Reported about 19 hours ago
Ovid Therapeutics Inc. has entered a definitive agreement to sell its future royalty rights for the drug ganaxolone outside China to Immedica Pharma for $7 million in cash. The transaction, which does not affect Ovid's current pipeline since they are not actively developing ganaxolone, includes royalties from a prior agreement with Marinus Pharmaceuticals. Despite this sale, Ovid remains focused on providing therapies for neurological disorders.
Source: YAHOO