Ovid Therapeutics Appoints Dr. Amanda Banks, Experienced Biotech Leader & Physician as Chief Development Officer
August 08 2024 - 7:00AM
Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company
dedicated to improving the lives of people affected by rare
epilepsies and brain conditions, today announced the appointment of
Amanda Banks, M.D., as Chief Development Officer. Dr. Banks will
oversee Ovid’s clinical development, medical, and regulatory
affairs functions as well as drive corporate development strategy
and execution in partnership with the Company’s leadership team.
Dr. Banks brings to Ovid broad and deep
experience in neurology, clinical strategy, and business
development. Her strategic acumen will serve Ovid at an important
juncture for the Company as it determines the optimal paths
and partners to unlock the potential therapeutic opportunities
associated with Ovid's programs. Specifically, the unique
mechanisms of action in the Rho associated coiled-coil containing
protein kinase 2 (ROCK2) inhibition and potassium chloride
co-transporter 2 (KCC2) direct activator platforms may have broad
applications in a range of different indications, including
disorders caused by neurovascular dysfunction, neuroinflammation
and hyperexcitability. Some of these opportunities Ovid will pursue
independently, and others through potential partnerships.
“Amanda’s unique combination of intellect,
medical expertise, and business acumen, along with her proven track
record of entrepreneurship makes her an exceptional addition to our
team,” said Jeremy Levin, D. Phil, MB BChir, Chair and Chief
Executive Officer of Ovid Therapeutics. “Her extensive experience
in clinical, medical, and business development within the biotech
industry positions her perfectly to drive our development efforts
at Ovid. We believe she will be instrumental in advancing our
differentiated pipeline.”
“This is a pivotal moment for Ovid, and I am
excited to join this team to help leverage the full potential of
these programs,” said Dr. Banks. “Ovid’s pipeline programs target
unique pathways in the brain that are implicated in a range of
diseases that currently have unmet needs. I look forward to working
with the team to focus our pipeline and accelerate its development
through creative deals. This is a unique opportunity to bring
multiple novel classes of medicines to patients who need better
treatment options,” she added.
Dr. Banks has a strong track record in business
leadership, operational excellence and securing transformational
partnerships to create value from early-stage assets. Dr. Banks has
deep and direct experience across multiple therapeutic areas,
particularly neurology, oncology, metabolic disorders, and
infectious disease. As a clinical strategist and trialist, she has
helped to shape and progress multiple clinical-stage drug
development programs. Prior to joining Ovid, Dr. Banks co-founded
and served as the CEO of Blackfynn, a data platform company focused
on accelerating the development of therapeutics for neurological
diseases. Prior to Blackfynn, Dr. Banks spent over a decade in a
variety of business development roles for early-stage biotech
companies, including at Maxygen and Valentis, where she helped
drive M&A, strategic partnerships with pharmaceutical
companies, and asset acquisitions. Additionally, she has been an
advisor to multiple companies on clinical development, financing,
and corporate strategy. Dr. Banks holds an M.D. from University of
Pittsburgh School of Medicine and a B.S. from Tufts University. She
completed her residency in Internal Medicine at the University of
Pennsylvania where she remained on clinical faculty, as well as
developed novel care delivery pathways in her role at the Penn
Medicine Center for Healthcare Innovation. She continues to take
care of patients as a hospitalist at the Veteran Affairs Medical
Center of Philadelphia.
About Ovid TherapeuticsOvid
Therapeutics Inc. is a New York-based biopharmaceutical company
that is dedicated to meaningfully improving the lives of people
affected by certain epilepsies and brain conditions with seizure
symptoms. The Company is advancing a pipeline of novel, targeted
small molecule candidates that modulate the intrinsic and extrinsic
factors involved in neuronal hyperexcitability causative of
seizures and other neurological symptoms. Ovid is developing:
OV888/GV101 capsule, a potent and highly selective ROCK2 inhibitor
capsule, for the potential treatment of cerebral cavernous
malformations and other rare CNS diseases; OV329, a
GABA-aminotransferase inhibitor, a potential therapy for
treatment-resistant seizures; and OV350, a direct activator of the
KCC2 transporter, for the potential treatment of epilepsies and
other psychiatric conditions. For more information about these and
other Ovid research programs, please visit www.ovidrx.com.
Forward-Looking StatementsThis
press release includes certain disclosures by Ovid that contain
“forward-looking statements,” including, without limitation:
statements regarding Ovid’s potential future business development
opportunities and statements regarding the potential use and
development of OV888/GV101, OV329, and OV350 and compounds from
Ovid’s library of direct activators of KCC2. You can identify
forward-looking statements because they contain words such as
“advances,” “anticipates,” “believes,” “could,” “intends,” “may,”
“potential,” “progress,” and “will” and similar expressions (as
well as other words or expressions referencing future events,
conditions or circumstances). 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,
without limitation, uncertainties inherent in the preclinical and
clinical development and regulatory approval processes, risks
related to Ovid’s ability to achieve its financial objectives, the
risk that Ovid may not be able to realize the intended benefits of
its technology or its business strategy, or risks related to Ovid’s
ability to identify business development targets or strategic
partners, to enter into strategic transactions on favorable terms,
or to consummate and realize the benefits of any business
development transactions. Additional risks that could cause actual
results to differ materially from those in the forward-looking
statements are set forth under the caption “Risk Factors” in Ovid’s
Quarterly Report on Form 10-Q filed with the Securities and
Exchange Commission (“SEC”) on May 14, 2024, and in future filings
Ovid makes with the SEC. Any forward-looking statements contained
in this press release speak only as of the date hereof, and Ovid
assumes no obligation to update any forward-looking statements
contained herein, whether because of any new information, future
events, changed circumstances or otherwise, except as otherwise
required by law.
Contacts
Investors: Garret Bonney IR@ovidrx.com
617-735-6093
OR
Media: Raquel
Caborcabo@ovidrx.com646-647-6553
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