive any court of its jurisdiction to issue a
pre-arbitral injunction, including, without limitation, with respect to the NDA. The arbitration shall be governed by the Federal Arbitration Act, 9 U.S.C. §§
1-16. Judgment upon the award of the arbitrator may be entered in any court of competent jurisdiction. The arbitrator shall: (a) have authority to compel adequate discovery for the resolution of the
dispute and to award such relief as would otherwise be available under applicable law in a court proceeding; and (b) issue a written statement signed by the arbitrator regarding the disposition of each claim and the 

  
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 relief, if any, awarded as to each claim, the reasons for the award, and the
arbitrator’s essential findings and conclusions on which the award is based. The Company shall pay all administrative fees of JAMS in excess of $435 (a typical filing fee in court) and the arbitrator’s fees and expenses. Each party shall
bear its or his own costs and expenses (including attorney’s fees) in any such arbitration and the arbitrator shall have no power to award costs and attorney’s fees except as provided by statute or by separate written agreement between the
parties. In the event any portion of this arbitration provision is found unenforceable by a court of competent jurisdiction, such portion shall become null and void leaving the remainder of this arbitration provision in full force and effect. The
parties agree that all information regarding the arbitration, including any settlement thereof, shall not be disclosed by the parties hereto, except as otherwise required by applicable law. 

 

	 	7.	 GENERAL PROVISIONS. 

 

	 	7.1	 Representations and Warranties. 

(a) The Executive represents and warrants that the Executive is not restricted or prohibited, contractually or
otherwise, from entering into and performing each of the terms and covenants contained in this Agreement, and that the Executive’s execution and performance of this Agreement will not violate or breach any other agreements between the Executive
and any other person or entity. The Executive represents and warrants that the Executive is not subject to any confidentiality, noncompetition agreement or any other similar type of restriction that could restrict in any way the Executive’s
hiring by the Company and the performance of the Executive’s expected job duties with the Company. 
 (b) The
Company and its affiliates do not wish to incorporate any unlicensed or unauthorized material, or otherwise use such material in any way in connection with, its and their respective products and services. Therefore, the Executive hereby represents,
warrants and covenants that he has not and will not disclose to the Company or its affiliates, use in their business, or cause them to use, any information or material which is a trade secret, or confidential or proprietary information, of a third
party, including, but not limited to, any former employer, competitor or client, unless the Company or its affiliates have a right to receive and use such information or material. 

(c) The Executive represents and warrants that the Executive is not debarred and has not received notice of any action
or threat with respect to debarment under the provisions of the Generic Drug Enforcement Act of 1992, 21 U.S.C. § 335(a) or any similar legislation applicable in the United States or in any other country where the Company intends to develop its
activities. The Executive understands and agrees that this Agreement is contingent on the Executive’s submission of satisfactory proof of identity and legal authorization to work in the United States, as well as verification of auditor
independence. 
 7.2 Advertising Waiver. The Executive agrees to permit the Company, and persons or other
organizations authorized by the Company, to use, publish and distribute advertising or sales promotional literature concerning the products and/or services of the Company in which the Executive’s name and/or pictures of the Executive appear.
The Executive hereby waives and releases any claim or right the Executive may otherwise have arising out of such use, publication or distribution. 

