Axovant Sciences Ltd.(AXON): QVT Financial Acquires Dispositive Power Over 75 Million Shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Axovant
Sciences, Ltd.

(Name of Issuer)

Common Shares, $0.00001 par value

(Title of Class of Securities)

G0750W104

(CUSIP Number)

Eleazer Klein, Esq.

Schulte Roth & Zabel LLP

919 Third Avenue, New York, NY 10022

(212) 756-2000

(Name,
Address and Telephone Number of Person Authorized to Receive Notices and Communications)

July 8, 2016

(Date of Event which Requires Filing of this Statement)

If the filing person has
previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-l(e),
240.13d-l(f) or 240.13d-1(g), check the following box.  ¨

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

The information required on the remainder of this cover page shall not be
deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).

CUSIP No. G0750W104

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CUSIP No. G0750W104

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CUSIP No. G0750W104

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CUSIP No. G0750W104

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The class of equity securities to which this statement relates is
the common shares, $0.00001 par value (the Common Shares), of Axovant Sciences Ltd., a Bermuda company (the Issuer). The address of the principal executive offices of the Issuer is Clarendon House, 2 Church Street, Hamilton
HM11, Bermuda.

(a)-(c) This Schedule 13D is filed by QVT Financial LP, a
Delaware limited partnership (QVT Financial), QVT Financial GP LLC, a Delaware limited liability company, QVT Fund V LP (the Fund), a Cayman Islands limited partnership, and QVT Associates GP LLC, a Delaware limited liability
company (collectively, the Reporting Persons).

The principal executive offices of QVT Financial, QVT Financial GP LLC and QVT
Associates GP LLC are located at 1177 Avenue of the Americas, 9th Floor, New York, New York 10036. The registered office of the Fund is 190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands. QVT Financial GP LLC is the general partner
of QVT Financial, and as such may be deemed to beneficially own the Common Shares reported as beneficially owned by QVT Financial. QVT Financials principal business is investment management, and it acts as the investment manager for the Fund,
and as such may be deemed to beneficially own the Common Shares reported as beneficially owned by the Fund. QVT Financial has the power to direct the vote and disposition of securities held by the Fund. QVT Associates GP LLC, as general partner of
the Fund, may also be deemed to beneficially own the Common Shares reported as beneficially owned by the Fund.

Daniel Gold, Nicholas
Brumm, Arthur Chu and Tracy Fu are the managing members of QVT Financial GP LLC and QVT Associates GP LLC. Messrs. Gold, Brumm, Chu and Fu are referred to collectively herein as the Covered Persons. The business addresses and principal
occupations of each of the Covered Persons are set forth in Appendix A attached hereto, which is incorporated herein by reference. The business address of each Covered Person is also the address of the principal employer of such Covered Person.

(d) During the last five years, none of the Reporting Persons nor any of the Covered Persons has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors, if any).

(e) During the last five years, none of the Reporting Persons nor any of
the Covered Persons was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)
See Item 2(a)-(c) above for citizenship of each of the Reporting Persons. Each of the Covered Persons is a citizen of the United States of America.

The information set forth or incorporated in Items 4 and 5 is hereby incorporated herein by reference.

The Issuer, prior to its initial
public offering on June 11, 2015, was a wholly-owned subsidiary of Roivant Sciences Ltd. (Roivant). Roivant directly holds the 75,000,000 Common Shares reported herein as beneficially owned by the Reporting Persons.

Roivant directly owns the Common Shares that are the subject of
this Schedule 13D. As shareholders of Roivant, the Reporting Persons are filing this Schedule 13D because they may be deemed to have dispositive power and, therefore, beneficial ownership, over the Common Shares directly held by Roivant by virtue of
governance arrangements in Roivants bye-laws.

Effective July 8, 2016, Dr. Andrew Lo was appointed to the board of
directors of Roivant (the Roivant Board). Dr. Lo is an independent director within the meaning of that term under Roivants bye-laws. As of the appointment of the independent director, an affiliate of the Fund,
voting unanimously with two other major shareholders of Roivant, has the right to override certain decisions of the Roivant Board under Roivants bye-laws, including with respect to dispositions of Common Shares (the Override
Right). The Reporting Persons are filing this Schedule 13D because they may be accordingly deemed to have dispositive power and, therefore, beneficial ownership, over the Common Shares owned directly by Roivant due to the Override
Right. The filing of this statement should not be deemed an admission that the Reporting Persons are, for the purposes of Section 13 of the Securities Exchange Act of 1934, as amended (the Exchange Act), the beneficial owners of any
securities covered by this statement.

