BioShin, Biohaven's Asia-Pacific Subsidiary, Raises $60M in Series A Funding to Advance Neuroscience Pipeline in Asia-Pacific Region

BHVN-Raises-$60M-Fund

<br /> BioShin, Biohaven’s Asia-Pacific Subsidiary, Raises $60M in Series A Funding to Advance Neuroscience Pipeline in Asia-Pacific Region<br />

– Initiating NURTEC ODT Phase 3 study for acute migraine in China and Korea, and China registrational study of troriluzole in Spinocerebellar Ataxia in 4Q20

– Named Donnie McGrath as BioShin President and Executive Chairman, and Karl Lintel as BioShin Chief Executive Officer; Appointed Vlad Coric and Donnie McGrath of Biohaven, and David Wang of OrbiMed to Board of Directors

PR Newswire

NEW HAVEN, Conn. and SHANGHAI, Sept. 28, 2020

NEW HAVEN, Conn.

and

SHANGHAI

,

Sept. 28, 2020

/PRNewswire/ — 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 Series A funds will be used to build out BioShin in

China

and advance the Biohaven clinical portfolio in the

Asia-Pacific

region, including the imminent start of the NURTEC™ ODT (rimegepant) Phase 3 study for the acute treatment of migraine in

China

and Korea. BioShin also plans to initiate sites in

China

to participate in the global registrational trial of troriluzole in Spinocerebellar Ataxia (SCA). BioShin expects to begin both

Asia-Pacific

studies in the fourth quarter of 2020. BioShin has rights to the Biohaven portfolio for the entire

Asia-Pacific

region excluding

Japan

. After the transaction, Biohaven remains the majority shareholder of BioShin.

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.”

David Wang

, MD, PhD, Partner at OrbiMed Asia, commented, “We are excited about the potential of Biohaven’s product portfolio in

China

and the broader

Asia

region. We look forward to seeing continued progress by Donnie, Karl and the rest of the impressive team Biohaven has put together to help patients here in

Asia

.”

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.

About BioShin

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.

About Biohaven

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. More information about Biohaven is available at

www.biohavenpharma.com

Forward-Looking Statements

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The use of certain words, including “believe”, “continue”, “may”, “will” and similar expressions, are intended to identify forward-looking statements. These forward-looking statements involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of Biohaven’s or BioShin’s management about rimegepant, zavegepant, or any of its glutamate products. Factors that could affect these forward-looking statements include those related to: Biohaven’s ability to effectively commercialize rimegepant, or any other product, in the

Asia Pacific

region, delays or problems in the supply or manufacture of product, complying with applicable U.S. regulatory requirements or requirements in the

Asia Pacific

region, the expected timing, commencement and outcomes of Biohaven’s planned and ongoing clinical trials, the timing of planned interactions and filings with the FDA or regulatory authorities in the

Asia Pacific

region, the timing and outcome of expected regulatory filings, the potential commercialization of Biohaven’s product candidates, the potential for Biohaven’s product candidates to be first in class or best in class therapies and the effectiveness and safety of Biohaven’s product candidates. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by our forward-looking statements. Additional important factors to be considered in connection with forward-looking statements are described in the “Risk Factors” section of Biohaven’s Annual Report on Form 10-K for the year ended

December 31, 2019

, filed with the Securities and Exchange Commission on

February 26, 2020

and Biohaven’s Quarterly Report on Form 10-Q for the quarter ended

June 30, 2020

filed with the Securities and Exchange Commission on

August 10, 2020

. The forward-looking statements are made as of this date and Biohaven does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.