  
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 7.3 Miscellaneous. This Agreement, along with the NDA and any
applicable equity awards that have been granted, constitutes the complete, final and exclusive embodiment of the entire agreement between the Executive and the Company with regard to its subject matter. It is entered into without reliance on any
promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations. This Agreement may not be modified or amended except in a writing signed by both the
Executive and a duly authorized officer or member of the Board. This Agreement will bind the heirs, personal representatives, successors and assigns of both the Executive and the Company, and inure to the benefit of both the Executive and the
Company, and to his and its heirs, successors and assigns, except that the duties and responsibilities of the Executive are of a personal nature and shall not be assignable or delegable in whole or in part by the Executive. The Company may assign
its rights, together with its obligations hereunder, in connection with any merger, consolidation, or transfer or other disposition of all or substantially all of its assets, and such rights and obligations shall inure to, and be binding upon, any
successor to the Company or any successor to all or substantially all of the assets of the Company, which successor shall expressly assume such obligations. If any provision of this Agreement is determined to be invalid or unenforceable, in whole or
in part, this determination will not affect any other provision of this Agreement and the provision in question will be modified so as to be rendered enforceable. This Agreement will be deemed to have been entered into and will be construed and
enforced in accordance with the laws of the State of New York as applied to contracts made and to be performed entirely within New York. Any ambiguity in this Agreement shall not be construed against either party as the drafter. Any waiver of a
breach of this Agreement shall be in writing and shall not be deemed to be a waiver of any successive breach. This Agreement may be executed in counterparts and facsimile signatures will suffice as original signatures. 

  
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 IN WITNESS WHEREOF, the parties have executed this
Agreement as of the day and year first written above. 
  

			
	DERMAVANT SCIENCES, INC.
		
	By:	 	 /s/ Vincent Ippolito

		 	Name: Vincent Ippolito
		 	Title: President and Chief Operating Officer

  

	
	ACCEPTED AND AGREED:
	
	 /s/ Chris Van Tuyl

	Chris Van Tuyl

  
 11EX-10.28

 Exhibit 10.28 

September 4, 2018 
 Jacqualyn
Fouse, Ph.D. 
 RE:     Separation Agreement and General Release 

Dear Jackie, 
 Your employment
with Dermavant Sciences, Inc. will be terminated effective September 4, 2018 (the “Termination Date”). This Separation Agreement and General Release (this “Agreement”) sets forth the terms and conditions under which
Dermavant Sciences, Inc. is offering you a bonus in exchange for you making and honoring certain commitments, including agreeing not to pursue legal action against the Company as described in Sections 6 and 7. 

PLEASE NOTE: THIS DOCUMENT HAS IMPORTANT LEGAL CONSEQUENCES TO YOU. YOU SHOULD CONSULT AN ATTORNEY OF YOUR CHOICE, AT YOUR EXPENSE, PRIOR
TO EXECUTING IT. 
  

	1.	 Parties To This Agreement 

This letter is a proposed agreement that Dermavant Sciences, Inc. is offering to you. In this document, references to
JACQUALYN FOUSE refer to “you” and DERMAVANT SCIENCES, INC. is referred to as “Dermavant” or the “Company.” Together, you and Dermavant are referred to as the “Parties.” 

 

	2.	 What You Will Receive Only If You Enter Into This Agreement. 

As long as you timely sign, date and return this Agreement (but in no case later than 21 days after presentation of
agreement), and you comply with this Agreement’s requirements, you will receive a bonus in an amount equal to your target annual performance bonus, prorated for the period from April 1, 2018 through September 4, 2018, which
shall be payable in a lump sum as soon as practicable following the effective date of this Agreement but no later than the payroll cycle immediately following the effective date. 

 

	3.	 W-2s. 

The Company will issue an IRS Form W-2 to you in connection with payments described in
Section 2. 
  

	4.	 How To Enter Into This Agreement. 

In order to enter into this Agreement, you must take the following steps: 

  
 1 

	 	•	 	 You must sign and date this Agreement. Signing and dating the Agreement is how you “Execute” the
Agreement. 

  

	 	•	 	 You must return the Executed Agreement to me before September 25, 2018, (unless such period is extended
in writing by the Company), but no earlier than the Termination Date. If I do not receive the signed and dated Agreement by that date, the offer will be deemed withdrawn, this Agreement will not take effect and you will not receive the bonus
described in Section 2. 

  

	 	•	 	 You must comply with the terms and conditions of this Agreement. 

