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BASEL, Switzerland, June 6, 2017 /PRNewswire/ -- Axovant Sciences (NYSE: AXON) today announced that it has appointed Patrick Machado to the Company's Board of Directors effective as of June 15, 2017, while Lawrence Olanoff, MD, and Gary Pisano, Ph.D., have stepped down as directors effective as of the June 1, 2017 board meeting.
"I am delighted to welcome Pat to our board," said David Hung, M.D., Chief Executive Officer of Axovant Sciences. "We believe Pat's deep business development experience and his insights will help position Axovant to become the leading company in neurology in the years to come. In addition, I thank Larry and Gary for their significant contributions to the board."
Mr. Machado was a co-founder of Medivation, Inc., and served as its Chief Financial Officer from 2004 to 2014, as well as its Chief Business Officer from 2009 to 2014. He also served as a director of Medivation from April 2014 through September 2016. Mr. Machado currently serves on the boards of directors of several other biopharmaceutical companies, including Roivant Sciences, Ltd., the majority controlling shareholder of Axovant Sciences Ltd.
"I am thrilled to join this group of esteemed directors and help guide Axovant into the future," said Mr. Machado. "I am excited to be part of an organization focused on such important work and I look forward to contributing to the impact that this company could have on millions of patients around the world."
Mr. Machado graduated from Santa Clara University summa cum laude with a Bachelor of Arts degree in German and a Bachelor of Science degree in Economics, and received his Juris Doctorate from Harvard Law School.
About Axovant SciencesAxovant is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative medicines to broadly address multiple forms of dementia and related neurological disorders. Axovant is developing a pipeline of late- and early-stage product candidates that focuses on the cognitive, functional, and behavioral aspects of debilitating conditions such as Alzheimer's disease and Lewy body dementia and other neurological disorders. For more information, visit www.axovant.com.
This press release contains forward-looking statements, including statements regarding Axovant's clinical development and regulatory strategy for intepirdine and nelotanserin. Forward-looking statements can be identified by the words "believe," "anticipate," "continue," "estimate," "project," "expect," "plan," "potential," "intend," "will," "would," "could," "should" or the negative or plural of these words or other similar expressions that are predictions or indicate future events, trends or prospects.
Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: risks associated with the success, cost and timing of our product development activities and clinical trials; the approval and commercialization of intepirdine and nelotanserin; and increased regulatory requirements. These statements are subject to the risk that clinical trial data are subject to differing interpretations, and regulatory agencies, medical and scientific experts and others may not share Axovant's views of the clinical study data. In addition, promising interim results or other preliminary analyses do not in any way ensure that later or final results in a clinical trial or in related or similar clinical trials will replicate those interim results. The product discussed is investigational and not approved and there can be no assurance that the clinical program for intepirdine or nelotanserin will be successful in demonstrating safety and/or efficacy, that we will not encounter problems or delays in clinical development, or that any of our product candidates will ever receive regulatory approval or be successfully commercialized.
For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Axovant's business in general, see the "Risk Factors" section of our quarterly report on Form 10-Q filed with the Securities and Exchange Commission on February 14, 2017, and other filings that Axovant makes with the SEC from time to time. These forward-looking statements are based on information available to Axovant as of the date of this press release and speak only as of the date of this release. Axovant disclaims any obligation to update these forward-looking statements, except as may be required by law.
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