Astute young NRI’s remarkable success makes news

INGvivekRAxovant Sciences was founded by 29-year-old NRI Vivek Ramaswamy in Boston last December with an investment of Rs.33 crores. The company primarily develops medicine for Alzheimer’s disease.

Biotech giant Glaxo SmithKline was unable to find the right medicine for the disease after several years of research, and eventually gave up after inventing a drug that treats the early stages of the disease.

Vivek bought the patent of the drug for the equivalent of Rs.33 crores and continued the research that made progress and became a hot topic in the Pharmaceutical industry. This year Axovant Sciences went public and put out America’s biggest Biotech IPO ever. All the company shares were bought for Rs.19,980 crores.

Vivek hails from Tamil Nadu and his family moved to America where his father worked in GE and his mother was a psychiatrist who treated Alzheimer’s patients. Vivek graduated from Harvard University and worked at Hedge Funds as an analyst before he set up Axovant Sciences.