Axovant Sciences announced the formation of Arvelle Therapeutics and the strategic transition of its legacy small molecule team into the newly-formed company.

Axovant's chief commercial officer Mark Altmeyer will step down from his current role at Axovant to become president and chief executive officer of Arvelle. Greg Weinhoff will remain at Axovant as chief financial officer and transition to the role of chief financial and business officer at Arvelle later in 2019.