Lundbeck out-licenses gaboxadol to Ovid Therapeutics; CEO named

19 April 2015

Danish CNS specialist Lundbeck (LUN: CO) has entered into an exclusive worldwide license agreement with privately-held US biotech start-up Ovid Therapeutics for gaboxadol.

Lundbeck notes that gaboxadol is the first oral medicine which holds the potential to treat patients with Angelman syndrome and Fragile X syndrome. Gaboxadol (OV101) is the only small molecule, highly selective extrasynaptic GABA(A) receptor agonist (SEGA) that has been tested in clinical trials. Ovid is focused on developing therapies for rare and orphan diseases of the brain.

Under the terms of the accord, Ovid obtained exclusive worldwide development and commercialization rights for OV101. In connection with the license, Lundbeck became a minority shareholder in Ovid, and will receive certain milestone payments and royalties on sales. Ovid is responsible for all future development and commercialization for OV101. Additional financial terms were not disclosed.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK