Axovant Sciences has announced on Monday that a new CEO has been hired and, suprising also its own shareholders, the choice has fallen on David Hung, the founder, CEO and president of Mediation.
As the annoucement was released the shares of dementia treatment researcher company were flying high, up 25%.
Hung sold Medivation, a company focused on cancer drugs, including Xtandi, which treats prostate cancer, to Pfizer for $14.3 billion. Since then the Mediation founder received 20 jon offers, however he has chosen Axovant Sciences, a risky drug developer focused on Alzheimer’s, as he thinks that “Alzheimer’s and dementia are one of the most important unmet needs in all of medicine. Axovant has a promising pipeline of compounds that could make a difference—I believe Axovant has the potential to become one of the premier neurology companies.”
Read further: Forbes