Ovid Makes Investment and Strategic Collaboration with Company Developing Phage-Derived Gene Therapies

Ovid Therapeutics has entered into a strategic collaboration with Gensaic, a company developing phage-derived gene delivery vehicles for central nervous system disorders.

Photo: Jeremy Levin, CEO of Ovid and Chairman of Gensaic

Under the terms of the agreement, Gensaic will collaborate exclusively with Ovid Therapeutics to develop up to three genetic medicines for CNS indications using its proprietary phage-derived particle (PDP) platform. PDPs belong to new class of genetically encoded nanoparticles that can deliver more than 20kb of DNA, and hold promise for a redosable, targetable, and scalable gene therapy.

As part of the agreement, Ovid invested $5 million in convertible preferred stock in Gensaic as part of the deal. Gensaic will retain full rights to its platform technology. Ovid will have commercial rights to license and develop any resulting phage-derived gene therapies that emerge from this collaboration subject to agreed-upon terms. Ovid also retained rights to invest in future rounds.

“Ovid’s veteran management team provides a wealth of experience developing and commercializing blockbuster medicines for the world’s leading biopharmaceutical companies,” said Lavi Erisson, co-founder and CEO of Gensaic. “Together, we have the capabilities and academic collaborators to advance this revolutionary gene therapy platform for the brain.”

“We believe genetic medicines are the future of neuroscience, and Gensaic offers an exciting platform that has the potential to overcome known challenges associated with AAV-based technologies,” said Jeremy Levin, CEO of Ovid and Chairman of Gensaic. “This phage-derived platform appears to be optimal for crossing the blood-brain barrier with substantial genetic cargo, and we believe it may hold the potential to treat a broad continuum of diseases of the brain.”

Author: Rare Daily Staff