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Biohaven Stock Stumbles As Protein-Degrading Drug Falls Short Of Expectations In Early-Stage Study

Biohaven Stock Stumbles As Protein-Degrading Drug Falls Short Of Expectations In Early-Stage Study
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Biohaven Acquires Kleo Pharmaceuticals And Licenses Platform Technology From Yale University To Form Biohaven Labs


Published: Jan 07, 2021
 
NEW HAVEN, Conn., Jan. 7, 2021 /PRNewswire/  Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN; the Company or Biohaven ) today announced the acquisition of the remaining 58% interest of Kleo Pharmaceuticals, Inc. ( Kleo ) that it did not previously own and the execution of an exclusive license agreement with Yale University for a novel extracellular degrader technology licensed from the Spiegel Lab. In connection with these two transactions, Biohaven assumed Kleo s laboratory facilities located in Science Park in New Haven, Connecticut and formed Biohaven Labs to serve as the integrated chemistry and discovery research arm of Biohaven. Biohaven Labs will continue several existing Kleo discovery partnerships, including with the Bill and Melinda Gates Foundation for the development of a Hyperimmune Globulin Mimic (HGM) for COVID-19 and PeptiDream for the development of immuno-oncology therapeutics. ....

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