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The Reporting Persons expect to review on a continuing basis Roivants investment in the
Common Shares and the Issuers business, affairs, operations, financial position, capital needs, governance, management, strategy and future plans. As part of their review, they may from time to time engage in discussions or otherwise
communicate about such matters with others, including, without limitation, members of the board of directors of the Issuer (the Board), management or representatives of the Issuer, other shareholders of the Issuer and other relevant
parties. Based on such review and any such communications, as well as general economic, market and industry conditions and prospects existing at the time, the Reporting Persons may, subject to any then existing legal or contractual limitations:
(a) purchase additional Common Shares, warrants, options or related derivatives in the open market, in privately negotiated transactions or otherwise; (b) sell or direct the sale of all or a portion of the Common Shares, warrants, options
or related derivatives now beneficially owned or hereafter acquired by them; (c) enter into and/or dispose of certain derivative transactions with one or more counterparties and/or (d) to the extent permitted by applicable laws, borrow
securities, including the Common Shares, for the purpose of effecting, and effect, short sale transactions, and purchase securities for the purpose of closing out short positions in such securities. In addition, the Reporting Persons may evaluate,
discuss and/or take action with respect to plans or proposals that could relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) an
extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer, or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) any
change in the present Board or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board; (e) any material change in the present capitalization or
dividend policy of the Issuer; (f) any other material change in the Issuers business or corporate structure; (g) changes in the Issuers charter, by-laws or instruments corresponding thereto or other actions which may impede the
acquisition of control of the Issuer by any person; (h) causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered
national securities association; (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Exchange Act; or (j) any action similar to any of those enumerated
above.

Each of the Reporting Persons may, at any time, review or reconsider its position with respect to the Issuer and formulate plans
or proposals with respect to any of such matters, but has no present intention of doing so. None of the Reporting Persons is obligated to take or refrain from taking any action with respect to any plans or proposals that the Reporting Persons may
evaluate, discuss or determine to pursue. Accordingly, the Reporting Persons reserve the right to revise their plans or intentions at any time and to take any and all action that they may deem appropriate to maximize the value of Roivants
investment in the Issuer in light of the Reporting Persons general investment policies, market conditions, subsequent developments regarding or affecting the Issuer and the general business and future prospects of the Issuer.

(a) and (b) The information contained on the
cover pages to this Schedule 13D and the information set forth or incorporated in Items 2, 3, 4 and 6 is incorporated herein by reference.

All percentages referred to on the cover pages are determined using a denominator of 99,150,000 Common Shares issued and outstanding as of
June 3, 2016, as reported by the Issuer in its Annual Report on Form 10-K for the fiscal year ended March 31, 2016, as filed with the Securities and Exchange Commission on June 6, 2016.

QVT Financial is the investment manager for the Fund. QVT Financial has the power to direct the vote and disposition of the investments held
by the Fund. Accordingly, QVT Financial may be deemed to be the beneficial owner of an aggregate amount of 75,000,000 Common Shares, consisting of the Common Shares owned directly by Roivant.

QVT Financial GP LLC, as general partner of QVT Financial, may be deemed to beneficially own the same number of Common Shares reported by QVT
Financial. QVT Associates GP LLC, as general partner of the Fund, may be deemed to beneficially own the aggregate number of Common Shares owned by the Fund, and accordingly, QVT Associates GP LLC may be deemed to be the beneficial owner of an
aggregate amount of 75,000,000 Common Shares.

Except as disclosed in this 13D, none of the Reporting Persons beneficially owns or has the
right to acquire any Common Shares, and none of the Reporting Persons presently has the power to vote or to direct the vote or to dispose or direct the disposition of any of the Common Shares that such Reporting Persons may be deemed to beneficially
own.

Each of the Covered Persons and Reporting Persons disclaims beneficial ownership of the Common Shares owned by Roivant.

(c) The reported share amounts for the Reporting Persons reflect amounts as of the date hereof. Other than as disclosed herein, the Reporting
Persons have not effected any transactions in the Common Shares during the past 60 days.

(d) To the best knowledge of the Reporting
Persons, no person other than Roivant has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Shares beneficially owned by the Reporting Persons.

(e) Not applicable.

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Except as otherwise disclosed herein and the Joint Filing Agreement attached as Exhibit 1 hereto, there are no contracts, arrangements,
understandings or relationships among the Reporting Persons and any other person with respect to any securities of the Issuer.

Exhibit 1 – Agreement regarding Joint Filing of Schedule 13D

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SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true,
complete and correct.

Dated: July 13, 2016

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