Hartford Business Journal

HARTFORDBUSINESS.COM | SEPTEMBER 30, 2024 25 hospitals are in "a dire situation financially," and that a delayed deal could affect the safety and wellbeing of patients. He also has been outspoken about the development of artificial intelli- gence and its potential uses in health care, arguing it has the potential to revolutionize patient care. "We are hoping that we can make Connecticut the hub for health care and artificial intelligence in the United States and beyond," he said earlier this year, adding that the state needs to ensure it has policies in place to make that happen. Vlad Coric V lad Coric has led one of Connecticut's most successful homegrown bioscience companies. Under Coric's leadership, Biohaven Pharmaceuticals' blockbuster migraine drug Nurtec ODT became a top-prescribed migraine medicine in its class in the United States. The New Haven-based company launched Nurtec ODT, its first commercial product, in 2020, after winning U.S. Food and Drug Administration approval. The drug's popularity drew the eyes of Big Pharma, and in October 2022, Pfizer Inc. acquired Biohaven for $11.6 billion in cash, a deal that Coric said would expand distribution of the company's migraine drugs. But Coric didn't just take his newfound riches and go home. Instead, after the Pfizer deal was complete, he launched a newly independent clinical-stage company in New Haven called Biohaven Ltd., which has been working on a pipeline of experi- mental medicines for a range of neurological disorders. Biohaven's growth has allowed the company to expand its presence in New Haven. In 2022, Biohaven bought the 42,000-square-foot former landmark Quinnipiack Club at Church and Orange streets for $4.1 million. And in May of this year, the company purchased 209 Church St. for $2.35 million, an 8,900-square-foot building located near Biohaven's headquarters, at 215 Church St. Coric has been well-received by Wall Street. He's made appear- ances on well-known CNBC personality Jim Cramer's "Mad Money" show. Coric has decades of drug discovery and clinical develop- ment experience, including at the Yale School of Medicine and Bristol-Myers Squibb. He earned his medical degree from the Wake Forest University School of Medicine, and a bach- elor's degree in neurobiology and physiology at the University of Connecticut. John Houston A fter signing a securities purchase agreement that was expected to raise $350 million, the question for Arvinas President and CEO John Houston was what do you do for an encore? As it turned out, you top it. After landing the fundraising effort in November last year, Arvinas followed it up in April with a licensing agreement with Swiss drugmaker Novartis AG that could be worth up to $1.01 billion. Arvinas, a clinical-stage company, is working on treatments for pros- tate and breast cancer. It has been focused on creating drugs that harness the body's natural protein disposal system to remove disease-causing proteins. Under terms of the Novartis agree- ment, Arvinas receives a $150 million upfront payment to license ARV-766, its second-generation drug to treat prostate cancer. Arvinas is also eligible to receive additional development, regulatory and commercial payments of up to $1.01 billion, as well as tiered royal- ties for ARV-766, it said. Not everything has been smooth sailing for Arvinas. The company made a surprising disclosure in August when it told investors it was scrapping plans to occupy 163,784 square feet in a new 525,000-square- foot life sciences tower in New Haven, at 101 College St. As a result of that decision, Arvinas said it would pay the land- lord a $41.5 million lease termination fee. Arvinas said it backed out of the lease because it no longer needed the extra space as it has embraced "a geographically diverse workforce with remote employees based across the country, in addition to our on-site employees." Arvinas, which reported having POWER 25 | Healthcare We don't just see patients. We see people we care about. A healthy prostate is crucial for men's well-being—but that's just one part of the puzzle. Trinity Health Of New England offers advanced urology treatments for a variety of men's health conditions. So, whether you're dealing with prostate issues, kidney stones, or other urological conditions, our expert clinical team is ready to develop an individualized care plan that meets your specific needs. Learn more at TrinityHealthOfNE.org/Men

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