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Hung Out As Axovant Rebuilds Its Pipeline, Expands Focus Beyond Dementia

 
• By Mandy Jackson

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.

Business decline

David Hung took the helm at Axovant Sciences Ltd. with a lot of fanfare in 2017 following the sale of Medivation Inc. to Pfizer Inc. for $14bn in the prior year, but in 2018 the CEO isn't hanging around to see if Axovant can rebound and rebuild after the devastating failure of intepirdine in Alzheimer's disease.

The company announced on Feb. 12 that Hung is resigning to pursue other opportunities as is President and Chief Operating Officer Marion McCourt

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