ROCK2

Study found OV329 cleared and remained undetectable in the retina, eye, and brain tissues of mice, unlike vigabatrin which has repeatedly shown to preferentially accumulate in mouse retinas, eyes, and other tissues OV329’s potency, mechanism of inhibition, short half-life, rapid tissue elimination and prolonged pharmacodynamic effect suggests it delivers a differentiated ocular safety and efficacy profile from vigabatrin A Phase 1 trial evaluating OV329 in healthy volunteers is on-track for completion in late 2024 and will evaluate safety and two biomarkers for target engagement and evidence of clinical effect NEW YORK, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company dedicated to improving the lives of people affected by rare epilepsies and brain conditions presented the results of a head-to-head animal study evaluating whether OV329 could be found to accumulate in mouse retinas and brains, as has been previously shown to occur with vigabatrin (VGB) the only FDA-approved GABA-aminotransferase (GABA-AT) inhibitor. The findings, which were presented via a poster at the Epilepsy Pipeline Conference, found that OV329 cleared and remained undetectable in the retinas, eyes, and brains of mice after 48 hours of continuous exposure via a sub-cutaneous osmotic pump, suggesting a lack of accumulation. In contrast, ocular accumulation of VGB was confirmed within this period. Full results from the head-to-head animal study will be presented at the 2024 American Epilepsy Society conference in December. These results replicate previously published findings that indicate VGB preferentially and rapidly accumulates within mouse tissue and plasma, including retina, visual cortex, and brain at subtherapeutic doses (70 mg/kg).1,2 In contrast, a therapeutic dose of OV329 in animals (5 mg/kg) did not show signs of ocular accumulation in the same study design. These results complement previously presented studies which showed that therapeutic doses of OV329 (3 mg/kg) did not result in retinal tissue pathology at 45 days in Sprague Dawley rats, an animal model that investigates structural and functional ocular toxicity.3 In contrast, VGB did show retinal cell degradation at the therapeutic dose in animals of 300 mg/kg at 45 days. “Today’s findings suggest a compelling and potentially differentiated profile for OV329. A combination of attributes potentially enables OV329 to deliver an anti-convulsant effect at lower, safer, and non-sedative doses without the same ocular changes seen with vigabatrin,” stated Zhong Zhong, Ph.D. and Chief Scientific Officer of Ovid Therapeutics. “Specifically, OV329’s potency, tissue-clearance, mechanism of inhibition, pharmacokinetic and pharmacodynamic profile suggest it is highly efficient at binding to, and inhibiting the GABA-AT enzyme, and then, rapidly clearing the tissue. We believe this unique combination of drug characteristics may have application in a variety of conditions characterized by hyperexcitation,” he added. STUDY METHODS AND RESULTS At the Epilepsy Pipeline Conference, Ovid presented results from a preclinical head-to-head study intended to evaluate the tissue distribution of OV329 and VGB following continuous infusion via a subcutaneous osmotic pump in mice for two days. This study replicates and builds upon published research examining how VGB preferentially accumulates in the retina, eye, and visual cortex.1,2 The presented study tested OV329 at 5 mg/kg/day, compared to 80 mg/kg/day of VGB. Notably, the dose studied for OV329 led to exposures above those expected to be reached in humans, while VGB was tested at the established therapeutic exposure level in humans. OV329 was not observed to accumulate in the retina, eye, or brain. The concentrations of OV329 in target tissues were below the lower limit of quantification, or undetectable, indicating that OV329 clears and does not accumulate in the retina, eye, or brain. It is thought that OV329’s short-half-life of 1.5 hours, quick tissue elimination properties, and prolonged pharmacodynamic effect may reduce the risk of ocular accumulation to occur. VGB has been shown to accumulate in the eye at sub-therapeutic doses in animals and was associated with ocular toxicity at therapeutic doses in humans. Previous animal studies have demonstrated VGB’s tendency to accumulate preferentially in the retina, eye, visual cortex and