Biohaven Pharmaceutical Holding Company, a Yale University spinoff formed, in part, by researchers with the Yale Department of Psychiatry, has received $80 million in private financing to continue its drug development research.
The round of financing was led by Venrock and other leading biotech investors, including RA Capital Management, Vivo Capital, Aisling Capital, Rock Springs Capital, John W. Childs, Knoll Capital Management, Osage University Partners, Aperture Venture Partners, Connecticut Innovations, Greg Bailey and Litmore Capital.
“We are pleased to welcome these new investors as partners in our company and our mission to bring novel treatments to patients suffering from unmet medical needs,” said Vladimir Coric, MD, president of the Yale Department of Psychiatry Alumni Association and CEO at Biohaven. “With this financing, we have a strong financial foundation from which we can develop our late stage clinical pipeline and advance new therapies into clinical trials.”
Proceeds from the financing will enable the company to proceed with clinical trials of its second molecular compound, BHV-4157, for neurodegenerative and psychiatric disorders and potentially for the treatment of cancer. The company has also developed BHV-0223, a treatment for amyotrophic lateral sclerosis (ALS), or Lou Gehrig’s disease.
Based in New Haven, Biohaven counts among its founders John H. Krystal, MD, Robert L. McNeil, Jr. Professor of Neuroscience and Chair of the Yale Department of Psychiatry; and Gerard Sanacora, MD, PhD, professor of psychiatry. Both researchers serve on the company’s Scientific Advisory Board.