Gaboxadol

Initiated collaboration with Graviton Bioscience to develop selective ROCK2 inhibitors for rare neurological diseases Long-term data supporting soticlestat safety, tolerability and seizure-reduction efficacy presented by Takeda at the American Academy of Neurology meeting OV329 Phase 1 trial continues to progress on track with no safety signals Company to prioritize development of its clinical small molecule programs; intends to conclude and explore the out-licensing of its genetic medicine programs with Columbia University NEW YORK, May 05, 2023 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare epilepsies and seizure-related disorders, today reported business updates and financial results for the first quarter ended March 31, 2023. “Our recent transaction with Graviton adds a clinical stage program with a novel mechanism of action to our pipeline of potential first-in-class or potential best-in-class medicines for rare epilepsies and seizure-related disorders. We are excited to explore the therapeutic opportunity of applying ROCK2 inhibition for people suffering with serious neurological conditions, beginning with brainstem cavernous malformations, a grave condition that has no approved medicine today,” said Jeremy Levin, D.Phil, MB BChir, Ovid's Chairman and CEO. “Importantly, all elements of our pipeline are progressing. We are encouraged by long-term and post hoc analyses on soticlestat, recently presented by Takeda, and look forward to seeing results from the Phase 3 pivotal trials. Additionally, we have assembled a unique set of programs, anchored by four potential best-in-class or only-in-class mechanisms of action, including: selective ROCK2 inhibition, GABA-aminotransferase inhibition, direct KCC2 activation and cholesterol 24-hydroxylase inhibition that was since out-licensed to Takeda. The mechanisms in this pipeline strategically position Ovid to be a leader in rare seizure-related disorders. Collectively, we believe these programs will deliver multiple clinical milestones that can generate value for patients and shareholders,” added Dr. Levin. First Quarter Business Update R&D strategy: Ovid is prioritizing its pipeline of small molecule programs, to which it recently added GV101 and a library of novel ROCK2 inhibitor compounds through its collaboration with Graviton Bioscience (Graviton). The Company’s efforts focus on establishing therapeutic proof-of-concept in humans using efficient, signal-finding trials and validated biomarkers of efficacy. Ovid will conclude its research collaboration with Columbia University by year-end 2023 and explore business development opportunities for its non-core genetic programs produced from that research initiative. Financial strategy: Ovid anticipates its cash runway should fund operations into 2025 without additional funding. Ovid plans to direct capital to clinical opportunities that it believes to be value-creating for shareholders. To support this strategy, Ovid instituted cost-cutting measures that began in 2022 and continue into this year, such as the conclusion of its genetic programs with Columbia University and other administrative cost saving activities. Apart from its current runway projections, Ovid is eligible to receive additional non-dilutive capital from Takeda, if and when soticlestat is successfully approved and marketed. Takeda has guided that it anticipates filing for global regulatory approvals of soticlestat in its fiscal year 2024. Business development activities: The Company's recent collaboration with Graviton adds a clinical stage program and preclinical assets to Ovid's pipeline, achieving one of Ovid's annual goals. Future business development efforts will focus on exploring out-licensing opportunities for Ovid's genetic programs, as well as potential partnerships to advance development opportunities for its assets in indications outside of seizures. The Company intends to make disciplined strategic investments in its scientific and leadership team to steward the business and its programs. Pipeline Update GV101 and selective ROCK2 inhibitor library: In May 2023, Ovid entered into a collaboration agreement with Graviton and is initiating clinical development work to support a pivotal formulation and dose for its lead asset, GV101. Ovid seeks to take GV101 into a potential Phase 2 trial for the treatment of cavernous malformations located in the brainstem in 2024. GV101 is a potent, highly selective ROCK2 inhibitor that has previously been shown