The KCC2 transporter is believed to be important in seizure control. Ovid will pay AstraZeneca an upfront fee of $5 million in cash plus $7.5 million worth of shares. The U.K. pharmaceutical giant could receive up to $8 million in development milestones and regulatory milestones of up to $45 million. If any of the therapies are ultimately approved, AstraZeneca could see $150 million in commercial milestones plus royalties. Back in April, the biotech walked away from its lead candidate in Angelman syndrome after a phase 3 failure. At the time, CEO Jeremy Levin said the company had plenty of cash on hand from a deal with Takeda and that it planned to shop around for potential deals to bulk up the pipeline. RELATED: Ovid plans to shop around with Takeda bucks after 'heart-rending' pivot from Angelman asset The AstraZeneca tie-up is the first in a series of deals that will help Ovid enhance its pipeline, a company spokesperson said.