Ovid Therapeutics and AstraZeneca Partner to Develop Novel KCC2-Targeted Therapies for Epilepsy and Neurological Disorders

On January 3, 2022, Ovid Therapeutics announced an exclusive licensing agreement with AstraZeneca to acquire AstraZeneca's early-stage small molecule library targeting the KCC2 transporter (including the lead candidate drug OV350). Ovid Therapeutics aims to optimize these KCC2 transporter activators and accelerate their development for epilepsy and other potential neurological disorders.

KCC2 is a potassium-chloride cotransporter responsible for maintaining chloride homeostasis in neurons. The KCC2 transporter is crucial for seizure control. OV350 is a small molecule that directly targets and activates the KCC2 transporter, showing encouraging in vitro and in vivo proof-of-concept in drug-resistant epilepsy. By improving chloride homeostasis, OV350 can suppress neuronal hyperexcitability commonly associated with epilepsy. Preclinical studies have demonstrated that OV350 is well-tolerated. OV350 has the potential to be developed for the treatment of various types of epilepsy and other central nervous system indications, including neurodevelopmental and neurodegenerative disorders.

According to the terms of the agreement, AstraZeneca will receive an upfront payment of $5 million and $7.5 million worth of Ovid Therapeutics Inc. stock. It is also eligible for potential clinical development and regulatory milestone payments of up to $53 million. The total amount of commercial milestone payments from the collaboration could reach $150 million, and AstraZeneca is entitled to receive tiered royalties on future net sales of the product. Upon validation of clinical efficacy, AstraZeneca will have the right of first negotiation for a strategic partnership.

References:

[1] Ovid Therapeutics Expands Epilepsy Franchise with Novel KCC2 Activators. Retrieved January 3, 2021, from https://investors.ovidrx.com/news-releases/news-release-details/ovid-therapeutics-expands-epilepsy-franchise-novel-kcc2

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