NewHavenBIZ

n e w h a v e n b i z . c o m | D e c e m b e r 2 0 2 2 | n e w h a v e n B I Z 11 Our firm brings decades of sophisticated expertise and unbiased advice in managing the financial complexities of individuals and families in southern Connecticut. No matter where you are on life's journey, we have a team of experienced advisors ready to serve you. W W W . W E A L T H S P I R E . C O M Wealthspire Advisors LLC is a registered investment adviser and subsidiary company of NFP Corp. YOUR ASPIRATIONS. OUR INSPIRATION. and CEO of AdvanceCT, the state's nonprofit business-recruitment arm. e positive reception of Biohaven's spinoff is "incredibly good news for New Haven," Denious added. "It's just the kind of vibrancy you want to see." Denious said he has been telling the Biohaven story to life science companies interested in locating facilities in the state. Biohaven's example is also important in that it shows success in finding funding for great ideas, Denious added. "We have great R&D, we have great research, intellectual property – what we have not been good at is linking that to capital sources," Denious said of the state's bioscience industry. With the Pfizer deal, Coric joins the ranks of area serial biotech founders like Jonathan Rothberg of Quantum-Si and Craig Crews of Arvinas, according to Denious. "e capital will find the great idea and the great entrepreneur," he said. Seeking new cures For Coric, neurological diseases represent a great opportunity for smaller biotechs, aer pharma giants mostly pulled out of the field about a decade ago seeking simpler and more profitable drug targets. Raised in part on the grounds of the now-closed psychiatric Norwich State Hospital, Coric said he long felt a strong pull toward studying neurological ailments once considered untreatable and incurable. "We're finally getting to a point where we're understanding the neurobiology of these illnesses and we're much more informed," Coric said. Targeting specific cell mechanisms using advanced drug-delivery technology allows for treatments with better results and fewer side effects, Coric added. With the "new Biohaven," Biohaven Ltd., Coric sees an opportunity to focus on diseases like epilepsy and seizure disorders, currently treated with drugs with many disabling side effects. Biohaven's Kv7 ion channel activator platform shows promise for controlling epileptic seizures without making patients groggy and sleepy, unlike current treatments, Coric said. "It is important because patients are on these meds their whole life. … What they hate most is the side effects," Coric said. "So, just like what we did for migraines, we would try and do for epilepsy in our Kv7 program." e same Kv7 mechanism may also be at work in bipolar disorder and major depression, he added. "is would be a big paradigm shi if we're right," Coric said. Other Biohaven programs in earlier stages of development target the biological processes that cause Alzheimer's, Parkinson's, obsessive compulsive disorder and spinal cerebellar ataxia, a focus of Coric's own early research. "We think a common denominator for some of these neurodegenerative disorders is an overactive immune system that's attacking your own cells," Coric said. "We have a few immunomodulators that we hope will be ready for the clinic and testing next year or the year aer." For now, Biohaven is sticking with its core team of about 200 employees and remaining in its home base at 215 Church St. e company bought the adjacent former Quinnipiack Club at 221 Church for $4.1 million earlier this year but has no immediate plans to add significant head count or new facilities, Coric said. "e plans are to expand here in New Haven, but it's going to be staged," Coric said. "We don't want to get ahead of ourselves. We like our footprint here and we're going to continue to expand here." t made sense for the new Biohaven to stay local, Coric said. "You have an amazing amount of research coming out of Yale — also UConn — and we have a talent base that knows drug development," Coric said of New Haven. n Biohaven is based at 215 Church St., in New Haven, but bought the adjacent former Quinnipiack Club at 221 Church (shown above) for $4.1 million earlier this year. The company has no immediate plans for the property, officials said. PHOTO | COSTAR

• Cover