Brief: Ovid Therapeutics Expands Epilepsy Franchise With Novel KCC2 Activators

Ovid Therapeutics

03/01/2022 11:32

Jan 3 (Reuters) - Ovid Therapeutics Inc  OVID.O :
    * OVID THERAPEUTICS EXPANDS EPILEPSY FRANCHISE WITH NOVEL
KCC2
ACTIVATORS
    * OVID THERAPEUTICS INC - EXCLUSIVE LICENSE AGREEMENT WITH
ASTRAZENECA FOR A LIBRARY OF EARLY-STAGE SMALL MOLECULES
TARGETING KCC2 TRANSPORTER
    * OVID THERAPEUTICS - ASTRAZENECA ELIGIBLE TO RECEIVE
POTENTIAL
CLINICAL DEVELOPMENT MILESTONES OF UP TO $8 MILLION & REGULATORY
MILESTONES OF UP TO $45 MILLION
    * OVID THERAPEUTICS INC - UNDER AGREEMENT, ASTRAZENECA TO
RECEIVE
AN UPFRONT PAYMENT OF $5 MILLION IN CASH AND $7.5 MILLION IN
SHARES OF OVID COMMON STOCK
    * OVID THERAPEUTICS - TOTAL COMMERCIAL MILESTONES COULD
REACH $150
MILLION & TIERED ROYALTY PAYMENTS RANGE FROM SINGLE DIGITS UP TO
10 PERCENT ON NET SALES
    * OVID THERAPEUTICS INC - AT TIME OF PROOF OF CLINICAL
EFFICACY,
ASTRAZENECA WILL HAVE RIGHT OF FIRST NEGOTIATION TO OPT IN ON A
STRATEGIC COLLABORATION

Source text for Eikon:  ID:nGNXG49qG 
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