to be blood-brain barrier penetrant in animals. Additionally, GV101 was generally well tolerated in a prior Phase 1 study in healthy volunteers using a nano-suspension formulation. Working through a joint development committee with Graviton, Ovid intends to initiate a multiple ascending dose study in the second half of 2023 to confirm its preferred dose in a gel capsule formulation. In parallel, Graviton is working to open a potential Investigational New Drug (IND) application in cavernous malformations of the brain. OV329, a potential next generation GABA-aminotransferase (GABA-AT) inhibitor, is on track in a Phase 1 trial of healthy volunteers. The Company has seen no safety signals in single ascending dose cohorts conducted to date. Ovid believes OV329 is more potent than prior GABA-AT inhibitors, and therefore may provide significant seizure reduction efficacy, an improved safety profile, and preferable (lower) dosing. Ovid anticipates full Phase 1 findings in the first half of 2024, including biomarker data that may serve as a proxy for seizure reduction efficacy. Additional long-term animal toxicology programs and efficacy models are ongoing to further support development and future indication selection. OV350, the lead compound in Ovid's KCC2 portfolio, is advancing in preclinical studies. The objective of current studies is to support future clinical development in seizure-related disorders. In addition to OV350, Ovid is characterizing other compounds in the unique KCC2 activator library to identify oral formulations and to explore the potential relevance of the KCC2 transporter target in animal models of additional diseases. Soticlestat is progressing in two Phase 3 pivotal trials for Lennox-Gastaut syndrome (LGS) and Dravet syndrome (DS). Takeda recently presented a positive analysis of long-term data on patients taking soticlestat at the 2023 American Academy of Neurology meeting. An analysis of patients who participated in a long-term open label extension study called ENDYMION 1 showed that at two years of treatment with soticlestat, the compound was generally safe and well tolerated, consistent with prior studies. Additionally, it showed sustained reduction in frequency of drop seizures among LGS patients and convulsive seizures among DS patients as well as sustained reductions in the frequency of all-seizures from baseline for up to two years across both cohorts. A separate analysis of the Phase 2 study, ELEKTRA, was presented and found a reduction in median seizure frequency across multiple seizure types. Ovid is eligible to receive regulatory and commercial milestone payments of up to $660 million, as well as royalties of up to 20% on global sales, if regulatory approval is received and soticlestat is commercialized. Concluding genetic research collaboration with Columbia University. By year-end 2023, Ovid will conclude its three-year research collaboration with Columbia to focus its capabilities on the development of its small molecules and seizure-related disorder candidates. The portfolio includes OV815, OV825, and OV835, which are novel and viable preclinical candidates and programs. The Company will explore business development opportunities to maximize the scientific and therapeutic potential of these programs and return on investment. First Quarter 2023 Financial Results Cash, cash equivalents and marketable securities as of March 31, 2023, totaled $117.7 million. Revenue was $66,160 for the three months ended March 31, 2023, and $1.4 million for the same period in 2022. Revenue in the three months ended March 31, 2023, was from ZTALMY® (ganaxolone) royalties from Marinus Pharmaceuticals, Inc., and revenue for the same period in 2022 was generated from licensing and other agreements. Research and development expenses were $6.6 million for the three months ended March 31, 2023, as compared to $7.8 million for the same period in 2022. The decrease was due to cessation of clinical development programs related to gaboxadol and soticlestat, offset by clinical development costs for OV329. General and administrative expenses were $8.3 million for the three months ended March 31, 2023, as compared to $9.9 million for the same period in 2022. The decrease was due to personnel cost reductions following corporate cost-cutting efforts and a headcount reduction conducted in March 2022. Total operating expenses were $15.0 million in the three months ended March 31, 2023, as compared to $17.7 million for the same period last