Hung Out As Axovant Rebuilds Its Pipeline, Expands Focus Beyond Dementia
CEO Hung resigns after less than a year; he and several others leave behind a dementia-focused specialty pharma that will return to its entrepreneurial roots to build a broader neuroscience pipeline. Parent company Roivant turns to a less conventional choice, Parvan Cheruvu, to take the helm.
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The former Medivation CEO, after a brief detour heading up Axovant, is returning to oncology, but the new company is keeping details about the seven cancer drug programs in its pipeline under wraps.
Respivant will be Roivant's 13th "vant," focused on developing what was Patara Pharma's mast cell stimulator for chronic cough in patients with idiopathic pulmonary fibrosis. Former Patara CEO Bill Gerhart will lead the firm.
Anthera is exploring strategic alternatives after its lead drug candidate Sollpura failed in Phase III, which means layoffs may be coming soon. Several other biopharma companies have had to turn to job cuts already this year.