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ARTICLE | Company News

Axovant spins out small molecule team to form CNS-focused newco

February 14, 2019 11:28 PM UTC

Following its pivot to gene therapy, Axovant Sciences Ltd. (NASDAQ:AXON) has spun out its small molecule team into Arvelle Therapeutics GmbH (Basel, Switzerland). The newco has raised more than $100 million and in-licensed exclusive European rights to a late-stage anti-epileptic from SK Biopharmaceuticals Co. Ltd. (Seoul, South Korea).

Arvelle is raising the money in a series A round from a syndicate including NovaQuest, LSP, BRV Capital Management, Andera Partners and H.I.G. BioHealth Partners, and committed $100 million in an upfront payment to SK for cenobamate...