Ovid Therapeutics focuses on developing therapies for rare and orphan neurological diseases, with lead candidate OV101 targeted at Angelman syndrome and Fragile X syndrome. The company planned Phase 2 clinical testing of OV101 in both patient groups in 2016. Ovid intends to use recent financing to advance OV101 and several other internal compounds into clinical testing and to further expand its pipeline. The company is privately held and emphasizes patient-focused development, corporate partnerships, and business development to build a multi-product neurology company. Management stated the financing will provide significant latitude for business and corporate development initiatives and to accelerate Ovid’s programs. Ovid Therapeutics is a stealth neuroscience company based in New York that the press describes as extremely private and focused on neurology. The company recently filed a regulatory document showing a $5 million raise. Leadership named in coverage includes CEO Matthew During and chairman Jeremy Levin, former Teva CEO, who has said he will disclose more about the company in the coming weeks. Coverage links Ovid to the Foundation for Angelman Syndrome Therapeutics (FAST), an association that dates to 2012, though the article notes biotechs often pivot and does not confirm the company’s indication. The firm is described as backed by significant private equity funds. The article does not disclose product details, financing instrument, operating metrics, or other financial specifics beyond the $5 million filing.

Total raised

$80M

Funding rounds

2

Latest round

Series B

Latest activity

Aug 2015