Ovid licenses KCC2 activator library from AstraZeneca; $5M cash + $7.5M stock upfront

Ovid Therapeutics Inc.

Exclusive worldwide license for early-stage small molecules targeting KCC2, including lead OV350.
Upfront consideration: $5M cash + $7.5M in Ovid common stock (2,272,727 shares).
Milestones up to $8M clinical, $45M regulatory, $150M commercial; royalties single-digit to 10%.
AstraZeneca retains right of first negotiation at proof of clinical efficacy for strategic collaboration.
OV350 shows in-vitro/in-vivo proof of concept in resistant epilepsy; Ovid to collaborate with Drs. Moss, Maguire.

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