Biohaven Pharmaceutical Acquisition, Valuation, Funding & Investors

Biohaven Pharmaceutical was acquired by Pfizer for $13B in May 2022.

Biohaven Pharmaceutical acquisition price

$13B

Acquired by Pfizer · May 2022

Cumulative funding Biohaven Pharmaceutical raised

$100M

across 2 funding rounds

Key investors in Biohaven Pharmaceutical

  • RA Capital Management
  • Venrock
  • Connecticut Innovations
  • OUP (Osage University Partners)
  • Vivo Capital
  • Rock Springs Capital
  • Aisling Capital
  • Aperture Venture Partners

Biohaven Pharmaceutical Overview

About Biohaven Pharmaceutical

Biohaven Pharmaceutical is a biopharmaceutical company advancing therapies for neurological disorders including migraine and epilepsy. Headquartered in New Haven, Connecticut, the firm developed rimegepant, approved as Nurtec ODT for acute migraine treatment in the United States and Europe. Biohaven's pipeline features calcitonin gene-related peptide antagonists and glutamate modulators targeting rare epilepsies and ataxia. Acquired by Pfizer in 2022, it operates global clinical programs.


Founded

2013

HQ

United StatesNew Haven, CT

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$13B (acquired May 2022)

Biohaven Pharmaceutical Acquisition

Biohaven Pharmaceutical was acquired by Pfizer for $13B on 10 May 2022.

Before the acquisition Biohaven Pharmaceutical had raised $100M across 2 funding rounds.

Biohaven Pharmaceutical acquisition details
AcquirerDateTypePrice
10 May 2022Strategic M&A$13B

Biohaven Pharmaceutical Funding History

Biohaven Pharmaceutical has raised a total of $100M across 2 funding rounds.

Biohaven Pharmaceutical's first fundraising round was a $80M undisclosed-stage round in November 2016. The most recent completed round was a $20M undisclosed-stage round in March 2017.

Biohaven Pharmaceutical funding rounds

Biohaven Pharmaceutical funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2017Undisclosed stage-$20MBiohaven Pharmaceutical closed a Series A preferred financing in February 2017 with a second tranche of $40 million, bringing the total Series A proceeds to $80 million in gross funding. In May 2017, the company completed an initial public offering, raising $193.5 million in gross proceeds with net proceeds of $176.4 million after underwriting costs. By July 2017, Biohaven was a publicly traded company and no longer a private VC-backed entity. The company's pipeline included trigriluzole for spinocerebellar ataxia, which received FDA Fast Track Designation, and glutamate modulation platform candidates including lanicemine and BHV-5000, which were in-licensed from AstraZeneca.
Nov 2016Undisclosed stageVenrock (lead); Knoll Capital Management; John W. Childs; Aperture Venture Partners; Litmore Capital; Connecticut Innovations; Vivo Capital; Rock Springs Capital; RA Capital Management; Greg Bailey; Aisling Capital; OUP (Osage University Partners)$80M-

Who has invested in Biohaven Pharmaceutical?

12 investors have backed Biohaven Pharmaceutical across its funding rounds, including RA Capital Management, Venrock, Connecticut Innovations, OUP (Osage University Partners), Vivo Capital and Rock Springs Capital.

Lead investors include Venrock.


Biohaven Pharmaceutical Investors

Investors in Biohaven Pharmaceutical by funding rounds participated
InvestorHQRoundsRoleFirst check
Knoll Capital Management--1ParticipantNov 2016
John W. ChildsUnited StatesBoston, MA1ParticipantNov 2016
Aperture Venture PartnersUnited StatesNew York City, NY1ParticipantNov 2016
Litmore Capital--1ParticipantNov 2016
Connecticut InnovationsUnited StatesHartford, CT1ParticipantNov 2016
Vivo CapitalUnited StatesUnited States1ParticipantNov 2016
VenrockUnited StatesSan Francisco, CA1LeadNov 2016
Rock Springs CapitalUnited StatesBaltimore, MD1ParticipantNov 2016
RA Capital ManagementUnited StatesBoston, MA1ParticipantNov 2016
Greg BaileyUnited KingdomLondon1ParticipantNov 2016

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Biohaven Pharmaceutical

Biohaven Pharmaceutical has acquired 2 companies to date.

Last acquisition by Biohaven Pharmaceutical was on February 25th 2022. Biohaven Pharmaceutical acquired Channel Biosciences for $3B.


Latest Acquisitions by Biohaven Pharmaceutical

Channel Biosciences
Kleo
Description
Channel Biosciences develops the Kv7 ion channel platform targeting epilepsy and neurologic disorders. The San Diego-based company advances small-molecule activators through preclinical stages, partnering with academic institutions for compound validation. Its lead candidates modulate neuronal excitability for treatment-resistant conditions.
Kleo is a biopharmaceutical company developing Antibody Recruiting Molecules and Synthetic Antibody Mimics for cancer and infectious diseases. Headquartered in Cambridge, Massachusetts, its ARMs platform redirects endogenous antibodies to degrade tumor cells, while SyAMs mimic antibody functions orally. Founded in 2015, Kleo advances candidates like KPM-1 for solid tumors through preclinical stages with partnerships including Takeda.
HQ CountryUnited StatesUnited States
HQ City
Pittsburgh, PA
New Haven, CT
Deal Date25 Feb 20227 Jan 2021
Valuation$3B$35M
EV/Revenue
EV/EBITDA

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Investments by Biohaven Pharmaceutical

Biohaven Pharmaceutical has invested in 2 companies to date.

