Thank you, next: Take­da hands Ovid $196M cash to rein back in Phase III-ready seizure drug, re­viv­ing bat­tered stock

Soti­cle­stat made it.

Take­da is bring­ing the drug back in­to its fold more than four years af­ter first en­trust­ing the team at Ovid with the mid-stage clin­i­cal work. For all that — gen­er­at­ing what they saw as pos­i­tive Phase II da­ta in Dravet syn­drome and Lennox-Gas­taut syn­drome — the biotech has been re­ward­ed with $196 mil­lion in up­front cash, with an­oth­er $660 mil­lion re­served for reg­u­la­to­ry and com­mer­cial mile­stones.

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