Dementia drug developer Axovant nets $337mm in record-breaking IPO
Axovant Sciences Ltd. (dementia therapeutics) netted $337mm in its initial public offering of 24.2mm shares (including the overallotment) for $15. Affiliates of Visium Asset Management and RA Capital Management agreed to buy 10mm shares. The company had set terms of 17.9mm shares at $13-15. This marks the fourth-largest US biotech IPO ever, coming in behind Genentech ($1.9bn), Catalent Pharma ($952mm), and Talecris (now part of Grifols; $550mm).
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