Biohaven Pharmaceuticals announced Thursday that it has appointed Kishen Mehta, a portfolio manager for New York investment firm Suvretta Capital Management LLC, to its board of directors.
Mehta previously served as a strategic advisor to Biohaven.
At Suvretta, Mehta is responsible for its healthcare-focused investment subsidiary, Averill, which attempts to identify companies that are disrupting the healthcare industry, Biohaven said in an announcement.
“We are excited to welcome Kishen to Biohaven’s Board of Directors and have access to his impressive business and financial acumen to help us continue to excel in achieving our goal of becoming a leading, modern-day biopharmaceutical company,” Biohaven Board Chair Declan Doogan said in a statement.
The appointment has apparently revived speculation about a potential takeover of the New Haven-based company, which specializes in drugs for neurological diseases.
Bloomberg reported in April 2019 that Biohaven had attracted interest from potential bidders and was working with a financial advisor on the early stages of considering a sale or partnership, but a sale never materialized.
On Friday morning, equities news and data service Dealreporter pointed out that the 2019 takeover speculation began shortly after Mehta became Biohaven’s strategic advisor, according to the website Seeking Alpha.
Dealreporter also noted that the FDA’s recent approval of a new Alzheimer’s drug by a Massachusetts company, Biogen, may signal its willingness to approve future neurology drugs, making the takeover interest “potentially more compelling,” Seeking Alpha reported.
A Biohaven spokesman said Friday that the company “does not comment on rumors and speculation.”
Mehta’s appointment follows the FDA’s approval of Biohaven’s Nurtec ODT last month as a prevention for migraine, expanding on its 2020 approval of the drug as a treatment for acute attacks.
In his previous role at Biohaven, Mehta advised the company on various business development, capital structure and communication strategies, Biohaven’s announcement said.
Mehta has also held positions at Surveyor Capital, a Citadel LLC subsidiary, as well as at Adage Capital and Apothecary Capital.
Biohaven CEO Vlad Coric cited Mehta’s “impressive track record supporting high-growth companies across the biotechnology and health care sector,” and his expertise in corporate finance, strategic planning and business development.
“This is an exciting time for Biohaven as the company continues to expand its CGRP migraine franchise and advances numerous late-stage programs across its innovative portfolio of product candidates targeting neurological diseases,” Mehta said in a statement. “I am very excited to work alongside Vlad, Declan and other members of the board to further propel Biohaven’s continued growth.”
Contact Natalie Missakian at news@newhavenbiz.com
