Ovid Therapeutics to Present Multiple Posters Supporting Its Pipeline Programs Targeting Neuronal Hyperexcitability at the American Epilepsy Society 2024 Annual Meeting

• Two preclinical studies to be presented on OV329, a potential next-generation GABA aminotransferase inhibitor, highlighting its safety profile and lack of ocular accumulation relative to vigabatrin

• Findings to be presented on the effects of OV329 on elevating GABA and suppressing seizures as evaluated in the lithium-pilocarpine model of status epilepticus
  
  

• A study of the effect of OV350, a KCC2 direct activator, in rescuing animals from nerve agent-induced benzodiazepine-resistant refractory status epilepticus to be presented
  
  

NEW YORK, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ:OVID), a biopharmaceutical company dedicated to developing medicines for brain conditions with significant unmet need, today announced it will present four posters that support the Company's OV329 and OV350 pipeline programs for the treatment of conditions caused by neuronal hyperexcitability at the 2024 American Epilepsy Society (AES) Annual Meeting in Los Angeles, California.

"We are encouraged by the results of preclinical studies comparing OV329 to vigabatrin, which further elucidate OV329's pharmacodynamic and safety profile, including its lack of accumulation in the brain, retina, and eye," said Zhong Zhong, Ph.D., Chief Scientific Officer of Ovid Therapeutics. "These findings, alongside preclinical studies demonstrating rapid exposure in the brain, further support OV329's potential to be a best-in-class GABA-aminotransferase (GABA-AT) inhibitor. GABA-AT inhibition is a proven mechanism of action, yet it has had limited clinical use over the years due to reported ocular toxicities associated with the first-generation medicine. OV329 may address the therapeutic needs of patients seeking anti-convulsant efficacy and improved safety without sedation."

"Additionally, we are excited by new findings that reinforce OV350's activity in terminating seizures and providing neuroprotective benefits in animals. OV350 is the first of multiple programs we are developing that directly activate the potassium chloride co-transporter 2 (KCC2), a fundamental target in restoring inhibitory/excitatory balance. Next year, we hope to be the first company to study a KCC2 direct activator in humans."

POSTERS TO BE PRESENTED ON OVID DEVELOPMENT PROGRAMS:

OV329: A Potential Next-Generation GABA-AT Inhibitor

OV350: A KCC2 Direct Activator

About Ovid Therapeutics

Ovid Therapeutics Inc. is a New York-based biopharmaceutical company dedicated to developing medicines for brain conditions with significant unmet need. The Company is advancing a pipeline of novel, targeted small molecule candidates that modulate the intrinsic and extrinsic factors involved in neuronal hyperexcitability causative of multiple neurological and neuropsychiatric disorders. Ovid is developing: OV329, a next-generation GABA-aminotransferase inhibitor, as a potential therapy for treatment-resistant seizures and other undisclosed indications; OV350, and a library of compounds that directly activate the KCC2 transporter, for multiple CNS disorders; and OV888/GV101, a highly selective ROCK2 inhibitor, for undisclosed neurovascular and neuro-inflammatory conditions. For more information about these and other Ovid research programs, please visit www.ovidrx.com.

Forward-Looking Statements

This press release includes certain disclosures by Ovid that contain "forward-looking statements" including, without limitation: statements regarding the potential use and development of OV329, OV350 and other compounds from Ovid's library of direct activators of KCC2, and OV888/GV101; the potential therapeutic opportunity of OV329, OV350 and other compounds from Ovid's library of direct activators of KCC2, and OV888/GV101; OV329's potential to be a best-in-class GABA-aminotransferase (GABA-AT) inhibitor; the expected timing of initiation of Ovid's clinical studies; and other statements that are not historical fact. You can identify forward-looking statements because they contain words such as "anticipates," "believes," "expects," "intends," "may," "plan," "potentially," and "will," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances). 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, impediments to Ovid's ability to achieve expected benefits of cost-savings efforts, risks related to Ovid's ability to achieve its financial objectives, the risk that Ovid may not be able to realize the intended benefits of its technology or its business strategy, or risks related to Ovid's ability to identify business development targets or strategic partners, to enter into strategic transactions on favorable terms, or to consummate and realize the benefits of any business development transactions. 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 most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission ("SEC"), and in subsequent and 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.

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