 

	5.	 Your Acknowledgments. 

By entering into this Agreement, you are agreeing: 
  

	 	•	 	 The bonus amount in Section 2 is more than any amount or benefits that you are otherwise promised or
entitled to receive under any policy, plan, handbook or practice of the Company or any prior offer letter, agreement or understanding between the Company and you. 

 

	 	•	 	 After your employment ends, except as provided for in this Agreement (and without impacting any accrued vested
benefits under any applicable tax-qualified retirement or other benefit plans of the Company), you will no longer participate or accrue service credit of any kind in any employee benefits plan of the Company
or any of its affiliates. 

  

	 	•	 	 With respect to the stock options granted to you (the “Option Award”) pursuant to
Section 3.3(a) of your employment agreement with the Company dated July 1, 2017 (the “Employment Agreement”), (a) twenty- five percent (25%) of the Option Award vested on July 1, 2018; and (b) the remaining unvested
portion of your Option Award (including but not limited to the unvested portion of your Option Award that would otherwise vest on October 1, 2018) shall be forfeited as of the Termination Date, and you shall have no further rights with respect
thereto. In addition, all 66,845 restricted stock units granted to you pursuant to the Roivant Sciences Ltd. 2015 Restricted Stock Unit Plan will be forfeited as of the Termination Date. You also hereby acknowledge and agree that you will not be
entitled to receive any Anti-Dilution Grants (as defined in the Employment Agreement) and hereby waive any and all rights you may have with respect thereto. 

  

	 	•	 	 Your obligations under your signed Employment Agreement dated July 1, 2017, and the Employee Non-Disclosure, Inventions Assignment and Restrictive Covenant Agreement (“NDA”) between you and the Company, shall remain in full force and effect and you acknowledge and
re-affirm those obligations. 

  

	6.	 YOU ARE RELEASING AND WAIVING CLAIMS 

While it is very important that you read this entire Agreement carefully, it is especially important that you read
this Section carefully, because it lists important rights you are giving up if you decide to enter into this Agreement. 

  
 2 

 Who And What Does The Release Cover? 

What Are You Giving Up? It is the Company’s position that you have no legitimate basis for bringing a legal
action against it. You may agree or believe otherwise or simply not know. However, if you Execute this Agreement, you will, except for certain exceptions described in Section 8, give up your ability to bring a legal action against the Company
and others, including, but not limited to its affiliates. More specifically, by Executing this Agreement, you will give up any right you may have to bring various types of “Claims,” which means possible lawsuits, claims, demands and causes
of action of any kind (based on any legal or equitable theory, whether contractual, common-law, statutory, federal, state, local or otherwise), whether known or unknown, by reason of any act or omission up to
and including the date on which you Execute this Agreement. You are also giving up potential Claims arising under any contract or implied contract, including but not limited to your Employment Agreement or any handbook, tort law or public policy
having any bearing on your employment or the termination of your employment, such as Claims for wrongful discharge, discrimination, hostile work environment, breach of contract, tortious interference, harassment, bullying, infliction of emotional
distress, defamation, back pay, vacation pay, sick pay, wage, commission or bonus payment, equity grants, stock options, restricted stock option payments, payments under any bonus or incentive plan, attorneys’ fees, costs and future wage loss.
This Agreement includes a release of your right to assert a Claim of discrimination on the basis of age, sex, race, religion, national origin, marital status, sexual orientation, gender identity, gender expression, ancestry, parental status,
handicap, disability, military status, veteran status, harassment, retaliation or attainment of benefit plan rights. However, as described in Section 8, this Agreement does not and cannot prevent you from asserting your right to bring a claim
against the Company and Releasees, as defined below, before the Equal Employment Opportunity Commission or other agencies enforcing non-discrimination laws or the National Labor Relations Board. 