brain with significantly higher retina/plasma ratios observed (6.1 ± 0.29).1 VGB also demonstrated a higher preference of the biological active S- (+) enantiomer to accumulate in tissues suggesting the potential for more prominent off target effects.4 OV329 PHASE 1 TRIAL Ovid anticipates the completion of a Phase 1 single ascending dose (SAD) and multiple ascending dose (MAD) study of OV329 in healthy volunteers in late 2024. This safety and tolerability study is additionally applying magnetic resonance spectrometry and transcranial magnetic stimulation, respectively, as biomarkers of target engagement and potential clinical effect. The poster presented at the Epilepsy Pipeline Conference can be found under the Posters and Publications section of Ovid’s website at investors.ovidrx.com ABOUT OV329 OV329 is a next-generation anti-seizure medicine being developed for the potential treatment of rare and treatment-resistant forms of epilepsy and seizures, such as seizures associated with tuberous sclerosis complex, infantile spasms and conditions with focal onset seizures. OV329 inhibits GABA-AT, which is an enzyme in the brain that catabolizes GABA and thereby increases endogenous levels of GABA, the brain’s inhibitory neurotransmitter. By increasing GABA, OV329 is thought to reduce neuronal hyperexcitability and suppress seizures. OV329 was rationally designed to improve upon and potentially supplant VGB, the only FDA-approved GABA-AT inhibitor. VGB is an approved anti-convulsant for the treatment of infantile spasms and refractory complex partial seizures. Use of VGB has been limited by its Black Box warning for permanent bilateral peripheral visual field constriction, a form of irreversible blindness that occurs in some patients taking the drug. Prior studies have shown OV329 to be 200-to-1,000-fold more potent than VGB. OV329 has been shown to possess favorable tissue clearance characteristics, while delivering prolonged PD effect through both phasic (synaptic) and tonic (extrasynaptically) inhibition, thereby strengthening inhibitory neurotransmission in the neuronal milieu. About Ovid Therapeutics Ovid Therapeutics Inc. is a New York-based biopharmaceutical company that is dedicated to improving the lives of people affected by rare epilepsies and brain conditions with seizure symptoms. Ovid is advancing a pipeline of novel, targeted small molecule candidates that modulate the intrinsic and extrinsic factors involved in neuronal hyperexcitability causative of seizures and other neurological symptoms. Ovid is developing: OV888/GV101 capsule, a potent and highly selective rho-associated coiled-coil containing protein kinase 2 (ROCK2) inhibitor, for the potential treatment of cerebral cavernous malformations and other rare central nervous system diseases; OV329, a GABA-AT inhibitor, a potential therapy for treatment-resistant seizures; and OV350, a direct activator of the potassium-chloride co-transporter 2 (KCC2), for the potential treatment of epilepsies and other psychiatric conditions. For more information about these and other Ovid research programs, please visit www.ovidrx.com. Forward Looking Statements This press release includes certain disclosures by Ovid that contain “forward-looking statements” including, without limitation: statements regarding the potentially differentiated ocular safety and efficacy profile of OV329; the expected timing of completion of Ovid’s Phase 1 SAD and MAD trial evaluating OV329 in healthy volunteers; the therapeutic potential of OV329, including potential anti-convulsant effect, tolerability and non-sedative dosing; the potential application of OV329 to a variety of conditions characterized by hyperexcitation; OV329’s potential as a treatment of rare and treatment-resistant epilepsy and seizures; the potential therapeutic opportunity of OV888/GV101 capsule, OV329 and OV350; and other statements that are not historical fact. You can identify forward-looking statements because they contain words such as “anticipates,” “believes,” “expects,” “intends,” “may,” “plan,” “potentially,” and “will,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances). Forward-looking statements are based on Ovid’s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, the risk that results of preclinical studies or earlier clinical trials are not necessarily predictive of future results, our drug