Jan 18 (Reuters) - Takeda Pharmaceutical Co Ltd:
* Takeda and Ovid Therapeutics announce innovative clinical development, commercialization collaboration for TAK-935 in rare pediatric epilepsies
* Takeda Pharmaceutical says received equity in Ovid and may be eligible to receive certain milestone payments based on the advancement of TAK-935
* Takeda Pharmaceutical says Takeda will lead commercialization in Japan, and has the option to lead in asia and other selected geographies
* Takeda Pharmaceutical says Cos to share in development and commercialization costs on 50/50 basis; if successful, will share in profits on 50/50 basis
* Takeda Pharmaceutical says if mutually agreed, additional orphan central nervous system indications may also be pursued
* Takeda Pharmaceutical says Ovid will lead clinical development activities and commercialization of TAK-935 in the U.S., Europe, Canada and Israel
* Takeda pharmaceutical says additional financial details were not disclosed
* Takeda pharmaceutical says companies expect to initiate a phase 1B/2A study in 2017 in patients with rare epileptic encephalopathies Source text for Eikon: ID:nNDL98gtgj Further company coverage: 4502.T