Ovid Therapeutics Inc., a New York-based biopharmaceutical company focused on developing therapies for rare and orphan diseases of the brain, completed a $75m Series B financing.
The round was led by Fidelity Management and Research Company with participation from Cowen Private Investments, Sanofi-Genzyme BioVentures, Tekla Capital Management, Sphera Global Healthcare Fund, Jennison Associates (on behalf of certain clients), Redmile Group, and Cormorant Asset Management, additional blue chip mutual funds and life sciences investors as well as existing investors DoubleLine Equity Healthcare Fund, LLC.
Led by Dr. Jeremy Levin, Chief Executive Officer and Chairman, Ovid is developing therapies for patients with rare and orphan diseases of the brain.
The company intends to use the funds to advance its product candidates, including OV101 for Angelman Syndrome and Fragile X Syndrome (Phase 2 clinical testing is expected to commence in both patient groups in 2016), to develop several other internal compounds into clinical testing, and to further expand its pipeline.
FinSMEs
11/08/2015