year. The decrease was a result of the above mentioned expense reduction efforts undertaken in 2022. Ovid reported a net loss of $13.4 million, or basic and diluted net loss per share attributable to common stockholders of $0.19, for the three months ended March 31, 2023, as compared to a net loss of $16.1 million, or basic and diluted net loss per share attributable to common stockholders of $0.23, for the same period in 2022. About Ovid Therapeutics Ovid Therapeutics Inc. is a New York-based biopharmaceutical company striving to conquer seizures and brain disorders with courageous science. Ovid’s pipeline of small molecule candidates seek to meaningfully improve the lives of people and families affected by rare epilepsies and seizure-related disorders. Ovid seeks to develop: GV101, a potent and highly selective ROCK2 inhibitor for the potential treatment of lesions associated with cerebral cavernous malformations; OV329, a GABA-aminotransferase inhibitor, for treatment-resistant seizures, and OV350, a direct activator of the KCC2 transporter, for potential treatment of epilepsies. In addition, Ovid maintains a significant financial interest in the future regulatory development and potential commercialization of soticlestat, which Takeda is responsible for advancing globally. Soticlestat is a cholesterol 24-hydroxylase inhibitor, which is currently in Phase 3 trials for Dravet and Lennox-Gastaut syndromes. For more information about these and other Ovid research programs, please visit Forward-Looking Statements This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation: statements regarding the Phase 1 study in healthy volunteers for OV329; the potential use of OV329, GV101 and OV350; the clinical and regulatory development of our programs, including the anticipated timing of clinical data; the likelihood that data for OV329, GV101 and OV350 will support future development and therapeutic potential; the potential development of GV101 and the library of ROCK2 inhibitors and OV350 and other KCC2 compounds in Ovid’s library; the suitability of Ovid’s library of novel, direct KCC2 transporter activators and the library of ROCK2 inhibitors for a range of formulations and administrations; the timing for filing of Ovid’s IND applications; the potential development and therapeutic opportunity of GV101 and other Rho/Rho associated coiled-coil containing protein kinase 2 inhibitors; and the potential safety, selectivity and potency of GV101 and other ROCK2 inhibitors; the timing for the completion of Takeda’s two pivotal Phase 3 trials evaluating soticlestat for Dravet syndrome and Lennox-Gastaut syndrome; and the duration of Ovid’s expectations regarding its cash runway and the expectation that it will support the advancement of Ovid’s pipeline. You can identify forward-looking statements because they contain words such as “anticipates,” “believes,” “expected,” “intends,” "may," “plan,” “potentially,” “seek,” “strive” 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, risks related to Ovid’s ability to achieve its financial objectives, the risk that Ovid may not be able to realize the intended benefits of its technology or its business strategy, or risks related to Ovid’s ability to identify business development targets or strategic partners, to enter into strategic transactions on favorable terms, or to consummate and realize the benefits of any business development transactions. 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 Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on March 13, 2023, 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. Condensed Consolidated Statements of Operations Unaudited For the Three Months Ended March 31, 2023 For the Three Months Ended March 31, 2022 Revenue: License and other revenue $ 66,160 $ 1,445,366 License revenue - related party — — Total revenue 66,160 1,445,366 Operating expenses: Research and development 6,614,717 7,832,269 General and administrative 8,343,748 9,880,203 Total operating expenses 14,958,465 17,712,472 Loss from operations (14,892,304) (16,267,106) Other income (expense), net 1,536,095 159,050 Loss before provision for income taxes (13,356,209) (16,108,056) Provision for income taxes — — Net loss $ (13,356,209) $ (16,108,056) Net loss per share, basic $ (0.19) $ (0.23) Net loss per share, diluted $ (0.19) $ (0.23) Weighted-average common shares outstanding, basic 70,490,704 70,345,828 Weighted-average common shares outstanding, diluted 70,490,704 70,345,828 Select Condensed Balance Sheet Data Unaudited March 31, 2023 December 31, 2022 Cash, cash equivalents and marketable securities $ 117,720,021 $ 129,001,411 Working capital(1) 112,798,366 124,389,166 Total assets 143,367,004 155,265,814 Total stockholder's equity 120,947,682 132,272,564 (1)Working capital defined as current assets less current liabilities Contacts Investors and Media: Ovid Therapeutics Inc. Meg Alexander Chief Corporate Affairs Officer 917-943-6681 malexander@ovidrx.com OR Investors: Argot Partners Maeve Conneighton 212-596-7231 ovid@argotpartners.com

