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4 n e w h a v e n B I Z | A p r i l 2 0 2 3 | n e w h a v e n b i z . c o m Pfizer to acquire cancer biotech Seagen in $43B deal Pfizer announced in March it plans to acquire Seagen, a biotechnology company focused on cancer treatments, in a deal valued at $43 billion. New York-based drug giant Pfizer, which has a facility in Groton, said the acquisition will be for $229 in cash per Seagen share. e boards of directors for both companies have unanimously approved the merger. Seagen is based in Bothell, Washington, and it develops and commercializes medicine to fight cancer. Pfizer CEO Albert Bourla noted that cancer is a leading cause of death worldwide, and the two companies aim to accelerate cancer-fighting breakthroughs. e companies expect the deal will be finalized in late 2023 or early 2024, subject to conditions such as stockholder and required regulatory approvals. PHOTO | PFIZER Pfizer's research and development facility in Groton. Liberty Bank moves to open first full-service branch outside CT Middletown-based Liberty Bank has applied to open a full-service branch in East Longmeadow, Massachusetts, its first full-service, out-of-state branch. Established in 1825, Liberty currently reports itself as having 56 offices in Connecticut, 53 of which are full-service branches. Liberty, which claims more than $7 billion in assets, submitted an application to the Connecticut Department of Banking on March 24. e proposed full- service branch at 94 Shaker Road in East Longmeadow is part of the bank's expansion strategy focused on the A r o u n d t h e R e g i o n Interstate-91 corridor. Liberty gained a toe-hold in Massachusetts with the establishment of an East Longmeadow commercial loan production office in 2021. at went so well, the bank is moving to open the full-service branch, with a target opening in October. CVS closes on $8B acquisition of Signify Health CVS Health Corp. in late March closed on its $8 billion acquisition of Signify Health, the Woonsocket, Rhode Island-based healthcare company announced. Signify, which has a major corporate presence in Norwalk, is a home healthcare services company. It runs a network of doctors, nurses and physician assistants who provide in- home care. CVS operates a pharmacy chain with nearly 10,000 locations and offers health insurance along with pharmacy benefit management services. e acquisition will expand the presence of CVS in Connecticut. e company also owns health insurer Aetna, which is based in Hartford. PHOTO | CVS A CVS HealthHub location. BIC partners with celebrities to introduce new razor Shelton-based manufacturer BIC has teamed up with comedian Eric Andre and actress Annie Murphy to promote its new EasyRinse razor. e "All Shave. No Clog." slogan for the new campaign embraces the razor's reverse blade design and anti-clog technology. e anti-clog tech has been five years in development, and has 21 total patents, with more patents pending, according to the company. e ad features Andre and Murphy in neighboring shower stalls embracing the anti-clog feature of the razor and exchanging banter. CT Water plans to build solar array in Clinton e Connecticut Water Co. said it will begin construction on a solar array installation at its corporate office and southern region work center in Clinton. e solar array, a combination of roof and ground-mounted units, will completely offset electrical consumption at both facilities, the company said. It will also provide energy for two high-capacity electric vehicle charging stations, as the company electrifies part of its utility fleet. e array is expected to be completed in June 2023 and will generate 275 kilowatts of power. Connecticut Water has installed two other solar arrays, one at the Stewart Water Treatment Plant in Naugatuck, generating 25% of the power needed for that facility, and another in Colchester at the Westchester Village system, which nearly offsets power use for that system. PHOTO | COURTESY CONNECTICUT WATER CO. Biohaven buys drug from Chinese biotech with promise for brain disorders New Haven-based biotech company Biohaven has acquired a drug with promise for the treatment of brain disorders like Parkinson's, multiple sclerosis, Alzheimer's and Amyotrophic Lateral Sclerosis (ALS). Biohaven announced recently it had acquired global rights outside of China for a drug now called BHV-8000 from China's Hangzhou Highlightll Pharmaceutical Co. Ltd. e drug is an oral inhibitor of two enzymes, TYK2 and JAK1, which are believed to play a role in the inflammatory process that leads to brain diseases. Highlightll got $10 million in cash upfront in the deal in addition to $10 million in Biohaven equity, development and commercial milestone payments of up to $950 million and tiered royalty payments. e new Biohaven drug can penetrate the blood-brain barrier and has fewer side effects than drugs in the same class of TYK2/JAK1 inhibitors, according to the company. Biohaven said it plans to launch a Phase 1 study of the drug later this year. Biohaven CEO Vlad Coric. PHOTO | CONTRIBUTED Sikorsky receives $120M contract from the Department of Defense Stratford-based helicopter manufacturer Sikorsky recently was awarded a $120 million contract from the U.S. Department of Defense. e Lockheed Martin company will provide logistics, engineering and modification support for the H-53 helicopter for the U.S. Navy, Marine Corps and foreign militaries. e Sikorsky H-53 is a family of military aircra. Funds will be issued to Sikorsky as individual orders are completed. e majority of the work will be completed at the Sikorsky headquarters in Stratford, and it is expected to be completed by March 2028. e Norwegian government also recently agreed to purchase six new MH-60R Seahawks from Sikorsky in a $1.13 billion deal. PHOTO | LOCKHEED MARTIN Sikorsky CH-53K King Stallion. Turnbridge launches new teen outpatient program in Westport New Haven-based Turnbridge, a private provider of mental health and addiction services to young people, launched a new outpatient program in Westport in March designed to help teens with aerschool treatment. e new Adolescent Aer School Intensive Outpatient Mental and Behavioral Healthcare Program is based at the company's Fairfield County center at 162 Kings Highway N. Offered to teens ages 14 to 17, the new program provides individual and group sessions and treatments including dialectical behavior therapy, cognitive behavioral therapy and mindfulness-based approaches. Based at 189 Orange St. in downtown New Haven, Turnbridge currently employs 350 people in positions ranging from physicians to patient transporters. B R I E F S HBJ PHOTO | JOE COOPER Liberty Bank's corporate headquarters in Middletown. PHOTO | COURTESY BIC Eric Andre and Annie Murphy with the new BIC EasyRinse razor's patented anti-clog technology.

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