An unusual deal between Takeda Pharmaceutical Co. Ltd. and Ovid Therapeutics Inc. represents both a continuation of the biotech CEO’s long-time approach to portfolio building, and a new way of thinking about external innovation at the Japanese pharma.
The deal will see the partners co-develop Takeda’s TAK-935 globally for rare epileptic encephalopathies under a 50/50 cost- and profit-sharing arrangement, with Ovid taking the lead on clinical development.
Initial indications include Dravet syndrome, Lennox-Gastaut syndrome and tuberous sclerosis complex.
Rare CNS disease company Ovid was seeking assets that would build on the lessons learned in its first two years of collaborating with patients and caregivers to design and run clinical trials of lead compound gaboxadol (OV101) in Angelman syndrome.
OV101, licensed from H. Lundbeck