January 18, 2017
By Alex Keown, BioSpace.com Breaking News Staff
NEW YORK – In something of a turnabout, tiny Ovid Therapeutics will collaborate on the development of an epilepsy drug created by Japanese drug giant Takeda Pharmaceuticals .
The two companies have teamed up to focus on TAK-935, a novel, potent and highly selective CH24H inhibitor for use in rare pediatric epilepsies. Takeda carried TAK-935 through a successful Phase I development. The drug will move into a Phase Ib/IIa study in rare epileptic encephalopathies, including Dravet syndrome, Lennox-Gastaut syndrome and Tuberous Sclerosis Complex, where patients continue to suffer from significant unmet medical needs. Despite the availability of medicines for epilepsy, there are few treatment options for these specific disorders, creating a significant medical need for the development of novel therapies, the companies said this morning.
“Working together with Takeda we believe we can build on the strengths and interests of both companies. This is a creative alliance between a biotechnology and pharmaceutical company where not only do we both share the passion and commitment to develop meaningful medicines that may improve the lives of patients worldwide but also we are able to unlock value in both companies’ pipelines and talent,” Jeremy Levin, chairman and chief executive officer of Ovid Therapeutics, said in a statement.
Emiliangelo Ratti, head of the central nervous system therapeutic area at Takeda Pharmaceuticals, said Ovid’s “focus on developing therapies for rare neurological diseases and specialized capabilities in central nervous system drug development” makes it the perfect company to partner with.
TAK-935 is a potent, highly-selective, first-in-class inhibitor of the enzyme cholesterol 24-hydroxylase (CH24H). CH24H is predominantly expressed in the brain, where it plays a central role in cholesterol homeostasis. TAK-935 has completed four Phase I clinical studies which have assessed tolerability and target engagement at doses which are believed to be therapeutically relevant.
Under terms of the deal, Takeda received equity in privately-held Ovid and may be eligible to receive certain milestone payments based on the advancement of TAK-935, the companies jointly announced this morning. The companies will share in the development and commercialization costs on a 50/50 basis and, if successful, the companies will share in the profits on a 50/50 basis. Full financial details were not disclosed by either company. Ovid will lead clinical development activities and commercialization of TAK-935 in the United States, Europe, Canada and Israel. Takeda will lead commercialization in Japan and has the option to lead in Asia and other selected geographies, the companies said.
Business Insider reported that Ovid and Takeda have been talking about this project for several months. Ovid will open an office in Cambridge, Mass. in order to be close to U.S. Takeda operations, Business Insider said.
