Company:Axovant Sciences

From HandWiki
Axovant Sciences
NASDAQ: AXON
IndustryBiopharmaceutical
FounderVivek Ramaswamy
Key people
Dr. Pavan Cheruvu (CEO)
Websiteaxovant.com

Axovant Sciences Ltd. is a clinical-stage pharmaceutical company that develops small molecule drugs to treat neurological disorders. The company is legally incorporated in Bermuda, but has headquarters in London, along with secondary offices in Basel, Switzerland and New York City and is traded on the New York Stock Exchange.[1] The company was founded by former hedge fund manager Vivek Ramaswamy[2] in 2014 as a wholly owned subsidiary of Roivant Sciences.[3]

It held its IPO in 2015 and raised $315 million.[4] Biotech analysts John Carroll of FierceBiotech and Adam Feuerstein of The Street noted that the IPO was overvalued based on the inexperience of the CEO and the low quality of its lead product, describing it as something that "GSK sold for lunch money".[5][6]

As of 2015 the company's most advanced drug candidate was intepirdine, a potential add-on treatment to donepezil for patients with Alzheimer's disease and patients with dementia with Lewy bodies.[4][2][7] Axovant acquired this molecule from GlaxoSmithKline in December 2014.[8] In July 2017, Axovant announced that the results of a phase III trial indicated that the drug was not effective for treatment of Alzheimer's disease.[9][10][11] It also entered clinical trials for dementia with Lewy bodies,[12] which were unsuccessful as well.[13] Consequently, Axovant announced in 2018 that it has discontinued development of this drug.[13]

As of 2016 Axovant was also developing a second compound, nelotanserin. Axovant acquired global rights to nelotanserin from its former parent, Roivant, which had previously bought those rights from Arena Pharmaceuticals.[7] As of 2016 Axovant was developing it as a treatment for Lewy body dementia[14]

In 2016 Axovant partnered with NFL broadcaster Solomon Wilcots to raise awareness of Alzheimer's clinical trials[15][16] That year it also sponsored performances in several U.S cities of “Forget Me Not,” a play by Garrett Davis about an African American family coping with Alzheimer’s disease,[15] in order to raise awareness of its clinical trials in that community, because African Americans are twice as likely to develop Alzheimer’s disease as white Americans, but have been historically underrepresented in clinical research studies.[17]

Also in 2016, Axovant partnered with the mobile rideshare service Lyft to transport patients in Alzheimer's disease studies to clinical facilities.[18]

In 2017, David Hung joined the company as CEO.[19]

In 2018, David Hung resigned and Pavan Cheruvu became the new CEO.[20]

