The outlook for Axovant
Still, the world was optimistic about Axovant. Axovant is a subsidiary of Roivant, a pharmaceutical biotechnology firm. Axovant was testing a new Alzheimer’s drug, inteperdine, that had been previously axed by pharmaceutical giant GlaskoSmithKline (GSK) due to unsuccessful clinical trial results. Axovant made headlines in 2015 when it went public and raised $315 million, at the time the most lucrative biotech IPO ever. Roivant, as a whole, garnered massive funds in August 2017, when it raised $1.1 billion in funds from investors. It’s clear, even just based on the numbers, that the biotech and pharmaceutical worlds both had high hopes for Axovant.