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HARTFORDBUSINESS.COM | DECEMBER 1, 2025 5 What's Trending Customized Commercial Financing Made Simple You have a vision for where your business can go, and your business bank should play an active role in that journey. Whether it's a small step or a giant leap forward, our commercial bankers will part - ner with you to tailor a solution that meets your needs. It's that Simple. Contact Dan or David today. Daniel Bishop F I R S T V I C E P R E S I D E N T C O M M E R C I A L B A N K I N G d b i s h o p @ b a n k a t p e o p l e s . c o m David Ference F I R S T V I C E P R E S I D E N T C O M M E R C I A L B A N K I N G d f e r e n c e @ b a n k a t p e o p l e s . c o m Learn More Member FDIC bankatpeoples.com/business Connecticut bioscience sector sees flurry of activity to end 2025 Kat Kayser-Bricker, chief scientific officer of Halda Therapeutics, which is being acquired by Johnson & Johnson. HBJ Photo | Steve Laschever The acquisition — following Merck's $3.9 billion purchase agreement for Stam- ford-based SpringWorks Therapeutics in April — is expected to close in the coming months, pending antitrust review. Biohaven raises $200M New Haven-based Biohaven Ltd. said it raised about $200 million through a public offering after reporting a third- quarter loss and receiving a Food and Drug Administration rejection of its drug candidate Vyglxia as a treatment for a rare brain disorder. The company said proceeds will support general corporate purposes as it refocuses on three of its most advanced drug programs: one designed to calm overactive brain activity in conditions like epilepsy and depression; another that targets harmful immune-system proteins involved in diseases such as IgA nephrop- athy and Graves' disease; and one that aims to help people with muscle-wasting or obesity by blocking a natural signal that limits muscle growth. Biohaven, which employs about 300 people, reported a third-quarter net loss of $173.4 million and said it has imple- mented cost-cutting measures that have not included layoffs. By Greg Bordonaro gbordonaro@hartfordbusiness.com C onnecticut's bioscience sector is closing out the year with a surge of activity — led by a $3.05 billion acquisition in New Haven. Overall, it's been an up-and-down few years for the state's life-sciences sector, which has seen major breakthroughs tempered by shifting investment markets and the challenges of advancing early- stage drug programs. Here's a look at the deals announced in recent weeks. Halda's $3B acquisition Johnson & Johnson announced on Nov. 17 it will acquire New Haven-based Halda Therapeutics for $3.05 billion in cash, marking Connecticut's second multibillion-dollar biotech deal of 2025. Halda is developing a new class of cancer drugs known as RIPTACs — small molecules that prompt cancer cells to activate their own self-destruct process. The approach has attracted growing interest in the industry as the company advances treatments for prostate cancer and other solid tumors. Founded in 2019, Halda has raised $226.2 million, including $126 million last year. Chief Scientific Officer Kat Kayser-Bricker was recently recognized as Entrepreneur of the Year in the bioscience industry. NanoViricides' short cash runway Despite a recent capital raise, Shel- ton-based antiviral drug developer Nano- Viricides Inc. says it does not have enough cash to fund operations beyond mid-Feb- ruary and will need additional financing to continue advancing its drug programs. In a quarterly filing, the company reported about $1.25 million in cash as of Sept. 30, and used roughly $1.6 million during the three-month period, driven partly by preparation for planned Phase 2 clinical trials. The disclosure came after NanoViri- cides announced last month that it raised about $6 million through a direct stock offering to a single institutional investor. Even with that infusion, the early-stage firm said it does "not have sufficient funding in hand to continue operations through Feb. 14, 2026," for its "planned objectives," which include moving its lead drug candidate into and through clinical trials. NanoViricides' lead drug candidate, NV-387, is a broad-spectrum antiviral being developed to treat the infectious viral disease mpox. It is slated for a Phase 2 trial in the Democratic Republic of Congo, where regulators have granted conditional approval. The company also plans to seek U.S. orphan-drug designations for poten- tial treatments for mpox, smallpox and measles, which could provide financial and regulatory incentives.