Ovid Therapeutics inks licensing deal with AstraZeneca in epilepsies and other neuropathic conditions
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Ovid Therapeutics (NASDAQ:OVID) has entered into an exclusive license agreement with AstraZeneca (NASDAQ:AZN) for a library of early-stage small molecules targeting the KCC2 transporter, including lead candidate, OV350.
The company seeks to optimize and accelerate development of these KCC2 transporter activators in epilepsies and potentially other neuropathic conditions.

Under the terms of the agreement, AstraZeneca will receive an upfront payment of $5M in cash and $7.5M in shares of Ovid common stock, and is eligible to receive potential milestones of up to $203M and tiered royalty payments range from the single digits up to 10% on net sales.
At the time of proof of clinical efficacy, AstraZeneca will have the right of first negotiation to opt in on a strategic collaboration.