Ovid Therapeutics to Present Five Abstracts Supporting its Epilepsy Programs at the 77th American Epilepsy Society Annual Meeting (2023)

• Posters with new preclinical data on the pharmacokinetic and pharmacodynamic behavior of OV329 support its profile as a potential best-in-class GABA aminotransferase inhibitor
• Disease models provide further evidence characterizing OV350 and its anticipated seizure reduction and neuroprotective profile, including its ability to reverse diazepam-resistant seizures

NEW YORK, Dec. 01, 2023 (GLOBE NEWSWIRE) — Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company developing medicines designed to conquer epilepsies and meaningfully improve the lives of people affected by brain disorders, today announced that five posters featuring data supporting its OV329 and OV350 programs for the potential treatment of epilepsies and treatment-resistant seizures will be presented at the 2023 American Epilepsy Society (AES) Annual Meeting in Orlando, Florida.

“We believe that new findings describing the pharmacokinetic and pharmacodynamic behavior of OV329 reinforce that it has a unique profile relative to prior GABA-aminotransferase inhibitors,” said Manoj Malhotra, M.D. and Chief Medical Officer of Ovid Therapeutics. “GABA-AT is a validated target in seizure reduction that has been limited in clinical use to date. We hope to develop an improved, best-in-class GABA-AT inhibitor to treat patients suffering from pharmaco-resistant seizures.”

“We are additionally excited to present multiple refractory seizure models evaluating OV350, a direct KCC2 transporter activator, which suggests its potential properties as a monotherapy as well as a potentiator of benzodiazepines,” said Malhotra. “KCC2 is a novel mechanism of action which we believe has significant promise for the treatment of seizures.”

Posters to be presented on Ovid development programs are listed here:

OV329, A POTENTIAL NEXT-GENERATION GABA-AT INHIBITOR

Title: Evaluation of OV329, a Next-Generation GABA-AT Inhibitor, in the Intra-Amygdala Kainate Model of Mesial Temporal Lobe Epilepsy.
Session Date & Time: 12-2 p.m. EST, Sunday, December 3
Presenter: Patrick Sarmiere, Ph.D.
Poster Number: #2.252

Title: Blocking of GABA-AT Activity by OV329 Selectively Alters Tonic and Phasic Inhibition in Dentate Gyrus Granule Cells.
Session Date & Time: 12-2 p.m. EST, Sunday, December 3
Presenter: Jay Mukherjee, Ph.D.
Poster Number: #2.253

Title: Low, Repeat Dosing of OV329 Enhances GABA-AT Inhibition in Rodent Brain: Relationship between Pharmacokinetic (PK) and Pharmacodynamic (PD) Effects.
Session Date & Time: 12-1:45 p.m. EST, Monday, December 4
Presenter: Jay Mukherjee
Poster Number: # 3.255

OV350, A DIRECT ACTIVATOR OF POTASSIUM CHLORIDE CO-TRANSPORTER 2 (KCC2)

Title: Activation of KCC2 by OV350 Reverses Diazepam Resistant Seizures in Cdkl5 KO Mice.
Session Date & Time: 12-2 p.m. EST, Sunday, December 3
Presenter: Paul Davies, Ph.D.
Poster Number: #2.250

Title: Potentiation of KCC2 shows Neuroprotective and Anti-inflammatory Effects in Kainic Acid-induced Refractory Status Epilepticus Model.
Session Date & Time: 12-1:45 p.m. EST, Monday, December 4
Presenter: Toshiya Nishi, DVM
Poster Number: #3.256

About Ovid Therapeutics
Ovid Therapeutics Inc. is a New York-based biopharmaceutical company striving to conquer seizures and intractable brain disorders with courageous science. The Company is advancing a focused pipeline of targeted small molecule candidates to modulate the intrinsic and extrinsic factors involved in neuronal hyperexcitability, which can cause seizures and other neurological symptoms. Ovid is developing: OV888, a potent and highly selective ROCK2 inhibitor, for the potential treatment of lesions associated with cerebral cavernous malformations; OV329, a GABA-aminotransferase inhibitor, for the potential treatment of treatment-resistant seizures; and OV350, a direct activator of the KCC2 transporter, for the potential treatment of epilepsies. In addition, the Company’s ROCK2 inhibitor and KCC2 activator portfolios have the potential to treat other neurological conditions. Ovid also maintains a significant financial interest in the future regulatory development and potential commercialization of soticlestat, which Takeda is responsible for advancing globally. Soticlestat is a cholesterol 24-hydroxylase inhibitor, which is currently in Phase 3 trials for Dravet and Lennox-Gastaut syndromes. For more information about these and other Ovid research programs, please visit www.ovidrx.com.

Forward-Looking Statements
This press release includes certain disclosures by Ovid that contain “forward-looking statements,” including, without limitation: statements regarding the potential use and development of OV329, OV888, OV350; the libraries of ROCK2 inhibitors and KCC2 compounds in Ovid’s portfolio; the potential therapeutic opportunity of OV329, OV888 and other ROCK2 inhibitors and OV350 and other KCC2 inhibitors; and the potential opportunity for soticlestat. You can identify forward-looking statements because they contain words such as “anticipates,” “believes,” “expected,” “intends,” “may,” “plan,” “potentially,” “seek,” and “will,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances). Forward-looking statements are based on Ovid’s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, uncertainties inherent in the preclinical and clinical development and regulatory approval processes, risks related to Ovid’s ability to achieve its financial objectives, the risk that Ovid may not be able to realize the intended benefits of its technology or its business strategy, or risks related to Ovid’s ability to identify business development targets or strategic partners, to enter into strategic transactions on favorable terms, or to consummate and realize the benefits of any business development transactions. Additional risks that could cause actual results to differ materially from those in the forward-looking statements are set forth under the caption “Risk Factors” in Ovid’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on November 3, 2023, and in future filings Ovid makes with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Ovid assumes no obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

Contacts

Media:
1AB (on behalf of Ovid)
Josie Butler
910-337-0707
J@1ABmedia.com

OR

Investors:
Argot Partners
Maeve Conneighton
212-596-7231
ovid@argotpartners.com