Biohaven Announces Formation of Bioshin

Biohaven has advanced the formation of a wholly owned subsidiary, BioShin, a Shanghai based limited liability company, to develop and commercialize its late-stage migraine and neurology portfolio in China and other Asia-Pacific markets.

Biohaven's Chief of Corporate Strategy and Business Development, Donnie McGrath, M.D., has been appointed Chief Executive Officer of the new subsidiary which will be based in Shanghai. Previously, Dr. McGrath was Vice-President of Business Development and Head of Global Search and Evaluation at Bristol-Myers Squibb (BMS). His responsibilities involved overseeing BMS' venture fund investment program, including investments in Asia. Additional executive leaders appointed include Karl Lintel, M.D., Chief Operating Officer, Zoey Wang, M.D., General Manager, and Elaine Hawkings, MSc, Head of Clinical Operations. BioShin plans to submit its first Investigational New Drug (IND) application to the China Food and Drug Administration (CFDA) before the end of 2018.

"Central nervous system disorders represent a major economic and health burden to all global societies. For example, it is estimated that almost 90 million individuals in China alone suffer from migraine and we believe that some of these individuals could benefit from new treatment options such as rimegepant and BHV-3500, if they are approved," said Vlad Coric, M.D., CEO of Biohaven. "I am very excited to have Donnie and the new team build BioShin to translate our late-stage development efforts in neurologic diseases to a clinical program that could benefit patients in Asia and throughout the region. Biohaven's newly formed Asia-Pacific subsidiary represents our commitment to addressing patient needs across the globe."

Neurologic and neuropsychiatric diseases in China remain a significant unmet medical need. Chinese patients may account for up to about 20% of all Alzheimer's disease cases worldwide, and the number of patients with Alzheimer's disease in China is estimated to reach approximately 16 million by 2030. Other degenerative neurologic diseases that may be increasingly diagnosed in the future include Parkinson's Disease, Amyotrophic Lateral Sclerosis, Spinocerebellar Ataxia and Multiple System Atrophy. About 2-3% of the general population may suffer from Obsessive-Compulsive Disorder, and up to 5% can have Generalized Anxiety Disorder. Major Depressive Disorder may affect 3-4% of the population, and more than 20% of those patients could progress to Treatment Resistant Depression when diagnosed and treated.

"I am very excited about the potential of Biohaven's product development portfolio in China, and Asia more broadly," said Donnie McGrath, M.D., CEO of BioShin. "An abundance of recent developments in China, including changes in the regulatory landscape, a new rare-disease policy, and multiple alternatives available to finance the company makes forming an Asia-Pacific subsidiary an attractive option as we seek to rapidly advance our product candidates in the Asia-Pacific market. I believe that the positive data from Biohaven's Phase 3 program for rimegepant, and the potential of our other late-stage product candidates, has enabled BioShin to attract the top talent we need to execute on our strategy in Asia."

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