NewHavenBIZ

4 n e w h a v e n B I Z | J u n e 2 0 2 2 | n e w h a v e n b i z . c o m Pfizer to acquire New Haven's Biohaven Pharmaceuticals for $11.6B Pfizer Inc. announced in May that it will acquire New Haven-based Biohav- en Pharmaceuticals, well-known for its migraine drug Nurtec ODT, for $11.6 billion cash. e boards of directors of both com- panies unanimously approved the deal. Under the terms of the agreement, Pfizer will acquire all shares of Biohaven that it doesn't already own for $148.50 per share. e deal includes the acquisition of Biohaven's drug rimegepant, known in the United States as Nurtec ODT for treatment and prevention of migraines. e companies expect the deal to be finalized by early 2023. Following the closing, New Biohaven will continue to operate under the Biohaven name and will remain in New Haven. Avelo starts nonstop service to Chicago Avelo Airlines in May began provid- ing nonstop service from Tweed-New Haven Airport to Chicago Midway International Airport. e Chicago-New Haven route will typically be available four days per week. Introductory one-way fares start at $89. e company anticipates that the route will attract business people and tourists, particularly those interested in getaways to New York and New En- gland. PHOTO | CONTRIBUTED New loan program aims to boost e-bike use Connex Credit Union is making it easier for people to ditch their cars for a greener mode of travel. It recently launched a new electric, or e-bike, loan program to help make the environmentally-friendly mode of transportation more accessible to Con- necticut residents. e loan program offers fixed rates with fixed payments, A r o u n d t h e R e g i o n no application, annual or prepayment fees and the first payment deferred for 90 days. Connex is one of Connecticut's larg- est credit unions, serving more than 65,000 members at branches through- out New Haven, Hartford, Middlesex and Fairfield counties. Hole in the Wall Gang to open 2nd camp in Maryland e Hole in the Wall Gang Camp, a nonprofit that has its administrative headquarters on Long Wharf in New Haven, will open a second camp for sick kids at a donated facility in Mary- land. Formerly known as the Wye River Conference Center, the new Maryland camp will be renovated to provide free year-round programming. e Aspen Institute donated the property, which is scheduled to be ready for campers in 2023. PHOTO | CONTRIBUTED The late Paul Newman, founder of The Hole in the Wall Gang Camp. The Giggling Pig eyes global expansion e Giggling Pig, a children's art studio that opened in Shelton in 2011, recently expanded with new franchises opening across Connecticut. e latest franchise at 38 Columbus St. in Seymour held its grand opening May 20. Another franchise opened in Milford at 44 Naugatuck Ave. in early May. Owner and Founder Hannah Perry said two more Giggling Pig franchis- es are slated to open later this year at locations yet to be named. Perry isn't stopping in Connecticut, and hopes to make e Giggling Pig a household name nationally and inter- nationally. e studio offers art classes, af- ter-school enrichment programs, birth- day parties, special events and seasonal camps for kids ages 2 to 16. PHOTO | JEAN FALBO-SOSNOVICH (Left to right) The Giggling Pig Founder and Owner Hannah Perry and Seymour franchise owner Pia Migani. YNHH acquires Guilford home care agency Guilford-based Visiting Nurse Association Community Healthcare & Hospice has merged with Yale New Haven Health, the system announced in May. e agency will become part of YNHH's regional home-health agency, Home Care Plus Inc. About 500 employees, most of the agency's staff, joined YNHH as part of the merger from both the Guilford and Hamden locations. Merger terms were not disclosed. VNA Com- munity Health- care & Hospice, founded in 1910, provides medical home care in 35 towns. PHOTO | FILE IMAGE Yale New Haven Hospital. Irish bioscience firm pledges to open U.S. HQ in New Haven Nuritas, a bioscience company based in Ireland, announced it plans to open a new U.S. headquarters in New Haven. Nuritas uses artificial intelligence to develop drugs using plant-based bioactive peptides, the company said. It currently has its U.S. base in Cam- bridge, Mass. Nuritas plans to hire 10 to 15 people for science, engineering and research roles in the New Haven area over the next 12 months, according to a spokesperson. e company plans to set up both laboratory and manufacturing facilities in the state. "We are incredibly excited to ex- pand our U.S. team with the kind of commercial and scientific talent and resources available in Connecticut and nearby Boston and New York," Founder and CEO Nora Khaldi said. e company, which was founded in 2014, is working with AdvanceCT and Yale Ventures on its move to New Haven. An exact location has yet to be determined. CT wealth management firm acquired Nebraska-based Carson Wealth, which manages $20 billion in assets and has 35 offices, is expanding into Connecticut with the acquisition of financial planning and wealth manage- ment firm Karn Couzens & Associates. e 10-person team at Karn Couzens & Associates, which has $800 million in assets, is led by managing directors and wealth advisers Robert A. Karn and Jeffrey P. Couzens. It has offices in Farmington and Wallingford. Private equity firm acquires Stratford-based Kitchen Brains An Atlanta-based private equity firm, Source Capital LLC, has acquired Kitchen Brains, a cooking electronics company in Stratford. Financial terms of the deal were not disclosed. Kitchen Brains' products are used where food is prepared, with its customer base including restaurants, grocery stores, schools, hospitals, stadiums and more worldwide. It makes smart cooking computers, electronic controls and soware for commercial foodservice operations. Its cooking products help food preparers ensure food is ready for consumption. Its global headquarters and manufacturing facility are in Stratford. UI partners with California tech firm for EV program A new partnership between an area utility and California tech company aims to boost consumer use of electric vehicles and save energy and money. e United Illuminating Co. an- nounced it is partnering with Silicon Valley tech company Bidgely to help implement the first electric vehicle (EV) managed charging program in Connecticut. e program, established by the Connecticut Public Utilities Regulatory Authority (PURA), aims to compile data and devise strategies designed to shi customers' EV loads to off-peak periods. e effort is part of a larger collab- oration between UI, PURA and other stakeholders to develop statewide EV charging infrastructure, which will support the state's goal of having up- wards of 150,000 electric vehicles on the road by 2025. Texas-based firm to acquire Russek Financial Services Integrity Marketing Group LLC announced in May it has reached an agreement to acquire North Hav- en-based Russek Financial Services, an insurance and financial planning agency. Integrity, which is based in Dallas, Texas, distributes life and health insurance and provides wealth management and retirement planning services. Financial terms of the deal were not disclosed. Jeffrey Russek, president of Russek Financial Services, will become a B R I E F S PHOTO | CONTRIBUTED Jeffrey Russek PHOTO | CONTRIBUTED Nuritas Founder and CEO Nora Khaldi IMAGE | PIXABAY.COM PHOTO | CONTRIBUTED Kitchen Brains timers for the food industry.

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