candidates may not have favorable results in planned or future preclinical studies or clinical trials, or may not receive regulatory approval. Additional risks that could cause actual results to differ materially from those in the forward-looking statements are set forth under the caption “Risk Factors” in Ovid’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on August 13, 2024, and in future filings Ovid makes with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Ovid assumes no obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as otherwise required by law. Investor Relations:Garret Bonney617-735-6093gbonney@ovidrx.com Media:Raquel Caborcabo@ovidrx.com ________________________1 Walters DC, et al. Preclinical tissue distribution and metabolic correlations of vigabatrin, an antiepileptic drug associated with potential use-limiting visual field defects. Pharmacol Res Perspect. 2019 Jan 72 Colmers PLW, et al. Sustained Inhibition of GABA-AT by OV329 Enhances Neuronal Inhibition and Prevents Development of Benzodiazepine Refractory Seizures. eNeuro. 2024 Jul 3 Bailer, et al. Progress report on new antiepileptic drugs: A summary of the Sixteenth Eilat Conference on New Antiepileptic Drugs and Devices (EILAT XVI): I. Drugs in preclinical and early clinical development. Epilepsia. 2022 Aug.4 Walters DC, et al. Preferential accumulation of the active S-(+) isomer in murine retina highlights novel mechanisms of vigabatrin-associated retinal toxicity. Epilepsy Res. 2021 Feb.

Industry veteran Doug Williams is back with a new approach to CAR-T cell therapies that he expects to take into the clinic in the US by year’s end. After a brief stint at Sana Biotechnology , leaving his R&D chief post in the spring, Williams is returning to the role of CEO at a little-known biotech. In recent weeks, he took the top spot at China-born and now California-headquartered biotech TriArm Therapeutics . It’s a position he held at Codiak BioSciences , a startup that tried turning exosomes into medicines, but the relatively nascent idea couldn’t survive on the public markets in 2023. Now, he’s driving TriArm’s mission to “democratize” CAR-T cell therapies using what it calls a “fast-in-time” (FIT) and non-viral manufacturing process, Williams told Endpoints News . He said TriArm’s technology platform has led to a two-day manufacturing process. “There’s also some potential advantages to cell fitness, the actual fitness of the CAR, the composition of cells that we’re reinfusing back into the patient,” Williams said. “We’re preserving a population of cells using this FIT process that may end up being more fit from a biologic perspective because they’re enriched in STEM and naïve T cells,” he added. TriArm has been relatively quiet since launching in 2019. Its financial backers include Panacea Venture , MSD Capital and Lombard Odier , and it employs about 100 people across Shanghai, Taipei and San Mateo, CA. The company aims to speed up the testing of CAR-T therapies and make faster go/no-go R&D decisions by employing an investigator-initiated model in China and then moving into clinical studies in the US, Williams said. “As somebody that is a drug developer by choice and by training, to be able to get a glimpse of what is arguably real data in a population of patients as sort of a preamble to filing an IND and really moving ahead in larger, much more expensive trials, it’s a fantastic setup to have available,” Williams said. Its first US-based trial, testing a CD19-directed autologous therapy, is slated to start later this year, Williams said. A gene therapy could soon enter a similar patient setting with the emergence this week of a new biotech called Vironexis . — Kyle LaHucik → Biogen ’s board continues to evolve under chair Caroline Dorsa , who replaced Stelios Papadopoulos last year. On Jan. 1, ex- AstraZeneca BioPharmaceuticals R&D chief Mene Pangalos will take a seat on the board, and Lloyd Minor — the dean of Stanford University’s School of Medicine — will become a board member much earlier on Oct. 1. After the hubbub surrounding the departure of board member Alex Denner and the appointment of his romantic partner Susan Langer in June 2023, Biogen then elected ex- 3M president and CFO Monish Patolawala to the board in November. Richard Mulligan and William Jones also left the board last year. Pangalos retired from AstraZeneca in April