References

  1. ↑ "10-K For the fiscal year ended March 31, 2017". Axovant via SEC Edgar. June 20, 2017. https://www.sec.gov/Archives/edgar/data/1636050/000163605017000029/axovant3311710k.htm#s7DE603A3A0B05F46B7BB1B65DE5F7F29. 
  2. ↑ 2.0 2.1 Karerat, Raif (12 Jun 2015). "Axovant Sciences founded by Indian American Vivek Ramaswamy has biggest US biotech IPO". The American Bazaar (Germantown, Maryland: Global Media Holding). http://www.americanbazaaronline.com/2015/06/12/axovant-sciences-founded-by-indian-american-vivek-ramaswamy-has-biggest-us-biotech-ipo/. 
  3. ↑ "10-K For the fiscal year ended March 31, 2016". Axovant via SEC Edgar. June 6, 2016. https://www.sec.gov/Archives/edgar/data/1636050/000163605016000042/a3311610k.htm. 
  4. ↑ 4.0 4.1 Staff (12 Jun 2015). "Axovant doubles in value after $315M IPO". Pharmaceutical Processing. Associated Press. http://www.pharmpro.com/news/2015/06/axovant-doubles-value-after-315m-ipo. 
  5. ↑ Carroll, John (June 11, 2015). "Why Axovant's $315M IPO bonanza should scare the hell out of you |" (in en). FierceBiotech. http://www.fiercebiotech.com/biotech/why-axovant-s-315m-ipo-bonanza-should-scare-hell-out-of-you. 
  6. ↑ Feuerstein, Adam (8 June 2015). "Inside the Hedge Fund Club Pitching a New Alzheimer's Drug IPO". TheStreet. https://www.thestreet.com/story/13178707/1/inside-the-hedge-fund-club-pitching-a-new-alzheimers-drug-ipo.html. 
  7. ↑ 7.0 7.1 Crow, David (2015-11-02). "Axovant prepares to start pair of dementia drugs trials". Financial Times. ISSN 0307-1766. http://www.ft.com/intl/cms/s/0/4de6f23e-8182-11e5-a01c-8650859a4767.html#axzz3wOrstTWc. 
  8. ↑ Pollack, Andrew (11 Jun 2015). "Shares of Axovant, Alzheimer’s Drug Developer, Surge on Trading Debut". New York Times. https://www.nytimes.com/2015/06/12/business/dealbook/shares-of-axovant-alzheimers-drug-developer-surge-on-trading-debut.html. 
  9. ↑ https://www.statnews.com/2017/09/26/axovant-intepirdine-trial/
  10. ↑ Garde, Damian (26 September 2017). "Another Alzheimer's failure: Axovant's drug flops in late-stage trial". STAT News. https://www.statnews.com/2017/09/26/axovant-intepirdine-trial/. 
  11. ↑ Herper, Matthew (September 26, 2017). "Axovant Alzheimer's Drug Fails To Help Patients" (in en). Forbes. https://www.forbes.com/sites/matthewherper/2017/09/26/axovant-raised-hundreds-of-millions-around-its-alzheimers-drug-it-just-failed/#666afa273f69. 
  12. ↑ Study Evaluating Intepirdine (RVT-101) in Subjects With Dementia With Lewy Bodies: The HEADWAY-DLB Study
  13. ↑ 13.0 13.1 "Axovant slumps as it dumps lead drug intepirdine". Fierce Biotech. Jan 8, 2018. https://www.fiercebiotech.com/biotech/axovant-slumps-as-it-dumps-lead-drug-intepirdine. 
  14. ↑ Grover, Natalie (28 Apr 2016). "Acadia drug approval could clear way for Axovant dementia therapy". https://www.reuters.com/article/us-axovant-sciences-dementia-idUSKCN0XP2IL. 
  15. ↑ 15.0 15.1 Henriques, Carolina (26 January 2016). "‘Huddle Up for Alzheimer’s’ Campaign Encourages Clinical Trial Participation". Alzheimer's News Today. https://alzheimersnewstoday.com/2016/01/26/huddle-alzheimers-campaign-encourages-clinical-trial-participation/. Retrieved 14 November 2016. 
  16. ↑ Leuty, Ron (9 February 2016). "On sports' biggest stage, drug developers tap athletes' connections". San Francisco Business Times. http://www.bizjournals.com/sanfrancisco/blog/biotech/2016/02/super-bowl-50-ken-griffey-bayer-cancer-alzheimers.html. Retrieved 14 November 2016. 
  17. ↑ Kunkle, Frederick (23 November 2014). "Alzheimer’s risk is higher in African Americans, but many fear clinical studies". The Washington Post. https://www.washingtonpost.com/local/alzheimers-risk-is-higher-in-african-americans/2014/11/23/2448474c-6c30-11e4-b053-65cea7903f2e_story.html. Retrieved 14 November 2016. 
  18. ↑ Rockoff, Jonathan (18 July 2016). "Companies Try New Ways to Attract Patients to Drug Trials". The Wall Street Journal. https://www.wsj.com/articles/companies-try-new-ways-to-attract-patients-to-drug-trials-1468858289. Retrieved 14 November 2016. 
  19. ↑ Taylor, Nick Paul (April 10, 2017). "Axovant stock jumps as Medivation founder takes CEO post" (in en). FierceBiotech. http://www.fiercebiotech.com/biotech/axovant-stock-jumps-as-medivation-founder-takes-ceo-post. 
  20. ↑ "Axovant Sciences Announces Changes to Management Team and Board of Directors | Axovant Sciences, Inc." (in en). http://investors.axovant.com/news-releases/news-release-details/axovant-sciences-announces-changes-management-team-and-board. 




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