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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