Pick­ing up the pieces left from an Alzheimer’s im­plo­sion, Ax­o­vant is start­ing over by div­ing in­to gene ther­a­py

Af­ter get­ting blast­ed by the fail­ure of its lead drug for Alzheimer’s, Vivek Ra­maswamy’s Ax­o­vant $AX­ON is go­ing to try and blaze a new path for­ward by de­vel­op­ing a gene ther­a­py for Parkin­son’s.

The biotech has un­veiled a deal in which it will hand over $30 mil­lion in cash to Ox­ford Bio­Med­ica for what will now be called AXO-Lenti-PD, a gene ther­a­py de­signed to spur dopamine pro­duc­tion in the brain. And to help fund the next phase, par­ent com­pa­ny Roivant is buy­ing $25 mil­lion worth of shares.

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