New Haven: Three executives from pharma giant Bristol Myers Squibb [NYSE: BMY] are finding new homes at two affiliated New Haven biotech companies. Biohaven [NYSE: BHVN] which went public two months ago with a $168 million IPO has hired two former BMY execs for key leadership positions as the company continues to move forward on developing its diverse portfolio of drugs.
|Manion: new CEO at KLEO|
|Stock: appointed head of Portfolio Strategy and Development at Biohaven|
|McGrath: Chief of Corporate Strategy and Business Development, Biohaven.|
Elyse Stock, M.D. has been appointed as the company's Chief of Portfolio Strategy and Development, and St. John (Donnie) McGrath, M.D. has been appointed as Chief of Corporate Strategy and Business Development.
Douglas Manion, M.D., FRCP(C), as the new CEO of Kleo Pharmaceuticals. Manion has most recently served as SVP head of specialty development at BMS. Kleo's lead investor is Biohaven.
David Spiegel, M.D., Ph.D. co-founder of Kleo who’s technology is based on the work of his lab at Yale University, was himself appointed CEO this past September soon after the investment led by Biohaven.
Stock was most Vice-President Global Development Leader at Bristol-Myers Squibb (BMS), where she worked for the last 19 years in various positions “developing numerous investigational agents across multiple therapeutic areas including neuroscience, oncology, immunology and cardiovascular disease.”
McGrath, served as Vice President of Business Development and Head of Search & Evaluation. was responsible for overseeing BMS' venture capital investment portfolio and provided leadership for all global external partnering activities.
On July 6 Biohaven announced that the FDA awarded BHV-5000, an “investigational compound” for the treatment for patients with Rett syndrome with Orphan Drug Status. This is the company's fourth product candidate to receive orphan drug designation from the FDA.
According to the company, Rett syndrome is a rare and severe genetic neurodevelopmental disorder affecting females almost exclusively. Symptoms emerge from six to 18 months of age after apparently normal post-natal development. Patients with Rett syndrome develop global deceleration of psychomotor function, loss of acquired cognitive skills (such as language and purposeful hand movement) as well as brain-mediated episodes of transient respiratory suppression. Patients may survive into adulthood, yet they are severely physically and cognitively impaired. Rett syndrome affects approximately 15,000 individuals in the United States. No approved drug therapies for Rett syndrome are currently available and care is supportive.