Biohaven Pharmaceutical Holding Company Ltd. was a biopharmaceutical company founded in 2014 in New Haven, Connecticut. It focused on discovering, developing, and commercializing treatments for debilitating diseases, particularly in neuroscience, immunology, and oncology. The company aimed to bring innovative therapies to patients with limited or no existing treatment options.
Key Therapeutic Areas and Products
Biohaven Pharmaceutical focused on neurology, especially migraine treatment, by developing calcitonin gene-related peptide (CGRP) receptor antagonists. CGRP is a protein involved in migraine pathophysiology, with levels increasing during attacks.
Nurtec ODT (rimegepant), an orally dissolving tablet, was a key product. The U.S. Food and Drug Administration (FDA) approved Nurtec ODT in February 2020 for acute migraine treatment in adults. In May 2021, it was approved for preventive treatment of episodic migraine, making it the only oral CGRP receptor antagonist indicated for both acute and preventive use. A single 75 mg dose could provide rapid pain relief and sustained efficacy for up to 48 hours.
Biohaven also developed zavegepant, an intranasal CGRP receptor antagonist. This nasal spray offered an alternative for quick pain relief or for those unable to take oral medications due to nausea or vomiting. Beyond migraine, Biohaven explored other neurological areas, including product candidates for obsessive-compulsive disorder (OCD) and Alzheimer’s disease through their glutamate modulation platform.
Research and Development Approach
Biohaven’s research and development strategy focused on identifying unmet medical needs and advancing novel treatments across various platforms. They built a pipeline of early and late-stage product candidates.
Beyond CGRP receptor antagonism, Biohaven pursued Kv7 ion channel modulation for epilepsy and neuronal hyperexcitability. They also explored glutamate modulation for conditions like obsessive-compulsive disorder and spinocerebellar ataxia, and myeloperoxidase (MPO) inhibition for amyotrophic lateral sclerosis (ALS) and multiple system atrophy.
Transition to Pfizer
A significant corporate event was Biohaven’s acquisition by Pfizer Inc., completed in October 2022. Pfizer acquired all outstanding shares for $148.50 per share in cash, totaling approximately $11.6 billion. This acquisition gave Pfizer full rights to Biohaven’s CGRP portfolio, including Nurtec ODT and zavegepant.
Pfizer’s strategic rationale was to strengthen its internal medicine pipeline and expand its presence in the migraine market. Immediately prior to the acquisition’s closing, Biohaven spun off its non-CGRP assets into a new, independent publicly traded company, Biohaven Ltd. This new entity retained Biohaven’s other development-stage compounds, such as those from its Kv7 ion channel activators, glutamate modulation, and myostatin inhibition platforms, and continues to focus on neurological and rare disorders.