and was replaced by Sharon Barr . → Vir Biotechnology ’s revamp took the spotlight in early August, as CEO Marianne De Backer made the decision to prop up its hepatitis B and D development and wind down its Covid-19, flu and T cell-based viral vector programs. On Wednesday, Vir said that Jason O’Byrne will succeed Sung Lee as CFO on Oct. 2. O’Byrne had the same title at Caribou Biosciences since February 2021 and is the former SVP of finance at Audentes Therapeutics . He spent 13 years with Genentech in a number of roles, including head of commercial finance for the Asia-Pacific region. To accommodate the makeover, Vir laid off about a quarter of its staff. → BridgeBio Oncology Therapeutics has selected Yong Ben as chief medical and development officer. Readers may know Ben from BeiGene , where he was CMO, solid tumors from 2019-22, and he’s been a venture partner at Eight Roads for the past two years. Ben was the global clinical leader of immuno-oncology clinical development at AstraZeneca when Imfinzi received its first approval for advanced bladder cancer in May 2017, and a week later, he became CMO of BioAtla . BridgeBio’s oncology spinout debuted in May with a $200 million infusion from Cormorant Asset Management , Omega Funds , GV and others. → As Endpoints News reported on Monday, Eli Lilly ended a three-month search by promoting Lucas Montarce to CFO. He replaces current Alphabet finance chief Anat Ashkenazi , with an interim stint by controller Gordon Brooks sandwiched in between. Montarce’s career at Lilly began in 2001 and has held enough positions to scroll through ever since. He was elevated to president and general manager for the Spain, Portugal and Greece hub in February after nearly three years as group VP, corporate controller and chief financial officer for Lilly Research Laboratories . He takes over as CFO at a time when the Indianapolis pharma’s market cap has exceeded $800 billion. → Pfizer CSO Mikael Dolsten has nabbed a spot on the board of directors at Rocket Pharmaceuticals . Dolsten announced in July that he would leave Pfizer after 15 years, but he’s sticking around until the company finds a successor. In late June, questions about manufacturing resulted in a CRL for marnetegragene autotemcel ( marne-cel ), Rocket’s gene therapy to treat an ultra-rare disease called severe leukocyte adhesion deficiency-I. → Meg Alexander has been promoted to president and COO of Ovid Therapeutics , which is on the verge of starting a Phase 2 study of its Graviton -partnered ROCK2 inhibitor in cerebral cavernous malformations. This is Alexander’s third appearance in as many years after she was named chief strategy officer last year and corporate affairs chief in 2022. “Her extensive experience, operational expertise, and business acumen position her well to lead the next phase of the company’s evolution,” Ovid CEO Jeremy Levin said in a statement . → Sana Biotechnology finance chief Nate Hardy will resign “for personal reasons” on Oct. 4, according to an SEC filing . Hardy was on the finance team at Juno Therapeutics with CEO Steve Harr before he took the CFO job at Sana in 2018. The Seattle-based biotech just hired UCB ’s Dhaval Patel as its CSO. → After five years on the job, Forge Biologics CEO Tim Miller is stepping down , making way for commercial chief John Maslowski to take over Oct. 1. Maslowski initially joined Forge as chief commercial officer in June 2021. Before that, he was president and CEO of Castle Creek Biosciences and Fibrocell Science . → Matt Shaulis is headed to BeiGene as general manager of North America on Sept. 25, while Josh Neiman — the chief commercial officer for North America and Europe — has stepped down “to pursue a new entrepreneurial opportunity at a healthcare technology startup,” according to a release . For the last year and a half, Shaulis has been chief commercial officer and US president for Swedish drug developer Hansa Biopharma , and he took on the role of president, inflammation and immunology for the international developed markets at Pfizer from 2018-21. At the end of his seven-year tenure with the pharma giant, he was elevated to SVP for global commercial and medical go-to-market model transformation. → Jeff Hartness has been named chief commercial officer at I&I biotech Apogee Therapeutics , which hit the Nasdaq with Sagimet Biosciences on July 14, 2023. Hartness