Let's Make a Deal: Levin's Ovid Raises $75m
This article was originally published in Scrip
Former Teva Pharmaceutical Industries president and CEO Jeremy Levin has gone back to his dealmaking roots as chairman and CEO of Ovid Therapeutics, which just closed a $75m Series B funding round to fund development and acquisition of treatments for rare neurological diseases.
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Emerging Company Profile: Orphan disease-focused Ovid Therapeutics, with $80m in VC financing in the bag and an alliance with Takeda, recently raised $75m in a US initial public offering. Scrip spoke with CEO Jeremy Levin and chief business and finance officer Yaron Werber before the recent IPO about how the young biotech firm intends to become a successful neurology company.
With three biopharma initial public offerings in April, the second quarter is on track to beat the first quarter's total of five IPOs – three in January and two in March – and several more are in the queue.
Private Company Edition: Recent VC financings across biopharma sectors include three major mega-rounds as Generate Biomedicines bringing in $370m, followed by $250m for Acelyrin and $125m for Chroma Medicine. Also, Treadwell raised a $91m series B and Ncardia brought in $60m-plus.