Latest investment by Biohaven Pharmaceutical was on March 1st 2021. Biohaven Pharmaceutical invested in Artizan Biosciences in their $19M Series A round.


Latest Investments by Biohaven Pharmaceutical

Artizan Biosciences
Kleo
Description
Artizan Biosciences is a Durham-headquartered immunotherapy company developing microbial ecosystem therapeutics for inflammatory bowel diseases like Crohn's and ulcerative colitis. Its platform engineers Clostridia strains to modulate immune responses, with AB-301 in Phase 1 trials funded by $60 million Series A.
Kleo is a biopharmaceutical company developing Antibody Recruiting Molecules and Synthetic Antibody Mimics for cancer and infectious diseases. Headquartered in Cambridge, Massachusetts, its ARMs platform redirects endogenous antibodies to degrade tumor cells, while SyAMs mimic antibody functions orally. Founded in 2015, Kleo advances candidates like KPM-1 for solid tumors through preclinical stages with partnerships including Takeda.
HQ CountryUnited StatesUnited States
HQ City
New York City, NY
New Haven, CT
Deal Date1 Mar 202114 Nov 2018
RoundSeries ASeries B
Raised$19M$21M
InvestorsElm Street Ventures; Connecticut Innovations; Hatteras Venture Partners; OUP (Osage University Partners)PeptiDream
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Biohaven Pharmaceutical Competitors

Biohaven Pharmaceutical competitors include listed companies like Alteogen, CSPC Pharma Group, BridgeBio Pharma and Orion, and private ones like Biosplice Therapeutics and Biocon Biologics.

Public and private companies comparable to Biohaven Pharmaceutical
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AlteogenSouth KoreaSouth KoreaPublicly listed$157M$122M$13B42.1x
CSPC Pharma GroupChinaChinaPublicly listed$3.9B$904M$13B2.3x
BridgeBio PharmaUnited StatesUnited StatesPublicly listed$502M($569M)$13B17.1x
OrionFinlandFinlandPublicly listed$2.2B$785M$13B5.6x
Biosplice TherapeuticsUnited StatesSan Diego, CAPrivate--$12B-
Biocon BiologicsIndiaBangalorePrivate$1.1B-$4.5B4.2x

Biohaven Pharmaceutical Public Comps

Biohaven Pharmaceutical is no longer listed, but its public comps include Alteogen, CSPC Pharma Group, BridgeBio Pharma, Orion, BioMarin Pharmaceutical, Sino Biopharmaceutical, Halozyme Therapeutics, Recordati, Corcept Therapeutics and Madrigal Pharmaceuticals.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Alteogen$157M$122M79.9x42.1x102.6x65.1x
CSPC Pharma Group$3.9B$904M2.7x2.3x11.6x6.8x
BridgeBio Pharma$502M($569M)29.8x17.1x(26.3x)(36.3x)
Orion$2.2B$785M6.1x5.6x16.8x15.1x
BioMarin Pharmaceutical$3.2B$498M4.9x4.3x32.0x17.7x
Sino Biopharmaceutical$4.7B$1.1B2.7x2.5x11.5x8.5x
Halozyme Therapeutics$1.4B$496M10.3x8.4x28.9x13.6x
Recordati$3B$1B4.9x4.6x14.3x12.5x

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Common questions about Biohaven Pharmaceutical

When was Biohaven Pharmaceutical founded?Biohaven Pharmaceutical was founded in 2013.
Where is Biohaven Pharmaceutical headquartered?Biohaven Pharmaceutical is headquartered in New Haven, CT, United States.
Is Biohaven Pharmaceutical publicly listed?No, Biohaven Pharmaceutical was acquired by Pfizer in May 2022.
Who acquired Biohaven Pharmaceutical?Biohaven Pharmaceutical was acquired by Pfizer in May 2022.
How much was Biohaven Pharmaceutical acquired for?Biohaven Pharmaceutical was acquired for $13B in May 2022.
How much funding has Biohaven Pharmaceutical raised?Biohaven Pharmaceutical has raised $100M across 2 funding rounds.
What was Biohaven Pharmaceutical's last funding round?Biohaven Pharmaceutical's last funding round was a $20M undisclosed-stage round in March 2017.
Who are Biohaven Pharmaceutical's investors?Biohaven Pharmaceutical's investors include Knoll Capital Management, John W. Childs, Aperture Venture Partners, Litmore Capital, Connecticut Innovations, Vivo Capital, Venrock, Rock Springs Capital, RA Capital Management, Greg Bailey and 2 others.
Which companies are comparable to Biohaven Pharmaceutical?Companies comparable to Biohaven Pharmaceutical include Alteogen, CSPC Pharma Group, BridgeBio Pharma, Orion, Biosplice Therapeutics and Biocon Biologics.
How many companies has Biohaven Pharmaceutical acquired?Biohaven Pharmaceutical has acquired 2 companies, including Channel Biosciences and Kleo.
What was the largest acquisition by Biohaven Pharmaceutical?The $3B acquisition of Channel Biosciences in February 2022 is the largest acquisition Biohaven Pharmaceutical has made to date.
How many companies has Biohaven Pharmaceutical invested in?Biohaven Pharmaceutical has invested in 2 companies, including Artizan Biosciences and Kleo.
What was Biohaven Pharmaceutical's last investment?In March 2021, Biohaven Pharmaceutical invested in Artizan Biosciences' $19M Series A alongside Elm Street Ventures, Connecticut Innovations, Hatteras Venture Partners and 1 other investor.

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