spent more than 15 years with Sanofi before jumping to Bausch Health in 2016 as VP, strategic account management. Last year, he was promoted to EVP and head of Bausch Health’s market access, commercial operations, policy and government affairs teams, while serving as general manager of the neurology portfolio and generics businesses. Chaired by ex- Prometheus Biosciences chief and current Mirador Therapeutics CEO Mark McKenna , Apogee is trying to distinguish itself in the atopic dermatitis space with its monoclonal antibody APG777 . → The team at non-opioid pain biotech Latigo Biotherapeutics is quickly taking shape under new CEO Nima Farzan , who succeeded Westlake Village BioPartners ’ Desmond Padhi in late July. After bringing in medical chief Neil Singla last month, Latigo has tapped William Blair analyst Tim Lugo as CFO. Lugo joined William Blair as a senior associate in 2005 and would eventually become a partner, leading the biotechnology equity research team. Latigo also added Westlake managing director Beth Seidenberg and Foresite Capital ’s Jim Tananbaum to the board of directors. → Now that Rytelo ( imetelstat ) is being sold in the US for lower-risk myelodysplastic syndromes with transfusion dependent anemia, Geron Corporation has recruited Jim Ziegler as chief commercial officer. Ziegler had been EVP, commercial for Iovance , which secured the long-awaited FDA approval of its TIL therapy Amtagvi for melanoma in February. He also spent a decade in two separate stints with Gilead , culminating in his role as VP of the cardiopulmonary and inflammation business unit. → Alan List is retiring as CMO of Precision BioSciences , and 12-year Merck vet Murray Abramson has jumped on board to lead clinical development. Abramson left Merck in 2011 to become VP of global clinical operations at Biogen, a position he held for nine years. From 2020-22, Abramson was SVP of clinical innovation for Tempus . Precision also said in a release that ex- Aligos Therapeutics EVP John Fry will be a strategic clinical advisor for its hepatitis B program. Following his resignation as president and CEO of Moffitt Cancer Center over his connections to China, List reemerged as Precision’s medical chief in 2021. → Rami Daoud has made his way to gene therapy developer Affinia Therapeutics as chief business and financial officer. Daoud comes off a yearlong stint as president of GeneScience Pharmaceuticals USA and was a corporate development exec with Amarin . Rick Modi ’s crew was an Endpoints 11 winner in 2021 and had IPO aspirations that ultimately faded in late 2022. → HC Bioscience has recruited Simon Tsang to replace Christine Foster as CBO. Tsang is an Amgen corporate development alum who was VP, business development for Tesaro from 2016-19. After GSK bought Tesaro for $5.1 billion, he landed at Pivotal bioVenture Partners as an operating partner. HC Bioscience is in a small-but-emerging group of biotechs working on tRNA-based drugs, along with Flagship ’s Alltrna and Tevard Biosciences . → Rivus Pharmaceuticals , which claimed a Phase 2a win last month with its drug for obesity-related heart failure with preserved ejection fraction, has appointed Tom O’Neil as CFO and ex- ProfoundBio COO/CFO Erin Lavelle to the board of directors. As finance chief, O’Neil helped lead Satsuma Therapeutics to its IPO in 2019 and its sale to Shin Nippon Biomedical Laboratories last year. Lavelle orchestrated ProfoundBio ’s $112 million Series B in February, and Genmab would agree to buy the ADC biotech less than two months later. She also picked up another board seat this week at Aviceda Therapeutics. → We have an impressive lineup of CMO appointments: First, Eli Lilly’s obesity and metabolic disease partner HAYA Therapeutics has named Jordan Shin as CMO. Shin had been SVP of clinical development and translational science (cardiology) for gene therapy player Lexeo Therapeutics , which went public last November with a $100 million IPO. Earlier, he worked for Renovacor as SVP of clinical development and translational science until it was sold to Rocket Pharmaceuticals . Up to $1 billion is on the line with HAYA and Lilly’s recent drug discovery pact . → Canadian psychedelic biotech Reunion Neuroscience has brought in Mark Pollack as medical chief. Pollack briefly worked for Sage as SVP for global medical affairs and was part of a leadership shakeup