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Axovant raises $25mm in PIPE to support licensing of OXB102 from Oxford BioMedica

Executive Summary

Axovant Sciences Ltd. grossed $25mm through the private sale of 14.3mm common shares at $1.75 (a 17% premium) to parent Roivant Sciences. The company will use the proceeds to support development of OXB102, which Axovant in-licensed from Oxford BioMedica in a concurrent agreement worth up to $842.5mm. The preclinical gene therapy candidate, which Axovant renamed AXO-Lenti-PD, is an in vivo lentiviral vector designed to increase dopamine production and reduce motor fluctuations in Parkinson’s disease patients.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement
    • Private Investment in Public Equity

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