Issue Date: April 17, 2017
Biohaven, Ovid try to go public
Two biotech companies developing compounds brought in from larger firms are attempting to go public. Biohaven Pharmaceutical aims to raise $100 million in an initial public offering. The funds will support Phase III studies of rimegepant, a migraine treatment licensed from Bristol-Myers Squibb, and earlier-stage studies of compounds for spinocerebellar ataxia and Rett syndrome. Meanwhile, Ovid Therapeutics hopes its IPO will bring in $86 million to fund R&D, including several studies of OV101, a rare-disease drug licensed from Lundbeck.
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