Biohaven Acquires Option To License Biologic Investigational Agent For Inflammatory And Autoimmune Diseases From The University of Connecticut
Novel anti-metallothionein antibody, UC1MT, has the potential to become a first-in-class treatment for a range of inflammatory and autoimmune disorders
NEW HAVEN, Conn., Oct. 9, 2018 /PRNewswire/ -- Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) announced today that it signed an exclusive, worldwide option and license agreement with the University of Connecticut for the development and commercialization rights to UC1MT, a therapeutic antibody targeting extracellular metallothionein (MT). Extracellular MT has been implicated in the pathogenesis of autoimmune and inflammatory diseases. Under this agreement, Biohaven has the option to acquire an exclusive, worldwide license to UC1MT and its underlying patents to develop and commercialize throughout the world in all human indications.
The antibody was discovered in the laboratory of Professor Michael Lynes, Head of the Department of Molecular & Cell Biology, at the University of Connecticut Storrs. Professor Lynes is a world leader in the study of metallothioneins and their role in disease. Biohaven and the University of Connecticut also signed a Sponsored Research Collaboration Agreement to support the ongoing exploration of the role of MT in human disease.
Vlad Coric, M.D., CEO of Biohaven, commented, "We are very excited about this opportunity to potentially expand our portfolio with the addition of this novel antibody and assess its activity in a range of diseases, including neuro-inflammatory disorders. The pre-clinical discovery work by Professor Lynes at the University of Connecticut, and his collaborators at the Ghent University and the Joslin Diabetes Center, an affiliate of Harvard Medical School, suggests that metallothionein can have dramatic influences on the modulation of both innate and adaptive immunity. We look forward to further evaluating this antibody and potentially advancing it into the clinic."
Professor Lynes commented, "This agreement represents a critical next step for my research group, as it helps define the path for taking our basic research discoveries into the clinic. The expertise that Biohaven Pharmaceuticals brings to my research team has been invaluable in advancing this goal. I believe we have an exciting opportunity to develop this new approach to the management of important inflammatory and autoimmune diseases where metallothionein plays a significant role."
MTs are a family of low molecular weight, cysteine-rich, metal-binding proteins that have a wide range of functions in cellular homeostasis and immunity. MT has traditionally been considered to be an intracellular protein that can be found in both the cytoplasm and nucleus; however, MT also can be found in extracellular spaces, particularly in disease states involving chronic cellular stress where intracellular MT production is upregulated by inflammatory cytokines, and extracellular MT acts as a danger signal, attracting leukocytes and modulating the immune response. In pre-clinical studies, UC1MT has been observed to block this extracellular pool of MT and the resulting MT-mediated inflammation and immunomodulation.
"We are looking forward to this partnership as we see great potential for this novel mechanism in inflammation. We intend to capitalize on our strong development experience and the deep scientific expertise of Dr. Lynes' team to rapidly advance innovative therapies to patients," stated Clifford Bechtold, Chief Operating Officer and Head of Biologic Development at Biohaven. Mr. Bechtold has previous pharmaceutical industry experience in optimizing biologics development and manufacturing capabilities.
This option builds upon Biohaven's portfolio of innovative, clinical-stage product candidates for the treatment of neurodegenerative, neurologic and neuropsychiatric disease indications. Under the terms of the agreement, Biohaven paid an upfront option fee and, if Biohaven exercises its option to in-license the program, the University of Connecticut will receive additional license fees and will be entitled to low single-digit percentage royalties based on net sales of any commercialized products as well as milestone payments based on the achievement of development, regulatory and commercial milestones.
Biohaven is a clinical-stage biopharmaceutical company with a portfolio of innovative, late-stage product candidates targeting neurological diseases. Biohaven combines internal development and research with intellectual property licensed from companies and institutions including Bristol-Myers Squibb Company, AstraZeneca, Yale University, Catalent, ALS Biopharma LLC and Massachusetts General Hospital. Currently, Biohaven's lead development programs include multiple compounds across its CGRP receptor antagonist, glutamate modulation, and myeloperoxidase-inhibitor platforms. More information about Biohaven is available at www.biohavenpharma.com.
About the University of Connecticut
The University of Connecticut (UConn) is one of the top 25 public research universities in the nation and is a research leader in the fields of genomics, advanced materials, cell biology, cardiovascular research, additive manufacturing, biomedical devices, cybersecurity and nanotechnology. Department of Molecular and Cell Biology faculty members are active in many of these areas of cutting edge research, and the department is a focal point for both graduate and undergraduate education in these fields. As Connecticut's flagship institution of higher education, UConn serves as an important resource for Connecticut economic development and is dedicated to building collaborations with industry and entrepreneurs.
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company's management. All statements, other than statements of historical facts, included in this press release, including the Company's potential exercise of its option to license UC1MT, the Company's plans for the clinical development and potential regulatory approval and commercialization of UC1MT, the potential for UC1MT to be an effective treatment, and potentially a first-in-class treatment, for autoimmune or inflammatory diseases and the potential benefits of targeting MT in the treatment of autoimmune and inflammatory diseases are forward-looking statements. The use of certain words, including "potential", "believe", "could", "expect", "may" and "will" and similar expressions are intended to identify forward-looking statements. The Company may not actually achieve the plans and objectives disclosed in the forward-looking statements and you should not place undue reliance on the Company's forward-looking statements. 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, including uncertainties relating to the future clinical success of UC1MT, and whether the results observed in pre-clinical studies of UC1MT will be observed in future clinical trials. Additional important factors to be considered in connection with forward-looking statements are described in the "Risk Factors" section of the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 14, 2018. The forward-looking statements are made as of this date and the Company 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.
Dr. Vlad Coric, the Chief Executive Officer, Biohaven
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Company Codes: NYSE:BHVN