With “Inflection Year” Ahead, Ovid Adds Novartis’s Tardio to C-Suite
Summary
About five years ago, former Teva Pharmaceutical CEO Jeremy Levin launched Ovid Therapeutics with a plan to develop treatments for rare brain diseases. Now, with the completion of a clinical trial on the horizon anticipated to provide enough data to file for FDA approval, the 55-person biotech has recruited a Novartis (NYSE: NVS) executive to map out its commercialization strategy. Mid next year New York-based Ovid is slated to get data from a Phase 3 trial of its lead drug candidate, gaboxadol (OV101), in children with Angelman syndrome. The company also believes that low levels of GABA contribute to Fragile X syndrome, which causes intellectual disabilities and behavioral and learning challenges, and is testing the drug as a potential treatment for that disorder, too. Ovid shares the rights to soticlestat—which blocks cholesterol 24-hydroxylase, an enzyme primarily expressed in the brain that is thought to play a role in some neurological diseases—with Japanese pharma giant Takeda (NYSE: TAK), but if it’s approved the biotech is slated to lead commercialization in the US and Europe.
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