Whose Possible Claims Are You Giving Up? You are waiving Claims that you may otherwise be able to bring. You are
not only agreeing that you will not personally bring these Claims in the future, but that no one else will bring them in your place, such as your heirs and executors, and your dependents, legal representatives and assigns. Together, you and these
groups of individuals are referred to in the Agreement as “Releasors.” 
 Who Are You Releasing From Possible
Claims? You are not only waiving Claims that you and the Releasors may otherwise be able to bring against the Company, but also Claims that could be brought against “Releasees,” which means the Company and all of their past,
present and future: 
  

	 	•	 	 shareholders 

  

	 	•	 	 officers, directors, employees, attorneys and agents 

 

	 	•	 	 subsidiaries, divisions and affiliated and related entities 

 

	 	•	 	 employee benefit and pension plans or funds 

 

	 	•	 	 successors and assigns 

 

	 	•	 	 trustees, fiduciaries and administrators 

  
 3 

 Possible Claims You May Not Know. It is possible that you may
have a Claim that you do not know exists. By entering into this Agreement, you are giving up all Claims that you ever had including Claims arising out of your employment or the termination of your employment. Even if Claims exist that you do not
know about, you are giving them up. 
 What Types of Claims Are You Giving Up? In exchange for the bonus in
Section 2, you (on behalf of yourself and the Releasors) forever release and discharge the Company and all of the Releasees from any and all Claims including Claims arising under the following laws (including amendments to these laws): 

Federal Laws, such as: 
  

	 	•	 	 The Age Discrimination in Employment Act; 

 

	 	•	 	 The Older Workers Benefit Protection Act; 

 

	 	•	 	 Title VII of the Civil Rights of 1964; 

 

	 	•	 	 Sections 1981 through 1988 of Title 42 of the United States Code; 

 

	 	•	 	 The Civil Rights Act of 1991; 

 

	 	•	 	 The Equal Pay Act; 

  

	 	•	 	 The Americans with Disabilities Act; 

 

	 	•	 	 The Rehabilitation Act; 

 

	 	•	 	 The Employee Retirement Income Security Act; 

 

	 	•	 	 The Worker Adjustment and Retraining Notification Act; 

 

	 	•	 	 The National Labor Relations Act; 

 

	 	•	 	 The Fair Credit Reporting Act; 

 

	 	•	 	 The Occupational Safety and Health Act; 

 

	 	•	 	 The Uniformed Services Employment and Reemployment Act; 

 

	 	•	 	 The Employee Polygraph Protection Act; 

 

	 	•	 	 The Immigration Reform Control Act; 

 

	 	•	 	 The Family and Medical Leave Act; 

 

	 	•	 	 The Genetic Information Nondiscrimination Act; 

 

	 	•	 	 The Federal False Claims Act; 

 

	 	•	 	 The Patient Protection and Affordable Care Act; 

 

	 	•	 	 The Consolidated Omnibus Budget Reconciliation Act; and 

 

	 	•	 	 The Lilly Ledbetter Fair Pay Act. 

State and Municipal Laws, such as: 
  

	 	•	 	 The New York State Human Rights Law; the New York State Executive Law; the New York State Civil Rights Law;
the New York State Whistleblower Law; the New York State Legal Recreational Activities Law; the retaliation provisions of the New York State Workers’ Compensation Law; the New York Labor Law; the New York State Worker Adjustment and Retraining
Notification Act; the New York State False Claims Act; New York State Wage and Hour Laws; the New York State Equal Pay Law; the New York State Rights of Persons with Disabilities Law; the New York State Nondiscrimination Against Genetic Disorders
Law; the New York State Smokers’ Rights Law; the New York AIDS Testing Confidentiality Act; the New York Genetic Testing Confidentiality Law; the New York Discrimination by Employment Agencies Law; the New York Bone Marrow Leave Law; the New
York Adoptive Parents Child Care Leave Law; the New York City Human Rights Law; the New York City Administrative Code; the New York City Paid Sick Leave Law; and the New York City Charter; and 

