Pharma BD Deal Intelligence
Ovid Therapeutics and Takeda assigned global intellectual property rights in soticlestat (TAK-935/OV935), a cholesterol 24-hydroxylase inhibitor, to a new privately held company launched and backed by Perceptive Advisors, which will develop and commercialize the asset for all potential indications including developmental and epileptic encephalopathies such as Dravet syndrome and Lennox-Gastaut syndrome. Ovid received an equity stake in the new company and is eligible for up to USD 294.5 million in clinical, regulatory and commercial milestone payments plus low- to mid-single-digit royalties on net sales if commercialized; a portion of the milestone payments is payable to Ligand under a previously disclosed royalty monetization agreement. The deal revives an asset Takeda had paused after a Phase 3 miss, on the thesis that the trial design rather than the mechanism failed. DATA-QUALITY NOTE: the acquiring NewCo was not named in any disclosure; buyer is recorded as sponsor Perceptive Advisors LLC pending disclosure of the entity name. Ovid's equity percentage and any Takeda-side economics were not disclosed.
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