OV329 Phase 1 trial is progressing on trackAn IV formulation candidate suitable for future clinical trials has been achieved for OV350, one of several compounds from the Company’s KCC2 activator portfolioTakeda's guidance on soticlestat remains unchanged; anticipates regulatory filings in its FY 2024Current cash runway expected to fund operations into the first half of 2025 NEW YORK, March 13, 2023 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with epilepsies and seizure-related disorders, today provided a business update and reported financial results for the fourth quarter and full year ended December 31, 2022. “Ovid has significant momentum entering 2023. OV329, our next generation GABA-aminotransferase inhibitor program, is being actively studied in healthy volunteers. In the first half of 2024, we anticipate data characterizing OV329’s potential efficacy using a biomarker as well as its initial safety profile. In addition, Takeda is progressing the study of soticlestat in two, pivotal Phase 3 trials of patients with Dravet and Lennox-Gastaut syndromes,” said Jeremy Levin, D.Phil, MB BChir., Chairman and CEO of Ovid Therapeutics. "We continue to refine our development pipeline of differentiated anti-seizure medicines while maintaining fiscal and strategic focus to drive long-term shareholder value,” remarked Dr. Levin. 2022 Business Strategy & Update R&D strategy: Ovid is advancing a differentiated pipeline of programs that use potential first-in-class and best-in-class mechanisms of action to act upon under-addressed biological targets implicated in causing seizures. This pipeline has produced two clinical development programs, soticlestat (which was repurchased by Takeda) and OV329, which are being studied in Phase 3 and Phase 1 trials, respectively. In addition, the Company continues to advance several research-stage, small molecule anti-seizure programs.Financial strategy: The Company is directing its capital to programs that it believes represent value-creating opportunities for shareholders, and anticipates its cash runway should fund operations into the first half of 2025. To support this strategy, Ovid instituted cost-cutting measures that began in 2022 and continue into this year. In addition, Ovid is eligible to receive non-dilutive capital from Takeda, if and when soticlestat is successfully approved and marketed.Business development strategy: Ovid intends to conduct disciplined business development activities with a focus on clinical stage assets and enabling technologies to complement its portfolio of anti-seizure medicines. Activities focus on in-licensing assets that can increase opportunities to create shareholder value and mitigate risk to shareholders associated with any one program. Updates in 2022 include: Healx: Healx has been progressing development efforts for gaboxadol (OV101) as part of the agreement that Ovid entered in February 2022, under which Healx secured an exclusive option right to develop and commercialize the compound. Healx stated that it intends to initiate a clinical trial of gaboxadol in combination with another molecule for people living with Fragile X syndrome in 2023.Gensaic: In August 2022, Ovid entered into a research agreement with Gensaic to harness its novel phage-derived particle (PDP) gene delivery platform for the development of genetic medicines for central nervous system indications. Relative to genetic medicines using viral vectors, Ovid believes PDPs may be optimal for crossing the blood-brain barrier and potentially more cost effective to manufacture. Infrastructure & human capital updates: Ovid intends to maintain a concentrated workforce with experts dedicated to anti-seizure medicines development. The Company expanded its bench of leaders in Q1 2023, with the addition of Manoj Malhotra, M.D. and Toshiya Nishi, D.V.M. Dr. Malhotra is a recognized board-certified epileptologist who joined Ovid from past leadership