Axovant Durham arm may see more work from $842M gene-therapy deal
DURHAM – Swiss-based Axovant Sciences, a Roivant spinout, licensed a gene-therapy deal with Oxford BioMedica worth $842 million Wednesday likely to boost work in Durham, where it conducts a significant amount of research and development. Axovant (Nasdaq:AXON) saw its shares soar 44 percent Wednesday after the deal was announced. The company saw it share price plummet from more than $20 each in late 2017 to just over $1 recently after it reported that its neuro-drug for Alzheimer’s posted negative Phase 3 trial results. Axovant has licensed the exclusive worldwide rights to develop and commercialize the gene-therapy for Parkinson’s Disease, OXB-102,...
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