March 5, 2021 healthcare
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
− 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
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
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