  
 4 

	 	•	 	 The North Carolina Employment Practices Act; the Retaliatory Employment Discrimination Act; the Persons with
Disabilities Protection, Discrimination Against Persons with Sickle Cell Trait; Discrimination Based Upon Genetic Testing and Information; Discrimination Based Upon Use of Lawful Products; Discrimination Based Upon AIDS or HIV Status; Hazardous
Chemicals Right to Know Act; Jury Service Discrimination; Military Service Discrimination; and all of their respective implementing regulations; and 

  

	 	•	 	 The Massachusetts Fair Employment Practices Law; the Massachusetts Civil Rights Act; the Massachusetts Equal
Rights Act; the Minimum Fair Wage Act; the Massachusetts Plant Closing Law; the Massachusetts Equal Pay Act; the Massachusetts Parental Leave Act; the Massachusetts Sexual Harassment Statute; and all of their respective implementing regulations. By
signing this letter agreement, you are acknowledging that this waiver includes any future claims against the Company under Mass. Gen. Laws ch. 149, § 148 - the Massachusetts Wage Act. These claims include, but are not limited to, failure
to pay earned wages, failure to pay overtime, failure to pay earned commissions, failure to timely pay wages, failure to pay accrued vacation or holiday pay, failure to furnish appropriate pay stubs, claims for improper wage deductions, and claims
for failing to provide proper check-cashing facilities; and 

  

	 	•	 	 Any other applicable State or Municipal Law. 

You Are Giving Up Potential Remedies and Relief. You are waiving any relief that may be available to you (such as money damages,
equity grants, benefits, attorneys’ fees, and equitable relief such as reinstatement) under any of the waived Claims, except as provided in Section 8. 

This Release Is Extremely Broad. This release is meant to be as broad as legally permissible and applies to both
employment-related and non-employment-related Claims up to the time that you execute this Agreement. This release includes a waiver of jury trials and non-jury trials.
This Agreement does not release or waive Claims or rights that, as a matter of law, cannot be waived, which include, but are not necessarily limited to, the exceptions to your release of claims or covenant not to sue referenced in Section 8.

  

	7.	 YOU ARE AGREEING NOT TO SUE 

Except as provided in Section 8, you agree not to sue or otherwise bring any legal action against the Company or any of
the Releasees ever for any Claim released in Section 6 arising before you Execute this Agreement. You are not only waiving any right you may have to proceed individually, but also as a member of a class or collective action. You waive any and
all rights you may have had to receive notice of any class or collective action against Releasees for claims arising before you Execute this Agreement. In the event that you receive notice of a class or collective action against Releasees for claims
arising before you Execute this Agreement, you must “opt out” of and may not “opt in” to such action. You are also giving up any right you may have to recover any relief, including money damages, from the Releasees as a member of
a class or collective action. 

  
 5 

	8.	 Exceptions To Your Release Of Claims And Covenant Not To Sue 

In Sections 6 and 7, you are releasing Claims and agreeing not to sue, but there are exceptions to those commitments.
Specifically, nothing in this Agreement prevents you from bringing a legal action or otherwise taking steps to: 
  

	 	•	 	 Enforce the terms of this Agreement; or 

 

	 	•	 	 Challenge the validity of this Agreement; or 

 

	 	•	 	 Make any disclosure of information required by law; or 

 

	 	•	 	 Provide information to, testify before or otherwise assist in any investigation or proceeding brought by, any
regulatory or law enforcement agency or legislative body, any self-regulatory organization, or the Company; or 

  

	 	•	 	 Provide truthful testimony in any forum; or 

 

	 	•	 	 Cooperate fully and provide information as requested in any investigation by a governmental agency or
commission; or 

  

	 	•	 	 File a charge or complaint with the Equal Employment Opportunity Commission, the National Labor Relations
Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission (“Government Agencies”); or 

 

	 	•	 	 File a lawsuit or other action to pursue Claims that arise after you Execute this Agreement.

