Ovid Therapeutics raises $75M

What does Ovid Therapeutics do?

Ovid Therapeutics, is a privately held biopharmaceutical company. The company’s purpose is to solve intractable medical problems. This is a pure play neurology company which focuses on rare and orphan diseases of the brain. The company was founded for leveraging recent advances in medicine and science for finding optimal therapies. It seeks to identify and develop late stage, de-risked medicines that have significant potential. They develop these medicines based on the key sights from their scientific founders and confirmed in discussion with the leading experts in the field. The company’s products are protected by strong intellectual property. The company applies the most efficient processes for bringing safe and effective therapies for patients.

How much Ovid Therapeutics was funded?

Ovid Therapeutics raised $75M in Series B funding on August 11, 2015 from Cormorant Asset Management, Fidelity Management and Research Company, DoubleLine Equity Healthcare Fund, Sanofi-Genzyme BioVentures, Redmile Group, Jennison Associates, Tekla Capital Management and Sphera Global Healthcare Fund

Previous funding

• $5.1M in Venture round on March 16, 2015

What is next for Ovid Therapeutics?

Ovid Therapeutics’s new funding round is an important next step towards its goal to build the company into a leading neurology company. The company has rapidly executed on its strategy with the support of its investors, foundations, patients and their families, corporate partners and physicians.

The company plans to use the latest funds raised for advancing its product candidates, including OV101 for Fragile X Syndrome and Angelman Syndrome. Phase 2 clinical testing is expected to commence in both patient groups by the next year. The funds will be used for advancing many other internal compounds into clinical testing and to expand its pipeline further.

More about Ovid Therapeutics

Ovid Therapeutics was founded in 2014 and has its headquarters in New York, NY. Though they are based in New York City they have collaborators and work with patients across USA and the globe.