roles at the Cleveland Clinic, Eisai, Novartis and Takeda. Dr. Nishi is the co-inventor of soticlestat and a skilled translational scientist. Pipeline Update & Anticipated Milestones OV329, a potential next generation GABA-aminotransferase (GABA-AT) inhibitor, is advancing on track in a Phase 1 trial of healthy volunteers. Ovid believes OV329 is more potent than prior GABA-AT inhibitors, and therefore may potentially provide: significant seizure reduction efficacy, an improved safety profile, and preferable (lower) dosing. Ovid anticipates full Phase 1 findings in H1 2024, including biomarker data that may serve as a validated proxy for seizure reduction efficacy.OV350, one of several compounds in Ovid’s KCC2 portfolio, has been successfully formulated for potential clinical study as an IV formulation. Ovid is evaluating this formulation in several preclinical seizure models and anticipates a possible IND filing in 2024. In addition, development efforts will continue to characterize other compounds in the KCC2 library with a focus on achieving an oral formulation and exploring applications in epilepsies and other brain disorders.Takeda is executing two pivotal Phase 3 trials studying soticlestat for Lennox-Gastaut syndrome (LGS) and Dravet syndrome (DS). It previously disclosed that it anticipates regulatory filings in its fiscal year 2024 and confirmed during regularly scheduled communications on March 10, 2023. Takeda repurchased Ovid's interest in soticlestat in 2021, and Ovid is subsequently eligible to receive regulatory and commercial milestone payments of up to $660 million, as well as royalties up to 20% on global sales, if regulatory approval is received and soticlestat is commercialized. Ovid has no ongoing obligations or costs associated with the development of soticlestat.Genetic medicines for neurodevelopmental conditions. Ovid is evaluating business development opportunities associated with its non-core nucleic acid programs. Fourth Quarter and Year-End Financial Results 2022 Cash, cash equivalents and marketable securities as of December 31, 2022 totaled $129.0 million.Revenue was $46,280 for the fourth quarter and $1.5 million for the year ended December 31, 2022, as compared to zero and $208.4 million for the same periods in 2021. The annual decrease was due to the receipt of a one-time upfront payment of $196.0 million from Takeda pursuant to the Royalty, License and Termination Agreement associated with soticlestat in 2021. Revenue in 2022 was generated from licensing and other agreements.Research and development expenses were $5.5 million and $24.6 million for the fourth quarter and for the year ended December 31, 2022, respectively, as compared to $18.1 million and $46.9 million for the same periods in 2021. The annual reduction in expenditures was largely due to cessation of clinical development programs related to gaboxadol and soticlestat, offset by clinical development costs for OV329.General and administrative expenses were $6.7 million and $32.4 million for the fourth quarter and year ended December 31, 2022, as compared to $8.3 million and $37.2 million for the same period in 2021. The annual decrease of $4.8 million was attributed to personnel cost reductions following corporate cost-cutting efforts and headcount reduction conducted in March 2022.Total operating expenses were respectively $12.2 million and $57.1 million in the fourth quarter and year ended December 31, 2022, which were a reduction from $26.4 million and $84.2 million during the same periods last year. The annual decrease was a result of the above mentioned cost cutting and personnel reduction efforts undertaken in 2022.Ovid reported a net loss of $11.5 million, or basic and diluted net loss per share attributable to common stockholders of $0.16 for the fourth quarter of 2022, as compared to a net loss of $26.0 million, or basic and diluted net loss per share attributable to common stockholders of $0.38, for the same period in 2021. The Company reported net loss of $54.2 million, or basic and diluted net loss per share attributable to common stockholders of $0.77 for the year ended December 31, 2022, compared to a net income of $122.8 million, or basic and diluted net income per share attributable to common stockholders of $1.78 and $1.76, respectively, for the year ended December 31, 2021. About Ovid Therapeutics Ovid Therapeutics Inc. is a New York-based biopharmaceutical company striving to conquer seizures and brain disorders with courageous