Issue Date: January 23, 2017
Biotech firm Ovid develops Takeda drug
In a reverse of the usual big pharma-biotech relationship, the New York City-based biotech firm Ovid Therapeutics will help develop a Takeda Pharmaceutical drug for rare pediatric epilepsy. The drug, a small molecule called TAK-935, inhibits the enzyme cholesterol 24-hydroxylase, which may have a role in central nervous system diseases such as epilepsy. In the deal, Takeda received equity in Ovid, which specializes in rare neurological diseases. The two firms will share any profits on a 50-50 basis.
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