that also involved the departures of CSO Al Robichaud and development chief Jim Doherty . Reunion went private last summer with the help of MPM BioImpact , and a $103 million Series A followed in May from MPM, Novo Holdings and several other investors. → A week after Reunion’s Series A financing, San Diego upstart Aardvark Therapeutics raised $85 million in a Series C to bankroll late-stage trials for its Prader-Willi syndrome asset ARD-101 . And like Reunion, Aardvark has found a new medical chief. Manasi Sinha Jaiman was promoted to the same position at stem cell therapy maker ViaCyte before it was sold to Vertex in 2022 for $320 million , and she would stay at Vertex as a VP. In the same release, Aardvark included the appointment of regulatory affairs leader Tom Bicsak , who came on board in July. → Milan-based AAVantgarde Bio is picking up Jayashree Sahni as CMO. Sahni is taking over the reins from Naveed Shams , who had served in the role since 2022. Sahni joins the team from Novartis , where she was senior global program clinical lead. Earlier in her career, Sahni was with Roche , where she worked on the Phase 1 and 2 clinical trials for Vabysmo . → Elsewhere, RA Capital -backed Tyra Biosciences has recruited Doug Warner as CMO. Warner joins the California-based crew from eFFECTOR Therapeutics , where he served in the same role. Previously, Warner had an 18-year stint at Amgen, where he led development of drugs like Vectibix , Xgeva and Prolia . Warner’s appointment comes after Tyra picked up $200 million in PIPE financing in February to progress its oral FGFR3-selective inhibitor, TYRA-300 . → Longwood ’s Solu Therapeutics , which debuted in August 2023 with a $31 million seed round, has welcomed Sergio Santillana as CMO. Peer Review told you about Santillana’s resignation from the same position at Ikena Oncology in February, and he’s also the ex-CMO at Merrimack Pharmaceuticals and Ariad Pharmaceuticals . Earlier in his career, Santillana had a string of roles at Eli Lilly, GSK and Takeda . → Maud Brandely is retiring after eight years as CMO of French cancer biotech Transgene , and Sanofi Genzyme vet Emmanuelle Dochy has replaced her . Dochy just completed a seven-year run at Bayer , where she recently served as VP of global medical affairs for the tyrosine kinase inhibitor (TKI) oncology franchise and scientific partnerships head. Meanwhile, Transgene has also enlisted Roche oncology alum Maurizio Ceppi as CSO. → KalVista Pharmaceuticals has named Brian Piekos as CFO. Far from his first run as finance chief, Piekos served in the role at Elicio Therapeutics , Gemini Therapeutics and AMAG Pharmaceuticals . In May, KalVista announced that it was dropping its preclinical program in hereditary angioedema in favor of focusing on its HAE pill sebetralstat . At the time, KalVista said it would find a partner for its dropped program. → Beverley Carr has taken the CBO post at London-based Charm Therapeutics , a startup co-founded by the University of Washington’s David Baker that uses its 3D deep learning tech DragonFold to discover new drugs. Carr is a GSK business development vet who had been chief business and operating officer for Amphista Therapeutics and then stepped into the role of interim CEO when Nicki Thompson left. → In July, Cue Biopharma announced that it was prioritizing its autoimmune pipeline and slashing 25% of its staff. Now, J&J vet Lucinda Warren has joined the Boston team as CBO. Warren’s 10-year stint at J&J culminated in her role as VP of business development for neuroscience and Japan regionally. Earlier in her career, Warren was with Janssen Cilag Australia and Centocor / Janssen Biologics . → Verily , the healthcare company spun out of Google parent Alphabet , has rolled out the welcome mat for Michael Radwin as its new head of data science and AI. Radwin joins from the CDC, where he was a founding member of the Office of Public Health Data, Surveillance, and Technology. Radwin’s résumé also includes roles at Intuit and Yahoo . Earlier in June, Verily announced that it was jumping into the GLP-1 business with the launch of a new virtual program to help patients manage cardiometabolic diseases with care teams and medications. → Dutch biotech VarmX , which is developing a reversal agent for blood thinners, has promoted Martijn Negen to the role of COO. Negen joined VarmX last September as SVP