Pfizer completes Biohaven acquisition, spinoff launched
Vlad Coric
Pharmaceutical giant Pfizer Inc. on Monday completed its $11.6 billion acquisition of New Haven’s Biohaven Pharmaceutical Holding Company Ltd., maker of migraine drug Nurtec ODT.
The deal gives Pfizer a portfolio of calcitonin gene-related peptide (CGRP) receptor antagonists, including the migraine drug rimegepant, known as Nurtec ODT in the United States and as Vydura in the European Union.
Pfizer’s portfolio now also includes zavegepant, an intranasal spray for migraine currently under U.S. Food and Drug Administration review. Pfizer also acquired Biohaven’s portfolio of pre-clinical CGRP assets in the deal.
Aamir Malik, Pfizer’s executive vice president, chief business innovation officer, said the success of Nurtec ODT and Biohaven’s CGRP pipeline will strengthen Pfizer’s internal medicine pipeline through the year 2030 and beyond.
“Combined with Pfizer’s global reach, this acquisition increases our potential to bring new treatment options to patients with migraine – a disease which affects over 1 billion people worldwide,” Malik said.
Biohaven became a wholly-owned subsidiary of Pfizer through the acquisition.
A new Biohaven
Meanwhile, Biohaven completed the spin-off of Biohaven Ltd., a new publicly-traded company that launched Tuesday. It retains Biohaven’s non-migraine pipeline, such as its Kv7 ion channel activators, glutamate modulation and myostatin inhibition platforms.
Biohaven Ltd. remains in New Haven with Dr. Vlad Coric leading it as chairman and CEO.
“I am enthusiastic about continuing to lead our team in new, exciting directions as we strive to bring best-in-class therapies to patients for a broad range of diseases with few or no treatment options,” Coric said.
Biohaven Ltd. launched with $258 million in cash, no debt, and 13 clinical and preclinical programs focused on neuroscience and rare disorders, according to an announcement.
The new company will be focused on its treatments for ailments such as obsessive compulsive disorder, spinocerebellar ataxia, epilepsy, pain and mood disorders, and spinal muscular atrophy.
Biohaven’s board of directors remains the same. There have been some changes in leadership roles.
Dr. Irfan Qureshi had been promoted to chief medical officer.
Dr. Tanya Fischer has been appointed chief development officer and head of translational medicine. Fischer previously worked at Alnylam Pharmaceuticals, Sanofi and Bristol Myers Squibb.
Bruce Car joins Biohaven as its new chief scientific officer. Car has nearly three decades of experience in the pharmaceutical industry, including at Bristol Myers Squibb and Dupont.
“Bruce has tremendous experience in drug discovery and development and a passion for addressing unmet needs across multiple therapeutic areas including neuroscience, oncology, immunology and rare diseases,” Coric said.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.
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