• Rebranding to Sio Gene Therapies to reflect an independent company with a scientific strategy focused on disease-modifying and curative genetic medicines
• Company's common stock will trade on the NASDAQ under new ticker "SIOX" effective November 13, 2020

NEW YORK, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Axovant Gene Therapies Ltd. (NASDAQ:AXGT), a clinical-stage gene therapy company developing innovative gene therapies for neurodegenerative diseases, today announced it will change its name to Sio Gene Therapies, Inc., effective November 13, 2020. In connection with the name change, the company's ticker will change to "SIOX" and will be effective at market open on November 13, 2020, along with the company's new corporate website at www.siogtx.com. The former ticker "AXGT" will remain effective through market close on November 12, 2020. SIOX will ring the Nasdaq Closing Bell at 4:00 pm ET on Monday, November 16, 2020.

"Since its inception, Axovant has undergone transformations in its vision, portfolio strategy, ownership, and corporate structure," said Pavan Cheruvu, M.D., Chief Executive Officer at Axovant. "From our management team and Board of Directors to our gene therapy pipeline and R&D capabilities, the Axovant Gene Therapies of today is very different from the small molecule development company it was just a few years ago. As a newly independent company, we are proud to share our identity, Sio Gene Therapies, which reflects our scientific vision to develop disease-modifying and curative genetic medicines. ‘Sio' represents a new beginning for the company, our shareholders, and most importantly, the patients we serve."

Dr. Cheruvu continued, "Our company develops genetic medicines for devastating disorders – ranging from our potentially curative AAV-based pipeline for monogenic pediatric diseases, in which young children can expect to live only a few years, to AXO-Lenti-PD for Parkinson's disease, a condition that affects many millions of patients globally and where gene therapy may have the ability to slow progressive worsening in disability and quality of life. As we write the first chapter of Sio's story, we look forward to sharing additional portfolio updates as we deliver on our goal of liberating patients from debilitating diseases through the transformational power of gene therapy."

In conjunction with the corporate rebrand, the company has established a majority independent Board of Directors and is in the process of its redomiciliation from a Bermuda to a Delaware corporation ("the Redomiciliation").

No action is required by stockholders in connection with the corporate name change and Redomiciliation. The Company's common stock has been assigned a new CUSIP number of 829399 104. The number of outstanding shares of the Company's common stock is also not affected. In connection with the name change and Redomiciliation, the Company expects to make additional ordinary course filings with the U.S. Securities and Exchange Commission in connection with planned effectiveness of its S-4 Registration Statement related to the Redomiciliation and updating of its existing S-3 shelf registration statement (and related ATM program) and S-8 equity plan registration statement to reflect its new corporate name and jurisdiction of incorporation.