Sio fails to find buyer, ending 'vant journey in liquidation
Sio Gene Therapies said on Thursday that after more than half a year of looking for a buyer, it has failed to find one and will sell off its remaining assets and close down.
The company, formerly known as Axovant, started as one of the darlings of Vivek Ramaswamy’s Roivant empire, raising $315 million in a 2015 IPO, and a market value at one point of around $2 billion. But after the 2018 failure of its lead drug for Alzheimer’s disease, including a botched statistical analysis, it pivoted to Parkinson’s — where it faced manufacturing issues — and eventually to gene therapy.
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