Biohaven Licenses Taldefgrobep Alfa, a Phase 3-Ready Anti-Myostatin Adnectin for Spinal Muscular Atrophy (SMA), from Bristol Myers Squibb

Rhea-AI Summary

Biohaven Pharmaceutical announced a worldwide licensing agreement with Bristol Myers Squibb for the development of taldefgrobep alfa, a Phase 3-ready anti-myostatin adnectin targeted at treating Spinal Muscular Atrophy (SMA). This is Biohaven's third license from Bristol Myers Squibb, with the trial expected to commence in 2022. Taldefgrobep aims to enhance muscle mass and strength in patients with neuromuscular diseases, representing a potential breakthrough in treatment strategies. The agreement includes milestone payments and sales-based royalties for Bristol Myers Squibb.

Positive

• In-licensing of taldefgrobep expands Biohaven's portfolio of late-stage product candidates.
• Potential to improve patient outcomes in SMA, addressing a critical medical need.
• Collaboration with Bristol Myers Squibb provides financial incentives through milestone payments and royalties.

Negative

• None.

NEW HAVEN, Conn., Feb. 25, 2022 /PRNewswire/ -- Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) ("Biohaven") announced today that it entered into a worldwide license agreement with Bristol Myers Squibb (NYSE: BMY) for the development and commercialization rights to taldefgrobep alfa, a novel, Phase 3-ready anti-myostatin adnectin. Taldefgrobep is the third development asset licensed to Biohaven from Bristol Myers Squibb and a clinical trial for Spinal Muscular Atrophy (SMA) is expected to begin in 2022.

Myostatin is a natural protein that limits skeletal muscle growth, an important process in healthy muscular development. However, in patients with neuromuscular diseases, active myostatin can critically limit the growth needed to achieve developmental and functional milestones. Myostatin inhibition has potential as a therapeutic strategy for enhancing muscle mass and strength in a range of pediatric and adult neuromuscular conditions.

Taldefgrobep is a muscle-targeted experimental treatment developed for neuromuscular disease and offers the opportunity for combination therapy. As a leader in innovative trials addressing neurodegenerative diseases, Biohaven plans to initiate a Phase 3 clinical trial of taldefgrobep in SMA in 2022. SMA is a rare, progressively debilitating motor neuron disease in which development and growth of muscle mass are compromised, resulting in progressive weakness and muscle atrophy, reduced motor function, impaired quality of life and often death.

Vlad Coric, M.D., Chief Executive Officer and Chairman of the Board of Biohaven stated, "We are extremely excited about the potential for taldefgrobep to improve the lives of patients and families affected by neuromuscular diseases. We believe the development of innovative anti-myostatin therapies designed to enhance muscle mass and strength may represent the next frontier of neuromuscular treatments and will build on the tremendous progress made by existing motor neuron-targeted therapies."

Dr. Coric added, "The in-licensing of this late-stage asset demonstrates Biohaven's commitment to addressing patients' needs, and particularly those suffering from rare neurodegenerative and neuromuscular disorders."

The in-licensing of taldefgrobep expands Biohaven's portfolio of innovative, late-stage product candidates for the treatment of neurologic, neuroinflammatory, and psychiatric indications. Under the terms of the agreement, Biohaven will receive worldwide rights to taldefgrobep and Bristol Myers Squibb will be eligible for regulatory approval milestone payments, as well as tiered, sales-based royalties beginning in the high teens. 

"We are happy to see such great progress with the approvals and the impact of potential genetic treatments for SMA, but our work is not done yet and we need to now find innovative and efficacious therapies that will work in combination to help restore muscle strength and function, especially for older and symptomatic individuals affected by SMA," said Kenneth Hobby, President, Cure SMA.

John Tilton, Chief Commercial Officer, Rare Diseases at Biohaven added, "The addition of taldefgrobep to Biohaven's portfolio of clinical-stage rare disease therapies aligns with our mission to make a meaningful difference in the lives of patients and families affected by devastating conditions with high unmet medical need. We look forward to partnering with the entire SMA community in bringing this potential treatment - and further hope - to people living with SMA."

About Taldefgrobep alfa
Taldefgrobep alfa (also known as BMS-986089) is a modified adnectin designed to specifically bind to myostatin (GDF-8). Adnectins are an established proprietary protein therapeutic class based on human fibronectin, an extracellular protein that is naturally abundant in human serum. The intrinsic properties of an adnectin align with the properties needed to make a successful drug, including high potency, specificity, stability, and favorable half-life.

About Spinal Muscular Atrophy (SMA)
Spinal muscular atrophy (SMA) is a rare genetic neurodegenerative disorder characterized by the loss of motor neurons, atrophy of the voluntary muscles of the limbs and trunk and progressive muscle weakness that is often fatal and typically diagnosed in young children. The underlying pathology of SMA is caused by insufficient production of the SMN (survival of motor neuron) protein, essential for the survival of motor neurons, and is encoded by two genes, SMN1 and SMN2. In the U.S., SMA affects approximately 1 in 11,000 births, and about 1 in every 50 Americans is a genetic carrier.

About Biohaven
Biohaven is a commercial-stage biopharmaceutical company with a portfolio of innovative, best-in-class therapies to improve the lives of patients with debilitating neurological and neuropsychiatric diseases, including rare disorders. Biohaven's Neuroinnovation™ portfolio includes FDA-approved NURTEC® ODT (rimegepant) for the acute treatment of migraine and a broad pipeline of late-stage product candidates across three distinct mechanistic platforms: CGRP receptor antagonism for the acute and preventive treatment of migraine; glutamate modulation for obsessive-compulsive disorder, Alzheimer's disease, and spinocerebellar ataxia; and MPO inhibition for amyotrophic lateral sclerosis. 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", "may" and "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 management about taldefgrobep as treatment for patients with neuromuscular disease. These forward-looking statements involve substantial risks and uncertainties, including statements regarding the future development, timing and potential regulatory submissions and commercialization of taldefgrobep. 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 the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2021 and Biohaven's subsequent filings with the Securities and Exchange Commission. 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.

NURTEC and NURTEC ODT are registered trademarks of Biohaven Pharmaceutical Ireland DAC.
Neuroinnovation is a trademark of Biohaven Pharmaceutical Holding Company Ltd.

Biohaven Contacts

Investor Relations
Jen Porcelli, VP, Investor Relations
Biohaven Pharmaceuticals
jennifer.porcelli@biohavenpharma.com
+1 (201) 248-0741

Media
Mike Beyer, Media Relations Counselor
Sam Brown Inc.
mikebeyer@sambrown.com
+1 (312) 961-2502

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SOURCE Biohaven Pharmaceutical Holding Company Ltd.

FAQ

What is the significance of the licensing agreement between Biohaven and Bristol Myers Squibb?

The agreement allows Biohaven to develop taldefgrobep alfa, a therapy for Spinal Muscular Atrophy, enhancing their portfolio and addressing a major unmet medical need.

When will the clinical trial for taldefgrobep alfa begin?

The Phase 3 clinical trial for taldefgrobep is expected to begin in 2022.

What are the financial terms of the Biohaven and Bristol Myers Squibb agreement?

Bristol Myers Squibb may receive regulatory milestone payments and tiered sales royalties starting in the high teens.

How could taldefgrobep alfa impact patients with Spinal Muscular Atrophy?

Taldefgrobep aims to enhance muscle mass and strength, potentially improving the quality of life for patients suffering from this debilitating disease.