Ovid Therapeutics has found a potential buyer for its onetime lead program. A little more than one year after gaboxadol’s value-crushing phase 3 flop, Healx has stepped in to see whether it can write another chapter in the long, failure-strewn history of the neurological disease drug.
Ovid Therapeutics has revealed disappointing results for its therapy OV101 (gaboxadol) in the treatment of Angelman syndrome, admitting that it failed its main goal.
NEW YORK, Nov. 23, 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 that abstracts from the TAK-935/OV935 (soticlestat) clinical development program in Dravet syndrome or Lennox-Gastaut syndrome (Phase 2 ELEKTRA study) and the OV101 (gaboxadol) clinical development program in Angelman syndrome (Phase 2 STARS study), will be presented at the American Epilepsy Society (AES) 2020 Virtual Congress, taking place December 4-8, 2020.
Ovid Therapeutics has offloaded the European rights to OV101 in a genetic nervous system disorder to Angelini Pharma. Italy’s Angelini Pharma is paying $20 million upfront to secure a license to a drug that is due to come through a phase 3 trial in Angelman syndrome by the end of the year.
Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, today announced positive topline results from the signal-finding Phase 2 ROCKET trial of OV101 (gaboxadol), a novel delta (?)-selective GABAA receptor agonist, in males with Fragile X syndrome. Fragile X syndrome is the most common inherited form of intellectual disability and autism, with no approved therapies. In addition, Ovid today provided preliminary findings from SKYROCKET, a non-drug interventional study in Fragile X syndrome.