science. Ovid’s pipeline of small molecule and genetic medicines candidates seek to meaningfully improve the lives of people and families affected by epilepsies and seizure-related disorders. Ovid is developing OV329, a GABA-aminotransferase inhibitor, for treatment-resistant seizures, and OV350, a direct activator of the KCC2 transporter, for potential treatment of epilepsies. In addition, Ovid maintains a significant financial interest in the future regulatory development and potential commercialization of soticlestat, which Takeda is responsible for advancing globally. Soticlestat is a cholesterol 24-hydroxylase inhibitor, which is currently in Phase 3 trials for Dravet and Lennox-Gastaut syndromes. For more information about these and other Ovid research programs, please visit www.ovidrx.com. Forward-Looking Statements This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation: statements regarding the Phase 1 study in healthy volunteers for OV329; the potential use of OV329 to treat rare and treatment-resistant forms of epilepsy and seizures; the clinical and regulatory development of OV329, including the anticipated timing of clinical data; the likelihood that data for OV329 will support future development and therapeutic potential; the potential development of OV350 and other KCC2 compounds in Ovid’s library; the suitability of Ovid’s library of novel, direct KCC2 transporter activators for a range of formulations and administrations; the timing for filing of Ovid’s IND applications; the potential benefits of Gensaic’s proprietary phage-derived platform; the timing for the completion of Takeda’s two pivotal Phase 3 trials evaluating soticlestat for Dravet syndrome and Lennox-Gastaut syndrome; and the duration of Ovid’s expectations regarding its cash runway and the expectation that it will support the advancement of Ovid’s pipeline. You can identify forward-looking statements because they contain words such as “anticipates,” “believes,” “expected,” “intends,” “may,” “plan,” “potentially,” “seek,” “strive” 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, risks related to Ovid’s ability to achieve its financial objectives, the risk that Ovid may not be able to realize the intended benefits of its technology or its business strategy, or risks related to Ovid’s ability to identify business development targets or strategic partners, to enter into strategic transactions on favorable terms, or to consummate and realize the benefits of any business development transactions. 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 Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on November 8, 2022, 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. Condensed Consolidated Statements of OperationsUnaudited For The Three MonthsEnded December 31, 2022 For The Three MonthsEnded December 31, 2021 For The Year EndedDecember 31, 2022 For The Year EndedDecember 31, 2021Revenue: License and other revenue$46,280 $— $1,502,748 $12,382,779 License revenue - related party — — — 196,000,000 Total revenue 46,280 — 1,502,748 208,382,779 Operating expenses: Research and development 5,545,269 18,089,614 24,618,399 46,939,583 General and administrative 6,673,710 8,264,050 32,432,510 37,234,104 Total operating expenses 12,218,979 26,353,664 57,050,909 84,173,687 (Loss) income from operations (12,172,699) (26,353,664) (55,548,161) 124,209,092 Other income (expense), net 668,124 3,901 1,379,132 (45,690)Loss before provision for income taxes (11,504,576) (26,349,763) (54,169,029) 124,163,402 Provision for income taxes — (349,714) — 1,328,818 Net (loss) income$(11,504,576) $(26,000,049) $(54,169,029) $122,834,584 Net (loss) income per share, basic$(0.16) $(0.38) $(0.77) $1.78 Net (loss) income per share, diluted$(0.16) $(0.38) $(0.77) $1.76 Weighted-average common shares outstanding, basic 70,472,598 68,159,651 70,424,819 67,479,403 Weighted-average common shares outstanding, diluted 70,472,598 68,159,651 70,424,819 68,067,992 Select Condensed Balance Sheet DataUnaudited December 31, 2022 December 31, 2021Cash, cash equivalents and marketable securities$129,001,411 $187,797,532Working capital(1) 124,389,166 175,680,808Total assets 155,265,814 194,544,757Total stockholder's equity 132,272,564 179,746,436(1)Working capital defined as current assets less current liabilities Contacts Investors and Media:Ovid Therapeutics Inc.Meg Alexander917-943-6681malexander@ovidrx.com OR Investors:Argot PartnersMaeve Conneighton212-596-7231ovid@argotpartners.com