Ovid Therapeutics Appoints Dr. Kevin Fitzgerald to Board of Directors

NEW YORK, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ:OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, today announced that it has appointed Kevin Fitzgerald, Ph.D., to its Board of Directors.

"We are very pleased to have Kevin join our Board of Directors. His experience transforming state-of-the-art science and novel platform technologies into commercial medicines will provide valuable perspective for Ovid's neuroscience development programs," said Jeremy Levin, D.Phil, MB BChir, Chairman and Chief Executive Officer of Ovid Therapeutics. "Kevin's expertise across small molecule and next-generation modalities makes him an ideal director for Ovid as we pursue innovative platforms for the development and delivery of therapeutics to the brain."

"Neurological diseases represent an area of great unmet patient need, and the discovery of novel therapies is among the most exciting frontiers of therapeutic innovation. Ovid's strategic approach to targeting and delivering therapies to the disorders of the brain bridges the technology of today with that of tomorrow," said Fitzgerald. "I am delighted to join their Board and look forward to supporting their advances for patients with rare diseases of the central nervous system."

Dr. Fitzgerald has over 20 years of successful drug discovery experience and currently serves as the Chief Scientific Officer, Senior Vice President and Head of Research at Alnylam Pharmaceuticals. He joined Alnylam in 2005 after a seven-year tenure at Bristol Myers Squibb. At Alnylam, Kevin and his teams discovered and clinically validated two different modes of siRNA delivery, and he has been instrumental in the development of a novel pipeline of approved and progressing RNAi therapeutics. Dr. Fitzgerald is a prolific inventor. His co-inventorship accomplishments include many of Alnylam's marketed and pipeline programs. He has co-authored more than 50 peer-reviewed papers, which have been published in prestigious journals including, Nature, Cell, and the New England Journal of Medicine.

About Ovid Therapeutics

Ovid Therapeutics Inc. is a New York-based biopharmaceutical company using its BoldMedicine^® approach to develop medicines that transform the lives of patients with neurological disorders. Ovid seeks to couple deep CNS experience with emerging advances in genetics and the pathways of the brain to build a leading, next-generation neuroscience pipeline. Ovid's current pipeline programs include: OV329, a small molecule GABA aminotransferase inhibitor for seizures associated with Tuberous Sclerosis Complex and Infantile Spasms; OV882, a short hairpin RNA therapy approach for Angelman syndrome; OV815, a genetic therapy approach for KIF1A associated neurological disorders; and other research targets. Additionally, Ovid maintains a significant financial interest in the future regulatory development and potential commercialization of soticlestat, which Takeda is responsible for advancing globally. Two Phase 3 trials for soticlestat in Dravet syndrome and Lennox-Gastaut syndrome are expected to begin in 2021. For more information on Ovid, please visit www.ovidrx.com.

Forward-Looking Statements

This press release includes certain disclosures that contain "forward-looking statements," including, without limitation, statements regarding the development of Ovid's product candidate pipeline, Ovid's strategic approach, and the potential therapeutic benefits of Ovid's product candidates and the clinical and regulatory development and potential commercialization of soticlestat. You can identify forward-looking statements because they contain words such as "will," "appears," "believes" and "expects." Forward-looking statements are based on Ovid's current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, uncertainties inherent in the preclinical and clinical development and regulatory approval processes, the risk that Ovid may not be able to realize the intended benefits of its technology and risks to Ovid's or Takeda's abilities to meet anticipated deadlines and milestones presented by the ongoing COVID-19 pandemic. Additional risks that could cause actual results to differ materially from those in the forward-looking statements are set forth under the caption "Risk Factors" in Ovid's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on August 16, 2021 and in future filings Ovid makes with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Ovid assumes no obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

Contacts

Investors and Media:

Ovid Therapeutics Inc.

Meg Alexander

917-943-6681

[email protected]

OR

Investors:

Argot Partners

Dawn Schottlandt

212-600-1902

[email protected]