of global commercial strategy & business development from AM-Pharma . He also has experience from Portola Pharmaceuticals , Teva Global Specialty Medicines and Genentech. → Opthea has announced a slew of changes to its leadership team. First, the company is losing commercial chief Judy Robertson , CFO Peter Lang and SVP, global clinical operations Bruno Gagnon , effective Sept. 9. Filling in for Lang and Robertson in the interim will be Danforth Advisors managing director Daniel Geffken and Genentech and Novartis vet Mike Campbell , respectively. Meanwhile, Jen Watts will succeed Gagnon. That’s not all: Opthea is also picking up Dayong Li as SVP, biometrics and Anthony Bonifazio as VP, market access. → UK respiratory disease biotech Enterprise Therapeutics has introduced Annabella Amatulli as head of regulatory affairs. The Janssen vet was the global regulatory sciences leader for Alfasigma , the Italian company that bought Ocaliva maker Intercept Pharmaceuticals . → Tonix Pharmaceuticals has brought aboard Thomas Englese as EVP of commercial operations. Englese was formerly chief commercial officer of Tris Pharmaceuticals and Aziyo Biologics . Before that, he had an 11-year run with Mallinckrodt , culminating in his role as SVP and general manager of North America hospital therapies. → A handful of VCs have been making some moves. First up: Abingworth has turned to SFJ Pharmaceuticals founder and executive chair Robert DeBenedetto to tackle the role of managing director, clinical co-development; Sofinnova Partners has added a new partner. Karl Naegler just completed a four-year run as managing partner with Wellington Partners Life Sciences in June; and finally, Frazier Healthcare Partners has named Willis Chandler as an executive-in-residence on the growth buyout team. Chandler left Cencora (formerly AmerisourceBergen ) in June after nearly three years as president of global pharma services and six years overall. → Co-founded by Jim Wilson , Passage Bio has elected Ultragenyx CBO Tom Kassberg to the board of directors. One of Wilson’s new companies, GEMMA Biotherapeutics , licensed a trio of gene therapy candidates from Passage Bio in early August. → Enoch Kariuki has joined the board of directors at Cyrus Mozayeni ’s ADC shop Pheon Therapeutics , which is chaired by ex- Blueprint Medicines chief Jeff Albers . Kariuki became president of Endeavor BioMedicines this year and ran Lengo Therapeutics until it was purchased by Blueprint in 2021. → Yoshiharu Mizui now has a seat on the board of directors at SEED Therapeutics , the biotech near Philadelphia that struck a “molecular glue” deal with Eisai last month. Mizui is the president of Eisai’s VC arm, Eisai Innovation , and he also juggles two other roles as head of collaboration & incubation in the DHBL (Deep Human Biology Learning) office and head of academic & industry alliance. → Creyon Bio has made room for DCVC Bio operating partner Serge Messerlian and Lux Capital principal Shaq Vayda on the board of directors. Messerlian has board seats at Auron Therapeutics and Plexium , and Vayda’s numerous board credits include Atavistik Bio and Enveda Biosciences .

NEW YORK, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company dedicated to improving the lives of people affected by rare epilepsies and brain conditions, today announced the promotion of Meg Alexander to President and Chief Operating Officer (COO). Alexander will work in collaboration with Ovid’s leadership team to advance Ovid’s development pipeline of potential disease-halting neurotherapeutics and define and execute its go-forward strategy. “Ovid’s programs are advancing rapidly, and we are taking the critical steps needed for sustainable growth. Meg has proven to be a strong leader, driving change and delivering value across multiple biopharmaceutical companies. Her extensive experience, operational expertise, and business acumen position her well to lead the next phase of the company’s evolution,” said Jeremy Levin, D. Phil, MB BChir, Chair and Chief Executive Officer of Ovid Therapeutics. “The Board and I are confident that she will successfully guide and collaborate with our leadership team to realize the full potential of our company.” Alexander will oversee all operations, research and development, program management, investor relations, commercial strategy, human resources and corporate affairs, and