Takeda (TAK) Enters Pact with Ovid Therapeutics (OVID) for Rights to Develop and Commercialize Soticlestat for Treatment of Children and Adults with Dravet Syndrome and Lennox-Gastaut Syndrome

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Takeda Secures Global Rights from Ovid Therapeutics to Develop and Commercialize Soticlestat for the Treatment of Children and Adults with Dravet Syndrome and Lennox-Gastaut Syndrome

March 3, 2021 7:00 AM EST

Ovid eligible to receive up to $856M in payments, including a $196M upfront payment, regulatory and commercial milestone payments and tiered double-digit royalties on product sales

Potential first-in-class therapy reduced seizure frequency in children with Dravet syndrome and Lennox-Gastaut syndrome in Phase 2 ELEKTRA study

Original 2017 collaboration between Ovid and Takeda to conclude; Ovid will have no further development or milestone obligations

Takeda plans to initiate Phase 3 studies in children and adults with Dravet syndrome and Lennox-Gastaut syndrome in calendar year Q2 2021

Ovid will hold a conference call... More