 For purposes of clarity, this Agreement does not limit your ability to communicate with any Government
Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company. This Agreement does not limit your right to
receive an award for information provided to any Government Agencies. 
  

	9.	 Your Continuing Obligations. 

You acknowledge and re-affirm your continuing obligations pursuant to the Employment
Agreement and the NDA executed between you and the Company, including your confidentiality obligations under Section 2 of the NDA and any restrictions under Sections 4 and 5 of the NDA 

Pursuant to the Defend Trade Secrets Act of 2016, you acknowledge and understand that you will not be held criminally or
civilly liable under any federal or state trade secret law for the disclosure of the trade secrets of the Company or any of its affiliates that is made by you (i) in confidence to a federal, state, or local government official, either directly
or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law, or (ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. 

 

	10.	 Return Of Property. 

As of your Termination Date, you agree that you have returned to the Company all property belonging to the Company including,
but not limited to, electronic devices, equipment, access cards, and paper and electronic documents obtained in the course of your employment. 

  
 6 

	11.	 Prior Disclosures. 

You acknowledge that, prior to the termination of your employment with the Company, you disclosed to the Company, in accordance
with applicable policies and procedures, any and all information relevant to any investigation of the Company’s business practices conducted by any governmental agency or to any existing, threatened or anticipated litigation involving the
Company, whether administrative, civil or criminal in nature, and that you are otherwise unaware of any wrongdoing committed by any current or former employee of the Company that has not been disclosed. Nothing in this Agreement shall prohibit or
restrict you or the Company from (1) making any disclosure of information required by law; (2) providing information to, or testifying or otherwise assisting in any investigation or proceeding brought by any federal or state regulatory or
law enforcement agency or legislative body, any self-regulatory organization, or with respect to any internal investigation by the Company or its affiliates; or (3) testifying, participating in or otherwise assisting in a proceeding relating to
an alleged violation of the Sarbanes-Oxley Act of 2002, the Dodd-Frank Wall Street Reform and Consumer Protection Act, any federal, state or municipal law relating to fraud, or any rule or regulation of any self-regulatory organization. 

 

	12.	 Non-Disparagement 

You agree that you will not, through any medium including, but not limited to, the press, Internet or any other form of
communication, disparage, defame, or otherwise damage or assail the reputation, integrity or professionalism of the Company or the Releasees. Nothing in this Section 12 is intended to restrict or impede your participation in proceedings or
investigations brought by or before the EEOC, NLRB, or other federal, state or local government agencies, or otherwise exercising protected rights to the extent that such rights cannot be waived by agreement, including Section 7 rights under
the National Labor Relations Act. 
  

	13.	 The Company’s Remedies For Breach. 

If you breach any section of this Agreement, including without limitation, Section 6, 7, or 12 or otherwise seek to bring
a Claim given up under this Agreement, the Company will be entitled to all relief legally available to it including equitable relief such as injunctions, and the Company will not be required to post a bond.  

 

	14.	 Governing Law. 

This Agreement is governed by New York law, without regard to conflicts of laws principles.  

 

	15.	 Successors And Assigns. 

This Agreement is binding on the Parties and their heirs, executors, successors and assigns. 

 

	16.	 Severability And Construction. 

If a court with jurisdiction to consider this Agreement determines that any provision is illegal, void or unenforceable, that
provision will be invalid. However, the rest of the Agreement will remain in full force and effect. A court with jurisdiction to consider this Agreement may modify invalid provisions if necessary to achieve the intent of the Parties. 

  
 7 

	17.	 No Admission. 

By entering into this Agreement, neither you nor the Company admits wrongdoing of any kind. 

 

	18.	 Do Not Rely On Verbal Statements. 

 

	 	•	 	 This Agreement sets forth the complete understanding between the Parties. 

 

	 	•	 	 This Agreement may not be changed orally. 

