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Ovid Therapeutics Announces Two Oral Presentations at the 14th Eilat Conference on New Antiepileptic Drugs and Devices (EILAT XIV)

(May 09, 2018)
  • New preclinical data provide further evidence of TAK-935/OV935’s novel mechanism of action, as a potential treatment for rare developmental and epileptic encephaolopathies (dEE)

     
  • First presentation of preclinical data on OV329, a potential new therapeutic approach for treatment-resistant epilepsies

NEW YORK, May 09, 2018 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ:OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, today announced that Matthew During, M.D., DSc., founder, president and chief scientific officer of Ovid Therapeutics, will give two oral presentations at the 14th Eilat Conference on New Antiepileptic Drugs and Devices (EILAT XIV), taking place in Madrid, Spain. The presentations will describe new preclinical findings for TAK-935/OV935, an inhibitor of the enzyme cholesterol 24-hydroxylase (CH24H), in a Phase 1b/2a clinical trial for dEE and OV329, an inactivator of GABA aminotransferase (GABA-AT), in preclinical development.

“This will be the first presentation of data for OV329, a promising preclinical compound with the potential for clinical development in several neurological disorders. Our initial work with OV329 has focused on the treatment of infantile spasms due to its ability to inhibit GABA-AT, a well validated target for resistant epilepsy,” said Dr. During. “We are very excited about the strengths of our epilepsy programs, which also include TAK-935/OV935 in a Phase 1b/2a clinical trial for the treatment of dEE. Epilepsy affects nearly 50 million people worldwide making it a global health problem. People with poorly-controlled seizures are at increased risk of cognitive issues, injuries, premature death, and overall lower quality of life. There is an urgent need to develop new treatments that provide significant clinical benefit.”

Details of the oral presentations below:

Title: TAK-935 (OV935): a first-in-class cholesterol 24-hydroxylase inhibitor

Session: Drugs in Development Session 2Date and Time: Monday, May 14, 2018, 3:50 p.m. CEST

Title: OV329: A new and highly potent inactivator of ?-aminobutyric acid aminotransferase (GABA-AT)


Session: Drugs in Development Session 3
Date and Time: Monday, May 14, 2018, 4:45 p.m. CEST

ABOUT TAK-935/OV935
TAK-935/OV935, which is being co-developed by Ovid Therapeutics and Takeda Pharmaceutical Company Limited, is currently being investigated for the treatment of rare developmental and epileptic encephalopathies in a Phase 1b/2a clinical trial. TAK-935/OV935 is a potent, highly-selective, first-in-class inhibitor of the enzyme cholesterol 24-hydroxylase (CH24H). It is believed that CH24H is involved in over-activation of the glutamatergic pathway, which has been shown to play a role in the initiation and spread of seizure activity. TAK-935/OV935 is the only molecule with this mechanism of action in clinical development. The U.S. Food and Drug Administration has granted orphan drug designation for TAK-935/OV935 for the treatment of Dravet syndrome and Lennox-Gastaut syndrome, both types of developmental and epileptic encephalopathies.

ABOUT OV329
OV329 is a preclinical compound being developed by Ovid Therapeutics for epilepsy and other neurologic disorders, as part of the company’s epilepsy portfolio. OV329 functions by inactivating GABA aminotransferase (GABA-AT), a key metabolic enzyme of the brain’s major inhibitory neurotransmitter, GABA. By inhibiting the metabolism of GABA, OV329 leads to increased intracellular concentrations of GABA. Given that epilepsy is characterized by excessive neuronal excitation, the enhanced release of GABA may suppress this excitatory signaling and may reduce seizures. GABA-AT is a well validated target for treatment-resistant epilepsy and has applications in multiple seizure types such as refractory complex partial seizures and infantile spasms.

About Ovid Therapeutics
Ovid Therapeutics (NASDAQ:OVID) is a New York-based biopharmaceutical company using its BoldMedicine™ approach to develop medicines that transform the lives of people with rare neurological disorders. Ovid has a broad pipeline of first-in-class medicines. The company’s lead investigational medicine, OV101, is currently in development for the treatment of Angelman syndrome and Fragile X syndrome. Ovid is also developing TAK-935/OV935 in collaboration with Takeda Pharmaceutical Company Limited for the treatment of rare developmental and epileptic encephalopathies (dEE).

For more information on Ovid, please visit http://www.ovidrx.com/.

Forward-Looking Statements
This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, statements regarding (i) progress, timing, scope and results of clinical trials for Ovid’s product candidates, and (ii) the potential clinical benefit of TAK-935/OV935 to treat patients with dEE. You can identify forward-looking statements because they contain words such as “will,” “believes” and “expects.” 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 are set forth in Ovid’s filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the period ended March 31, 2018 under the caption “Risk Factors.” Ovid assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available. 

Contacts
Investors:
Ovid Therapeutics, Inc.
Lora Pike
Senior Director, Investor Relations & Public Relations
[email protected]

Media:
W2O Group
Elliot Fox, 212-257-6724
[email protected]  


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