Biohaven is engaged in the identification and development of clinical stage compounds targeting the glutamatergic system.
Biohaven obtained licenses from Yale University School of Medicine and Massachusetts General Hospital regarding intellectual property relating to the use of certain glutamate modulating agents in the treatment of neuropsychiatric disorders. The mission of the company is to exploit advances over the past decade in the understanding of glutamate mechanisms involved in a variety of diseases. The company’s first drug candidate is being developed for orphan neurological disorders as well as treatment-resistant anxiety and depression.
Biohaven has assembled a team of experts who have extensive experience in the development of therapeutic agents in this area and also comprise the originators at Yale University who discovered the therapeutic potential of glutamate modulation in anxiety and depression. Team members have designed and executed successful development programs testing a variety of agents in affective disorders, leading to first-cycle FDA approvals and successful commercialization.
Portage acquired a 54% equity share of Biohaven on January 6, 2014. Subsequently, Biohaven has successfully raised several rounds of equity funding from third parties, and as a result, Portage's position in Biohaven was reduced to 35.85% on a fully diluted basis in July 2016. Since then, Biohaven has raised $80 million from third parties, further diluting Portage's position.