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NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company dedicated to improving the lives of people affected by rare epilepsies and brain conditions, today announced the appointment of Amanda Banks, M.D., as Chief Development Officer. Dr. Banks will oversee Ovid’s clinical development, medical, and regulatory affairs functions as well as drive corporate development strategy and execution in partnership with the Company’s leadership team.
Dr. Banks brings to Ovid broad and deep experience in neurology, clinical strategy, and business development. Her strategic acumen will serve Ovid at an important juncture for the Company as it determines the optimal paths and partners to unlock the potential therapeutic opportunities associated with Ovid's programs. Specifically, the unique mechanisms of action in the Rho associated coiled-coil containing protein kinase 2 (ROCK2) inhibition and potassium chloride co-transporter 2 (KCC2) direct activator platforms may have broad applications in a range of different indications, including disorders caused by neurovascular dysfunction, neuroinflammation and hyperexcitability. Some of these opportunities Ovid will pursue independently, and others through potential partnerships.
“Amanda’s unique combination of intellect, medical expertise, and business acumen, along with her proven track record of entrepreneurship makes her an exceptional addition to our team,” said Jeremy Levin, D. Phil, MB BChir, Chair and Chief Executive Officer of Ovid Therapeutics. “Her extensive experience in clinical, medical, and business development within the biotech industry positions her perfectly to drive our development efforts at Ovid. We believe she will be instrumental in advancing our differentiated pipeline.”
“This is a pivotal moment for Ovid, and I am excited to join this team to help leverage the full potential of these programs,” said Dr. Banks. “Ovid’s pipeline programs target unique pathways in the brain that are implicated in a range of diseases that currently have unmet needs. I look forward to working with the team to focus our pipeline and accelerate its development through creative deals. This is a unique opportunity to bring multiple novel classes of medicines to patients who need better treatment options,” she added.
Dr. Banks has a strong track record in business leadership, operational excellence and securing transformational partnerships to create value from early-stage assets. Dr. Banks has deep and direct experience across multiple therapeutic areas, particularly neurology, oncology, metabolic disorders, and infectious disease. As a clinical strategist and trialist, she has helped to shape and progress multiple clinical-stage drug development programs. Prior to joining Ovid, Dr. Banks co-founded and served as the CEO of Blackfynn, a data platform company focused on accelerating the development of therapeutics for neurological diseases. Prior to Blackfynn, Dr. Banks spent over a decade in a variety of business development roles for early-stage biotech companies, including at Maxygen and Valentis, where she helped drive M&A, strategic partnerships with pharmaceutical companies, and asset acquisitions. Additionally, she has been an advisor to multiple companies on clinical development, financing, and corporate strategy. Dr. Banks holds an M.D. from University of Pittsburgh School of Medicine and a B.S. from Tufts University. She completed her residency in Internal Medicine at the University of Pennsylvania where she remained on clinical faculty, as well as developed novel care delivery pathways in her role at the Penn Medicine Center for Healthcare Innovation. She continues to take care of patients as a hospitalist at the Veteran Affairs Medical Center of Philadelphia.