will report to Dr. Levin. Finance, legal and business development will continue to be overseen by Jeff Rona, Ovid’s Chief Business and Financial Officer. “I am excited to work with our team to unlock and expand the substantial therapeutic potential within our pipeline, including novel ROCK2 inhibitors, KCC2 direct activators, and a GABA-aminotransferase inhibitor,” said Alexander. “It is a privilege to collaborate with such a talented team of industry veterans and experts at Ovid. Together, we have the scientific, development, and deal-making expertise to create value and make a meaningful difference for people living with intractable brain disorders.” Alexander joined Ovid in 2020 and previously served as Chief Strategy Officer and Chief Corporate Affairs Officer. In her tenure at Ovid, she has supported the rebuilding of the Company’s pipeline to focus on epilepsies and rare neurological conditions, led operational execution, and strengthened relationships with key stakeholders. Prior to Ovid, Alexander had a two-decade long career creating strategies to build corporate value, launch medicines, and mitigate risk for biopharmaceutical and Fortune 500 companies. She has guided the launch of more than 25 medicines and shaped major initiatives for leading multinational companies, including Pfizer, Novartis, Amgen, Janssen, Boehringer Ingelheim, Alnylam, BioMarin, Nestle, Coca-Cola and many others. A proven entrepreneur, Alexander founded, and scaled the highly successful Reputation and Risk Management business at Syneos Health, one of the world’s largest clinical and commercial resource organizations. About Ovid TherapeuticsOvid Therapeutics Inc. is a New York-based biopharmaceutical company that is dedicated to meaningfully improving the lives of people affected by certain epilepsies and brain conditions with seizure symptoms. The Company is advancing a pipeline of novel, targeted small molecule candidates that modulate the intrinsic and extrinsic factors involved in neuronal hyperexcitability causative of seizures and other neurological symptoms. Ovid is developing: OV888/GV101 capsule, a potent and highly selective ROCK2 inhibitor capsule, for the potential treatment of cerebral cavernous malformations and other rare CNS diseases; OV329, a GABA-aminotransferase inhibitor, a potential therapy for treatment-resistant seizures; and OV350, a direct activator of the KCC2 transporter, for the potential treatment of epilepsies and other psychiatric conditions. For more information about these and other Ovid research programs, please visit www.ovidrx.com. Forward-Looking StatementsThis press release includes certain disclosures by Ovid that contain “forward-looking statements,” including, without limitation: statements regarding Ovid’s potential future business development opportunities and statements regarding the potential use and development of OV888/GV101, OV329, and OV350 and compounds from Ovid’s library of direct activators of KCC2. You can identify forward-looking statements because they contain words such as “advances,” “anticipates,” “believes,” “could,” “intends,” “may,” “potential,” “progress,” and “will” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances). Forward-looking statements are based on Ovid’s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, uncertainties inherent in the preclinical and clinical development and regulatory approval processes, risks related to Ovid’s ability to achieve its financial objectives, the risk that Ovid may not be able to realize the intended benefits of its technology or its business strategy, or risks related to Ovid’s ability to identify business development targets or strategic partners, to enter into strategic transactions on favorable terms, or to consummate and realize the benefits of any business development transactions. Additional risks that could cause actual results to differ materially from those in the forward-looking statements are set forth under the caption “Risk Factors” in Ovid’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on May 14, 2024, and in future filings Ovid makes with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Ovid assumes no obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as otherwise required by law. Contacts Investors: Garret Bonney IR@ovidrx.com 617-735-6093 OR Media: Raquel Caborcabo@ovidrx.com646-647-6553