Ovid Therapeutics Inc. (OVID) has entered into a definitive agreement with Immedica Pharma AB for the sale of its future royalties related to ganaxolone sales outside of China.
Ganaxolone is an approved treatment by Marinus Pharmaceuticals (MRNS) in the EU, Great Britain, the U.S., and China for epileptic seizures linked to cyclin-dependent kinase-like 5 (CDKL5) deficiency disorder in patients aged 2 to 17 years.
Immedica Therapeutics (IMZ) will pay $7 million in cash to acquire 100% of the royalty rights held by OVID.
This deal provides a non-dilutive capital infusion of $7 million to OVID to support its ongoing operations.
In 2024, OVID recorded approximately $566,000 in ganaxolone royalty revenues.
