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Axovant attempts to rise from ashes with $842m Parkinson’s therapy deal

Axovant’s spectacular crash to Earth, after a soaring IPO that saw its share price hit the heady heights of $26, is likely to become a biotech cautionary tale into the future but the next twist in the tale was revealed to be it securing a new lead candidate, this time in Parkinson’s disease.

Its previous lead candidate, which made the company’s name and that of its founder, Vivek Ramaswamy, was a drug for Alzheimer’s that the biotech had picked up from GSK’s offcuts.

It failed, spectacularly, and the biotech’s share price tanked to be worth under $2.

Axovant snatches Teva and Allergan execs to strengthen management

Axovant has announced reinforcements to its management team with two new additions, snatching up Allergan’s current Chief Medical Officer Dr Gavin Corcoran as its new Executive Vice President of R&D, and Dr Michael Hayden, former Chief Scientific Officer and President of Global R&D at Teva, as Chairman of its Scientific Advisory Board.

Axovant’s drug bested by placebo, shares reduced to dust

The signs were already there for Axovant Sciences’ key drug, intepirdine, when it posted poor results from a recent study back in September and the latest findings have confirmed the company’s fears, its product is a non-starter for the treatment of Alzheimer’s disease.

Axovant shares capitulate after Alzheimer’s drug failure

Axovant Sciences was set up with just one drug candidate in its portfolio, and a risky one, at that. The treatment had been bought from GSK for $5 million in 2014, despite failing several trials with the company but the biotech saw enough in the drug to take the gamble.

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