Neurology drug developer Ovid Therapeutics will use the Sanofi-backed series B round to fund the advancement of its lead candidate into Phase 2 trials.
US-based biopharmaceutical company Ovid Therapeutics closed a $75m series B round yesterday featuring Sanofi-Genzyme BioVentures, the corporate venturing subsidiary of pharmaceutical firm Sanofi.
The round was led by Fidelity Management and Research Company and included Cowen Private Investments, Tekla Capital Management, Sphera Global Healthcare Fund, Jennison Associates, Redmile Group, Cormorant Asset Management, DoubleLine Equity Healthcare Fund and undisclosed blue chip mutual funds and leading life sciences investors.
Ovid was founded in 2014 and is working on treatments for rare and…
