Epilepsy drug from Ovid and Takeda receives fresh start under Perceptive-backed venture

After about 26 months since two Phase 3 trials failed, the epilepsy treatment candidate originally developed by Ovid Therapeutics and Takeda has been removed from their pipelines.

Investment firm Perceptive Advisors is forming a new company that will acquire the drug, giving it a chance to be further developed.

The move illustrates how capital can revive assets that have stumbled in late-stage testing, offering a potential path forward for the candidate despite earlier setbacks.