Ovid Therapeutics Appoints Pioneering Industry Leader Dr. Stelios Papadopoulos to Board of Directors
Rhea-AI Summary
Ovid Therapeutics (Nasdaq: OVID) has appointed Dr. Stelios Papadopoulos to its Board of Directors. Dr. Papadopoulos, a renowned scientist, investor, and entrepreneur with over four decades of biotechnology experience, will serve on the company's Audit and Compensation Committees.
The appointment comes at a strategic time as Ovid advances its pipeline, including novel KCC2 direct activators and OV329 epilepsy program, focusing on developing small-molecule medicines for brain conditions with significant unmet need.
Dr. Papadopoulos brings extensive experience from his roles at Cowen & Co., PaineWebber, and academic positions. He currently serves as Chairman of Exelixis and Regulus Therapeutics, and was previously Chairman of Biogen. He holds an MS in physics, PhD in biophysics, and MBA in finance from New York University.
Positive
- Strategic appointment of industry veteran with 40+ years experience
- Addition of proven leadership in biotech company building and deal-making
- Strengthening of board expertise in CNS therapeutics development
- Enhanced corporate governance through Audit and Compensation Committee membership
Negative
- None.
News Market Reaction – OVID
In the trading session that priced this news, OVID declined 6.92%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, March 03, 2025 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (Nasdaq: OVID), a biopharmaceutical company dedicated to developing small-molecule medicines for brain conditions with significant unmet need, today announced the appointment of Stelios Papadopoulos, Ph.D. to its Board of Directors.
“Stelios is a pioneering force in biotechnology. His vision and strategic acumen have shaped the landscape of our industry—building companies, financing breakthroughs, and enabling transformative medicines. We are honored to welcome him to our Board at a defining moment for Ovid,” said Jeremy Levin, D.Phil, MB BChir, Chairman and CEO of Ovid Therapeutics. “With our advancing pipeline, including our novel KCC2 direct activators and OV329 epilepsy program, Ovid stands on the cusp of delivering real change for neurological and psychiatric diseases. Stelios’s leadership, deal-making creativity, and ability to catalyze growth will be instrumental in propelling Ovid forward.”
“Ovid’s unique research and development programs and talented team stand out in the field of CNS therapeutics, which will continue to be an area of significant interest and activity in the biopharmaceutical sector,” said Dr. Papadopoulos. “Novel and precise, small-molecule medicines for major disorders of the brain will continue to be deeply needed. I look forward to serving on the Board and working with the management team as they pioneer a class of neurotherapeutics and pursue broad scientific and business opportunities associated with restoring neural homeostasis.”
Dr. Papadopoulos is a scientist, investor and entrepreneur who has played a pivotal role in shaping the biotechnology industry by bridging scientific discovery with financial strategy. Dr. Papadopoulos has helped build and guide numerous biotech companies through critical phases of growth. He has deep expertise from a career spanning more than four decades in biotechnology. This includes serving as an investment banker at Cowen & Co., LLC and PaineWebber, Incorporated and, prior to that, in equity research at Drexel Burnham Lambert and Donaldson, Lufkin and Jenrette. Before coming to Wall Street in 1985, Dr. Papadopoulos was on the faculty of the Department of Cell Biology at New York University Medical Center. He has served on many boards, including as the recent past Chairman of the Board for Biogen. Dr. Papadopoulos is currently the Chairman of Exelixis, Inc., which he co-founded, and Regulus Therapeutics Inc. He is a co-founder and chairman of Fondation Santé, a nonprofit organization dedicated to advancing biomedical research. Dr. Papadopoulos has earned an MS in physics, a PhD in biophysics and an MBA in finance, all from New York University.
Dr. Papadopoulos will be a member of Ovid’s Audit and Compensation Committees.
About Ovid Therapeutics
Ovid Therapeutics Inc. is a New York-based biopharmaceutical company dedicated to developing novel medicines for brain conditions with significant unmet need. The Company is advancing a pipeline of novel, targeted small molecule candidates that have the potential to 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 compounds from Ovid’s library of direct activators of KCC2, and OV888/GV101. You can identify forward-looking statements because they contain words such as “advances,” “anticipates,” “believes,” “could,” “intends,” “may,” “potential,” “progress,” 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. 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 Quarterly on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on November 12, 2024, and in 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.
Contact:
Victoria Fort
vfort@ovidrx.com
