ASX-listed biopharma Opthea Limited has named Ovid Therapeutics founder and chief executive Dr Jeremy Levin as its new chairman.

Dr Levin, who concurrently chairs the Biotechnology Innovation Organisation, the largest trade organisation in the world that represents the biotechnology industry, will replace outgoing chair Geoffrey Kempler at the firms annual general meeting on October 13.

Opthea said Dr Levins track record and experience in the biotechnology and pharmaceutical industry will be instrumental as the company advances its Phase 3-ready product candidate, OPT-302, for the treatment of wet age-related macular degeneration and diabetic macular edema conditions.

Prior to founding Ovid, the South African-born Dr Levin was president and chief executive of Teva Pharmaceutical Industries Ltd and before Teva, was a member of the executive committee of Bristol-Myers Squibb Company.

He has served on the board of directors of various public and private biopharmaceutical companies, including Biocon Ltd and is currently on the board of directors of Lundbeck.

Shares in Opthea were 0.7 per cent lower at $2.81 at 11am against a 2 per cent rise for the ASX200. The companys share price has dipped 5.7 per cent in 2020. The wider index has fallen 11.5 per cent.

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