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 Investment in Public Equity
- Private Placement
Questions?
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