NEW YORK, June 04, 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 current Chief Business Officer Jeffrey Rona has expanded his role to include Chief Financial Officer responsibilities.
“Ovid is moving forward with a very focused corporate strategy. Combining the business development and financial functions and strategy is another step we have taken to simplify and empower the company to move nimbly and effectively,” said Jeremy M. Levin, DPhil, MB, BChir, Chairman and Chief Executive Officer of Ovid Therapeutics. “Jeff is a terrific professional and has accomplished much at Ovid. I welcome him into this expanded role and look forward to working with him more closely.”
“Ovid’s plans for its future are exciting. I look forward to collaborating with the Executive team and Board to drive the Company’s business and financial growth strategy,” commented Mr. Rona. “Leading the corporate and business development efforts, financial reporting and planning, and building relationships with the investment community, are critical to advancing Ovid’s mission. I welcome the opportunity to take on these roles.”
Jeffrey Rona has more than 25 years of experience as an investment banker, Chief Business Officer, and Chief Financial Officer in the life sciences. Prior to joining Ovid Therapeutics, he was the Western region Managing Director for Danforth Advisors, a life science financial strategy consultancy. Previously, he held the titles of Chief Business Officer at GlobeImmune, Chief Financial Officer at AlgoRx Pharmaceuticals, Chief Financial Officer at Great Basin Scientific, and Director, Investment Banking at UBS. He received his Bachelor of Science degree in accounting from Case Western Reserve University.
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 rare neurological disorders. We believe these disorders represent an attractive area for drug development as the understanding of the underlying biology has grown meaningfully over the last few years and today represents a substantial opportunity medically and commercially. Based on recent scientific advances in genetics and the biological pathways of the brain, we aim to identify, discover and acquire novel compounds for the treatment of rare neurological disorders. We have built a deep knowledge of such disorders, how to treat them and how to develop the clinically meaningful endpoints required for development of a compound in these disorders. We continue to execute on our strategy to build this pipeline by discovering, in-licensing and collaborating with leading biopharmaceutical companies and academic institutions. Ovid’s emerging 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 disorder; and other non-disclosed research targets. Additionally, Ovid maintains a significant financial interest in a program directed to the exploitation of soticlestat, for which Takeda is responsible for the global development and commercialization, if soticlestat is successfully developed and commercialized. Two phase 3 trials for soticlestat in Dravet syndrome and Lennox-Gastaut syndrome are expected to begin in mid-2021. For more information on Ovid, please visit www.ovidrx.com.
