Promotions at Ovid Therapeutics

USA-based biotech Ovid Therapeutics (Nasdaq: OVID) has made two senior leadership changes to further build the company’s capabilities as it approaches top-line results from the pivotal Phase III NEPTUNE trial for OV101 in Angelman syndrome, expected in mid-2020.

Ovid’s chief medical officer and head of R&D, Dr Amit Rakhit, has been promoted to president, a role in which he will oversee several functions including commercial, research and development, regulatory, and manufacturing. Dr Rakhi will retain his title as CMO.

In addition, Timothy Daly has been promoted to executive vice president, finance to oversee the company’s operations, finance and IT. He will retain his title as treasurer. Both positions will report to Ovid’s chairman and chief executive, Jeremy Levin.  

“2020 is a data-rich year with inflection points across our pipeline, including our pivotal Phase III data readout for OV101 in Angelman syndrome,” said Dr Levin. “In preparation for these events, Amit and Tim will focus on all relevant capabilities required for our next stage of growth. Amit has been instrumental in driving success across Ovid’s programs, and under his exceptional leadership he will continue to propel the evolution of these exciting programs. As we have grown, Tim’s leadership and oversight of our finances and operations have been critical, and as we evolve, he will now lead and integrate additional key functions. I am delighted to announce their promotions today, both of which are very well deserved, and look forward to their continued leadership and guidance,” he added.