 

	 	•	 	 This Agreement constitutes and contains the complete understanding of the Parties with regard to the end of
your employment and supersedes and replaces all prior oral and written agreements and promises between the Parties, except that, as set forth in Section 5, your restrictive covenant obligations remain in full force and effect.

  

	 	•	 	 Neither the Company nor any representative (nor any representative of any other company affiliated with the
Company), has made any promises to you other than as written in this Agreement. All future promises and agreements must be in writing and signed by both Parties. 

 

	19.	 Your Opportunity To Review and Revoke. 

 

	 	•	 	 Twenty-One Day Review Period. You have twenty-one (21) calendar days from the day you receive this Agreement to consider the terms of this Agreement, sign it and return it to Head of HR, Dermavant Sciences, Inc., 2398 E. Camelback Rd. Suite 280,
Phoenix, AZ 85016, with a copy to General Counsel, Roivant Sciences, Inc., 320 w 37th Street, 6th Floor, New York, NY 10018. Your opportunity
to accept the terms of this Agreement will expire at the conclusion of the twenty-one (21) calendar day period if you do not accept those terms before time expires. That means that your opportunity to accept
the terms of this Agreement will expire on September 25, 2018. You may sign the Agreement in fewer than twenty-one (21) calendar days, if you wish to do so. If you elect to do so, you acknowledge that you have
done so voluntarily. Your signature below indicates that you are entering into this Agreement freely, knowingly and voluntarily, with full understanding of its terms. 

 

	 	•	 	 Talk To A Lawyer. During the twenty-one (21) calendar-day review period, and before executing this Agreement, the Company advises you to consult with an attorney, at your own expense, regarding the terms of this Agreement. 

 

	 	•	 	 Seven Days to Change Your Mind. You have seven (7) calendar days from the date of
signing this Agreement to revoke the Agreement by expressing a desire to do so in writing addressed to Head of HR, Dermavant Sciences, Inc., 2398 E. Camelback Rd. Suite 280, Phoenix, AZ 85016, email address: jen.lustig@dermavant.com, with a copy to
General Counsel, Roivant Sciences, Inc., 320 w 37th Street, 6th Floor, New York, NY 10018, email address: allen.waxman@roivant.com.

  
 8 

	20.	 We Want To Make Absolutely Certain That You Understand This Agreement. 

You acknowledge and agree that: 
  

	 	•	 	 You have carefully read this Agreement in its entirety; 

 

	 	•	 	 You have had an opportunity to consider the terms of this Agreement for at least twenty-one (21) calendar days; 

  

	 	•	 	 You understand that the Company urges you to consult with an attorney of your choosing, at your expense,
regarding this Agreement; 

  

	 	•	 	 You have the opportunity to discuss this Agreement with a lawyer of your choosing, and agree that you had a
reasonable opportunity to do so, and he or she has answered to your satisfaction any questions you asked with regard to the meaning and significance of any of the provisions of this Agreement; 

 

	 	•	 	 You fully understand the significance of all of the terms and conditions of this Agreement; and

  

	 	•	 	 You are executing this Agreement voluntarily and of your own free will and agree to all the terms and
conditions contained in this Agreement. 

  
 9 

 YOU AGREE THAT ANY MODIFICATIONS, MATERIAL OR OTHERWISE, MADE TO THIS AGREEMENT DO NOT
RESTART, EXTEND OR AFFECT IN ANY MANNER THE ORIGINAL REVIEW PERIOD DESCRIBED ABOVE. 
  

							
	 /s/ Chris Van Tuyl
	 		 	 /s/ Jacqualyn Fouse, Ph.D.

	  

DERMAVANT SCIENCES, INC.
	 		 	  

        Jacqualyn Fouse, Ph.D.

				
	 By:
	 	 Chris Van Tuyl
	 		 	
				
	 Dated:
	 	 Sept. 5, 2018
	 		 	     Dated: Sept. 5, 2018

  
 10

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