Ovid snaps up Rock2 inhibitor from Sam Waksal-led biotech, continuing climb through neurological terrain
BIOMARKER
1. Ovid Therapeutics is investing $10 million in series A equity in Graviton Bioscience for a Rock2 inhibitor, GV101.
2. The GV101 is being prepared for a phase 2 trial in patients with brainstem cavernous malformations.
3. Graviton is also providing Ovid access to a library of other small molecule Rock2 inhibitors for future development.
4. Sam Waksal, Ph.D., who leads Graviton, described Rock2 as "one of the targets of the century."
5. Ovid will fund development costs and work with Graviton through phase 2 development of GV101 and other assets.
6. Once an asset moves into phase 3 development, Ovid will work independently and have sole commercialization responsibility.
7. Ovid CEO Jeremy Levin says this deal fulfills the company's business development ambitions.
8. Ovid has been reconfiguring its pipeline, including passing off a failed Angelman’s syndrome treatment to Healx in February 2022.
9. An out-licensing deal with Takeda in 2021 for Ovid’s soticlestat could bring in $660 million in new milestone payments if regulatory filings are successful.
10. GV101 is due to begin a crossover multiple ascending dose study next month, with phase 2 studies potentially beginning by fall.