Sept. 29.2020, Shanghai
Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN, "Biohaven") announced today that BioShin Limited ("BioShin") its Asia-Pacific Subsidiary, has closed a $60M Series A investment round. The financing was led by OrbiMed, with participation from Cormorant Asset Management LLC, HBM Healthcare Investments Ltd, Surveyor Capital (a Citadel Company), and Suvretta Capital Management, LLC.
The company named Donnie McGrath as BioShin President and Executive Chairman, and Karl Lintel as BioShin Chief Executive Officer. Also appointed Vlad Coric and Donnie McGrath of Biohaven, and David Wang of OrbiMed to Board of Directors.
Currently, BioShin is initiating NURTEC ODT Phase 3 study for acute migraine in China and Korea, and China registrational study of troriluzole in Spinocerebellar Ataxia in 4Q20.
Donnie McGrath MD, President and Executive Chairman of BioShin, stated, "This investment marks an important partnership between Biohaven and these leading investors to advance Biohaven's innovative product candidates to patients in the Asia-Pacific region. BioShin now has the funding to independently advance the lead pipeline assets without relying upon Biohaven to fund these efforts in Asia-Pacific. Migraine, neurologic and neuropsychiatric diseases represent a significant medical and social burden in the Asia-Pacific region, and we are pleased to be joined by several renowned investors who support our shared vision of advancing the Biohaven portfolio in the region."
Karl Lintel has been appointed as Chief Executive Officer of BioShin, from his current role of Chief Operating Officer. Previous to BioShin, Lintel served as the President and General Manager China of Bristol-Myers Squibb from 2014 to 2018 and VP/General Manager of BMS Middle East and Africa from 2010 to 2014. From 1989 to 2010, he worked in a variety of roles within Pfizer Inc. across Asia, the Middle East, Europe and Global headquarters.
BioShin also announces its Board of Directors to include Donnie McGrath, Chief of Corporate Strategy and Business Development at Biohaven, to serve as the Executive Chairman, joined by Vlad Coric (CEO of Biohaven) and David Wang MD, PhD (Partner, OrbiMed).
Cooley LLP acted as counsel for the Series A investors. Locke Lord LLP acted as counsel for Biohaven.
BioShin Limited, a privately-held biopharmaceutical company with offices in Shanghai, is advancing the Biohaven clinical portfolio in the Asia-Pacific region. BioShin holds rights to the Biohaven portfolio for all of the Asia-Pacific Region, including Australia and New Zealand, excluding Japan. Biohaven is a majority shareholder in BioShin.
Biohaven is a clinical-stage biopharmaceutical company with a portfolio of innovative, late-stage product candidates targeting neurological diseases, including rare disorders. Biohaven has combined internal development and research with intellectual property licensed from companies and institutions including Bristol-Myers Squibb Company, AstraZeneca AB, Yale University, Catalent, Rutgers and ALS Biopharma LLC and. Our progress is fueled by an entrepreneurial organizational structure and an impressive range of experience in drug development along with the confident support of top-tier biopharma investors. Currently, Biohaven's lead development programs include multiple compounds across its CGRP receptor antagonist and glutamate modulator platforms. Biohaven's common shares are listed on the New York Stock Exchange and traded under the ticker symbol BHVN.