Ovid Therapeutics Inc. has announced an agreement with Immedica Pharma AB for the sale of its future royalties related to sales of ganaxolone outside China. The transaction provides Ovid with a non-dilutive capital infusion of $7 million, which will support its ongoing operations. Immedica will acquire 100% of the royalty rights held by Ovid and assume financial responsibility for certain intellectual property costs related to ganaxolone. This agreement strengthens Immedica's focus on ganaxolone by acquiring control of additional intellectual property rights.
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