Exhibit 99.1
exhibit991image1.jpg


Axovant Announces Financial Results and Corporate Updates for Fourth Quarter and Fiscal Year Ended March 31, 2019

Established diversified pipeline of three clinical-stage gene therapy programs for serious neurological disorders including Parkinson’s disease, GM1 gangliosidosis, and Tay-Sachs

SUNRISE-PD Phase 2 trial of AXO-Lenti-PD for Parkinson's disease continues to enroll patients in second dose cohort with data expected in the fourth quarter of 2019

Reported initial data from Tay-Sachs patient dosed with AXO-AAV-GM2 in March 2019; additional data from patients dosed with AXO-AAV-GM1 and AXO-AAV-GM2 expected in second half of 2019

Raised $94.5 million in net equity capital from healthcare-dedicated investors in fiscal year ended March 31, 2019

Net loss for the quarter ended March 31, 2019 was $9.0 million, or $0.45 per share, compared to a net loss of $25.3 million, or $1.88 per share, for the prior-year quarter

BASEL, Switzerland, June 11, 2019 (GLOBE NEWSWIRE) - Axovant Gene Therapies Ltd (NASDAQ: AXGT), a clinical-stage company developing innovative gene therapies, today provided financial results and corporate updates for its fiscal year ended March 31, 2019.

“The past year has been transformational as Axovant has been rebuilt around a singular mission of becoming an industry leader in the clinical development of gene therapies for neurological diseases,” said Pavan Cheruvu, Chief Executive Officer of Axovant. “We have assembled a world-class team with decades of experience in gene therapy development and built a diversified pipeline of clinical-stage programs in collaboration with leading gene therapy institutions. Two of these programs, AXO-Lenti-PD and AXO-AAV-GM2, have already generated encouraging data readouts and continue to enroll patients. Additionally, in historic moments for the field of neurological gene therapies, children with GM1 gangliosidosis and Tay-Sachs disease were dosed with gene therapy for the first time at our partner institutions.”

“We expect a data-rich second half of the year with key clinical readouts across all three of our gene therapy programs. Over the last year, we have taken steps to direct our focus and resources towards the clinical programs that will drive long-term value for our shareholders. I’m incredibly proud of the new direction that Axovant is taking, and we look forward to continuing to drive innovative science to transform the lives of patients and their families.”

Key Highlights and Development Updates

Reported six-month data from the first cohort of the dose escalation portion of the SUNRISE-PD study of AXO-Lenti-PD in Parkinson’s disease patients. AXO-Lenti-PD was observed to be generally well tolerated at six months and continued to demonstrate benefits in both patients across multiple measures after a single administration. Enrollment in the second dose cohort has begun, with initial data from up to six patients in this cohort expected in the fourth quarter of 2019.
Reported initial data from the AXO-AAV-GM2 study in March 2019, which suggested that the gene therapy was generally well-tolerated and no serious adverse events in a patient with advanced Tay-Sachs disease. An apparent increase in β-Hexosaminidase A enzyme activity at three months was reported, and the patient’s clinical condition was stable from baseline. Axovant expects to enroll patients in a multi-subject clinical trial in the second half of 2019.
AXO-AAV-GM1 is currently being evaluated for the potential treatment of GM1 gangliosidosis, with the first patient dosed in May 2019 by collaborators at the National Institutes of Health. Axovant expects initial data from this clinical program in the second half of 2019 with continued enrollment of patients throughout 2019.
Terminated the license and collaboration agreement with Benitec Biopharma Limited following the decision to no longer pursue development of AXO-AAV-OPMD and related gene therapy products.
Raised $94.5 million in net equity in fiscal year ended March 31, 2019, including $37.9 million of net equity financing in March 2019 led by existing shareholders and several new healthcare-dedicated investors.
Announced the formation of Arvelle Therapeutics and the strategic transition of the legacy small molecule team with Axovant receiving an approximate 5% preferred equity stake in Arvelle.

1

The following information was filed by Axovant Sciences Ltd. (AXGT) on Tuesday, June 11, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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