Shots:

• AstraZeneca will receive $5M upfront in cash and $7.5M in shares of Ovid common stock and is eligible to receive ~$8M as potential clinical development milestones and $45M in regulatory milestones
• Total commercial milestones can sum up to $150M and tiered royalty payments ranging from the single digits up to 10% on net sales. AstraZeneca will have the right of the first negotiation to opt-in on a strategic collaboration at the time of proof of clinical efficacy
• Additionally, the company is developing OV329 which is a next-gen pregabalin for tuberous sclerosis and infantile spasms, expected to enter the clinic in 2022. Earlier, Ovid licensed soticlestat which is currently being studied in P-III trials for Dravet and Lennox Gastaut syndromes

Ref: Ovid | Image: Ovid