Ovid Therapeutics Announces Strategic Research Collaboration Focused on Accelerating the Development of New Treatments for Rare Neurological Diseases
Ovid Therapeutics has announced a strategic multiyear research collaboration with Columbia University Irving Medical Center to develop genetic-based therapies for rare neurological disorders. The partnership, led by genetics expert Dr. Wendy K. Chung, aims to expand Ovid's drug development portfolio, focusing on conditions such as KIF1A-associated neurological disorder. This collaboration complements Ovid's existing clinical programs and supports their commitment to transforming treatment options for patients with rare neurological diseases.
- Strategic alliance with Columbia University enhances drug development portfolio.
- Collaboration with genetics expert Wendy K. Chung aims to identify new therapeutic targets.
- The collaboration relies on the uncertain outcomes of clinical trials.
- Potential financial risks related to undisclosed funding requirements for new research initiatives.
- Broad multiyear alliance with Columbia University Irving Medical Center researchers to focus on development of potential medicines using genetic based therapies and create a therapeutic platform for a range of rare neurological conditions
- Ovid to collaborate with renowned clinical and molecular geneticist expert, Wendy K. Chung, M.D., Ph.D.
- Collaboration provides Ovid with the opportunity to expand future drug development portfolio
NEW YORK, June 11, 2020 (GLOBE NEWSWIRE) -- 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 Therapeutics
Ovid 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 Relations
irpr@ovidrx.com
Or
Investors:
Steve Klass
Burns McClellan, Inc.
sklass@burnsmc.com
(212) 213-0006
Media:
Katie Engleman
1AB
katie@1abmedia.com
(919) 333-7722
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