Business
Ovid Therapeutics Announces Senior Management Promotions in Preparation for Multiple Data Readouts Expected in 2020
Amit Rakhit, M.D., MBA, Promoted to President Timothy Daly Promoted to Executive Vice President, Finance NEW YORK, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Ovid
About this update from Ovid Therapeutics Inc.
[{"type":"text","content":"Amit Rakhit, M.D., MBA, Promoted to President\n Timothy Daly Promoted to Executive Vice President, Finance NEW YORK, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, today announced two senior leadership changes to further build the company’s capabilities as it approaches topline results from the pivotal Phase 3 NEPTUNE trial for OV101 in Angelman syndrome, expected in mid-2020. Ovid’s Chief Medical Officer and Head of Research and Development, Amit Rakhit, M.D., MBA, has been promoted to President, in which role he will oversee several functions including commercial, research and development, regulatory, and manufacturing. Amit will retain his title as Chief Medical Officer. In addition, Timothy Daly has been promoted to Executive Vice President, Finance to oversee the company’s operations, finance and IT. Tim will retain his title as Treasurer. Both positions will report to Ovid’s Chairman and Chief Executive Officer, Jeremy Levin, D.Phil., MB, BChir. “2020 is a data-rich year with inflection points across our pipeline, including our pivotal Phase 3 data readout for OV101 in Angelman syndrome,” said Dr. Levin. “In preparation for these events, Amit and Tim will focus on all relevant capabilities required for our next stage of growth. Amit has been instrumental in driving success across Ovid’s programs, and under his exceptional leadership he will continue to propel the evolution of these exciting programs. As we have grown, Tim’s leadership and oversight of our finances and operations have been critical, and as we evolve, he will now lead and integrate additional key functions. I am delighted to announce their promotions today, both of which are very well deserved, and look forward to their continued leadership and guidance.” Amit Rakhit, M.D., MBA, has served as Ovid’s Chief Medical Officer since March 2016 and Chief Medical Officer and Head of Research and Development since March 2019. Previously, Dr. Rakhit was Senior Vice President, Head of Worldwide Medical at Biogen Inc., from 2014 to 2016 and Vice President, Program Leadership from 2011 to 2014 where he led the Spinraza® and dexpramipexole development programs. Earlier, he worked at Bristol-Myers Squibb Company for 10 ...