Ovid Therapeutics Announces Strategic Research Collaboration Focused on Accelerating the Development of New Treatments for Ra...
June 11 2020 - 7:00AM
Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical
company committed to developing medicines that transform the lives
of people with rare neurological diseases, today announced a
strategic research collaboration with Columbia University Irving
Medical Center researchers (“Columbia”) to advance genetic based
therapies for a range of rare neurological conditions,
complementary to Ovid’s current pipeline. This collaboration
provides Ovid with the potential to expand its future drug
development portfolio and impact individuals living with rare
genetic neurological conditions.
Under this research and translational development alliance,
Columbia will align its expertise in rare disease genetics and deep
clinical understanding of rare neurological diseases with Ovid’s
discovery, translational, and clinical development expertise in
neurodevelopmental disorders and rare epilepsies. Ovid will work
closely with Wendy K. Chung, M.D., Ph.D., the Chief of Clinical
Genetics, and leader of the Precision Medicine Resource in the
Irving Institute at Columbia University Irving Medical Center. Dr.
Chung is a recognized genetics leader with over 20 years of
experience in human genetic research of monogenic and complex
traits, mapping and cloning genes in humans, and describing the
clinical characteristics and natural history of novel genetic
conditions. A 2019 National Organization for Rare Disorders (NORD)
Rare Impact Award Honoree, Dr. Chung is also a leader and advocate
within the rare disease patient community.
Under the collaboration, Ovid will work together with Columbia
scientists to identify molecular targets for developing
genetic/molecular therapeutic approaches for rare neurological
conditions such as KIF1A-associated neurological disorder (KAND)
and other rare conditions.
“Ovid has made significant progress in all its late stage
clinical programs. We are excited to see multiple read outs of
clinical data throughout the year. It’s time to begin to build our
pipeline for our long-term future in a disciplined and strategic
fashion. This next step is built on, and will complement, the
important programs we already have in place,” said Amit Rakhit,
M.D., MBA, President and Chief Medical Officer of Ovid
Therapeutics. “Joining forces with Columbia and Dr. Chung, a
world-class clinical geneticist, will enable Ovid to begin to build
a robust gene and molecular therapy platform for the future
treatment of inherited neurological conditions.”
“My laboratory is committed to discovering innovative new
targets and therapies to address rare neurological diseases with
few or no treatment options,” said Dr. Chung. “This alliance is
further evidence of Columbia’s unwavering commitment to enabling
groundbreaking research and developing cutting-edge technologies to
treat neurological conditions. We are excited to partner with Ovid
and the patient community to help advance these programs into
clinical trials for development of new potential therapies.”
About Ovid TherapeuticsOvid Therapeutics Inc.
is a New York-based biopharmaceutical company using its
BoldMedicine® approach to develop medicines that transform the
lives of patients with rare neurological disorders. Ovid has a
broad pipeline of potential first-in-class medicines. The Company’s
most advanced investigational medicine, OV101 (gaboxadol), is
currently in clinical development for the treatment of Angelman
syndrome and Fragile X syndrome. Ovid is also developing OV935
(soticlestat) in collaboration with Takeda Pharmaceutical Company
Limited for the potential treatment of rare developmental and
epileptic encephalopathies (DEE). For more information on Ovid,
please visit http://www.ovidrx.com/.
Forward-Looking Statements This press release
includes certain disclosures that contain “forward-looking
statements,” including, without limitation, statements regarding:
advancing and commercializing Ovid’s product candidates, progress,
timing, scope and the development and potential
benefits of Ovid’s product candidates; and the
anticipated reporting schedule of clinical data regarding Ovid’s
product candidates. You can identify forward-looking statements
because they contain words such as
“will,” “appears,” “believes” and “expects.”
Forward-looking statements are based on Ovid’s current expectations
and assumptions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that may differ materially from those
contemplated by the forward-looking statements, which are neither
statements of historical fact nor guarantees or assurances of
future performance. Important factors that could cause actual
results to differ materially from those in the forward-looking
statements include uncertainties in the development and
regulatory approval processes, and the fact that initial
data from clinical trials may not be indicative, and are not
guarantees, of the final results of the clinical trials and are
subject to the risk that one or more of the clinical outcomes may
materially change as patient enrollment continues and/or more
patient data become available. Additional risks that could cause
actual results to differ materially from those in the
forward-looking statements are set forth in Ovid’s filings with
the Securities and Exchange Commission under the caption
“Risk Factors”. Such risks may be amplified by the COVID-19
pandemic and its potential impact on Ovid’s business and
the global economy. Ovid assumes no obligation to update
any forward-looking statements contained herein to reflect any
change in expectations, even as new information becomes
available.
Contacts
Investors and Media:Ovid Therapeutics
Inc.Investor Relations & Public Relationsirpr@ovidrx.com
Or
Investors: Steve KlassBurns McClellan,
Inc.sklass@burnsmc.com (212) 213-0006
Media: Katie Engleman 1AB
katie@1abmedia.com(919) 333-7722
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