A New York biotech company developing treatments for a rare neuro-genetic disorder that leaves patients unable to live their lives independently will license genetic sequences developed at UConn Health, the two parties announced recently.
Publicly traded Ovid Therapeutics, whose lead investigational drug candidate for Angelman Syndrome, OV101, is currently in a Phase 3 human trial, is hoping that studying the proprietary sequences and working with UConn molecular geneticist and Angelman Syndrome expert Stormy J. Chamberlain will help it develop genetic therapies, including those that may be used in conjunction with OV101.
Financial terms of the agreement were not disclosed.
Angelman Syndrome primarily affects the nervous system, causing delayed development, intellectual disability, speech impairment, seizures and other problems, according to the National Institutes of Health.
There are no approved therapies for the syndrome, which affects between one in 12,000 to one in 20,000 people.
In a statement, Dr. Amit Rakhit, OVID’s president and chief medical officer, said the research collaboration with UConn “provides us with additional targets against this disorder, greater strategic optionality, and underpins our broad capability to bring new therapies to individuals living with Angelman syndrome both near-term and into the future.”
Over the past decade, UConn has sought to focus on bringing in such licensing arrangements in greater numbers.
However, the school’s numbers have remained relatively flat, not surpassing $1.7 million. UConn reported 21 license and option deals last fiscal year, and $740,000 in licensing revenue.
While its faculty secures patents at a higher-than-average rate compared to peer schools, patent revenue and startup creation in recent years at UConn has been below average, the school has said in recent reports.
