Takeda, the world’s largest developer of rare disease drugs, said Tuesday that it has reclaimed full rights to an experimental medicine being tested against uncommon forms of epilepsy. The deal inked with New York-based Ovid Therapeutics carries an almost $200 million upfront payment and could be worth as much as $856 million provided the medicine, known as soticlestat, hits certain milestones.
Soticlestat was discovered at Takeda’s research center in Shonan, Japan, and is supposed to block an enzyme expressed in parts of the brain responsible for learning and memory. In 2017, Takeda teamed up with Ovid, a neuroscience-focused biotech, to develop and commercialize the drug for rare epilepsies. The companies then expanded their collaboration the following year.
Now, Takeda is working to secure all rights to its drug. Terms of the new deal, which is expected to close this month, have Takeda taking sole responsibility of the drug, while Ovid is absolved of any financial obligations under the original agreement. Soticlestat is currently in mid-stage testing, where researchers are evaluating it across several developmental and epileptic brain diseases, including Dravet syndrome and Lennox-Gastaut syndrome. READ MORE
By Jacob Bell
Source: biopharmadive.com
Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.
GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.
Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.
