NYSE: BHVN© 2018 Biohaven Pharmaceuticals. All rights reserved.
April 2019
Advancing Innovative Therapies for Neurological Diseases
Biohaven Investor Presentation
Disclaimer
This presentation contains forward-looking statements within the meaning of “safe harbor” provisions of The Private Securities Litigation Reform Act of 1995, including: statements about our plans to develop and commercialize our product candidates, our planned clinical trials for our rimegepant, BHV-3500, troriluzole, BHV-0223, BHV-5000 and BHV-3241 development programs, the timing of the availability of data from our clinical trials, the timing of our planned regulatory filings, the timing of and our ability to obtain and maintain regulatory approvals for our product candidates and the clinical potential utility of our product candidates, alone and as compared to other existing or potential treatment options. These statements involve substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements and from the Company's current expectations. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. The forward-looking statements in this presentation represent our views as of the date of this presentation. Subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no obligation to do so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this presentation. For further information regarding these risks, uncertainties and other factors, you should read the “Risk Factors” section of the Registration Statement related to this offering and the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the ”SEC”) on February 28, 2019 and the Company’s other periodic reports filed with the SEC. References to www.biohavenpharma.com in this presentation are not intended to, nor shall they be deemed to, incorporate information on such website into this presentation by reference.
This presentation also contains market data and other statistical information that are based on independent industry publications, reports by market research firms or published independent sources. Some market data and statistical information are also based on the Company's good faith estimates, which are derived from management's knowledge of its industry and such independent sources referred to above. While the Company is not aware of any misstatements regarding the market and industry data presented herein, such data involve risks and uncertainties and are subject to change based on various factors.
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 2
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 3
Positioned For Near-Term Milestones and Long-Term SuccessThree Novel Small-Molecule Platforms
Exclusive license agreements & Intellectual Property
Deep experience across all platforms Cost-efficient R&D
GLUTAMATE PLATFORM• Conduct Phase 2/3 troriluzole trials in AD,
ataxia, GAD and OCD• Nurtec: PDUFA date July 2019
CGRP PLATFORM• Submit Rimegepant NDA in 2Q19• 3 positive Phase 3 acute treatment trials• Phase 3 prevention topline expected 4Q19• BHV-3500 intranasal Phase 2/3 initiated 1Q19
MPO PLATFORM• BHV-3241 Phase 2 in Multiple System
Atrophy (MSA) Completed by AZ • Orphan designation received 1Q19• Commence Phase 3 in 3Q19
RIMEGEPANT (BHV3000-303) | Acute Treatment of Migraine Rapid Dissolving
Biohaven’s Advanced Pipeline
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 4
Preclinical Phase 1 Phase 2 Phase 3 Approval
RIMEGEPANT (BHV3000-301 and -302) | Acute Treatment of Migraine Tablet
Data inRIMEGEPANT (BHV3000-201) | Open Label Long-Term Safety Study Tablet
RIMEGEPANT (BHV3000-305) | Preventive Treatment of Migraine Tablet
NURTEC™ (BHV0223) | Amyotrophic Lateral Sclerosis (ALS)* Rapid Dissolving
TRORILUZOLE (BHV4157-203) | Alzheimer’s Disease (AD) † Capsule
TRORILUZOLE (BHV4157-202) | Obsessive-Compulsive Disorder (OCD) Capsule
TRORILUZOLE (BHV4157-206) | Spinocerebellar Ataxia (SCA) Capsule
BHV-5000 | Neuropsychiatric Indications Capsule
CGRP PLATFORM FOR MIGRAINE
GLUTAMATE PLATFORM FOR NEUROPSYCHIATRIC INDICATIONS
Delivery
BHV-3500 | Acute Treatment and Preventive Treatment of Migraine Nasal Spray
TRORILUZOLE (BHV4157-207) | Generalized Anxiety Disorder (GAD) Capsule Achieved Phase 2/3 start 1Q19Complete enrollment 4Q19
Achieved Phase 2/3 start 1Q19
Expect Phase 3 topline 4Q19
MYELOPEROXIDASE INHIBITION PLATFORM FOR NEUROINFLAMMATION BHV-3241 | Multiple System Atrophy (MSA) Tablet
* 505(b)(2) † External collaboration with Alzheimer’s Disease Cooperative Study (ADCS) group
Received Orphan Designation 1Q19Expect Phase 3 start 3Q19
Anticipate 2Q19 NDA Submission
for Acute Treatment
Achieved Phase 2/3 start 1Q19Anticipate topline 4Q19
PDUFA decision for ALS* 3Q2019
Completed Phase 1 trial 4Q18; Additional toxicology studies to be completed
6-month Futility Analysis 4Q19Complete enrollment 4Q19
Complete enrollment Ph2/3 4Q19
Aspire to Achieve
• 3 Marketed drugs by 2021• Grow while maintaining
lean, efficient and high performing culture
meeting patient needs growing value
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 5
Goal:
CGRP PLATFORMTherapies for Migraine
Historical Segmentation of Migraine Therapy: Time to Revisit and Rethink
ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES
PREVENTIVE TREATMENT
• Indicated based on headache frequency & headache related impairment, including:• Chronic Migraine (CM) patients (~3.6M) • Patients appropriate for prevention
without CM diagnosis (~10.4M) • These patients also need acute treatment• CGRP agents targeting indication:
• Antibodies: Alder, Amgen, Lilly, Teva• Small molecules: Biohaven, Allergan
~36M People with Migraine
in the U.S.1
1. American Migraine Foundation2. ICHD-3b International Classification of Headache Disorders3. Lipton RB, Bigal ME, Diamond M, et al. Neurology. 2007;68(5):343-349.
~14M (39%3)~36M (100%)
ACUTE TREATMENT• 100% of patients need acute therapy• Diagnosis: Migraine with/without aura2
• Take as needed to abort attack• CGRP agents targeting indication:
• Small molecules: Biohaven, Allergan
Biohaven is disrupting the historical two segment migraine paradigm by advancing novel treatments with potential dual-therapy action (acute and preventive treatment)
Stylized pie-chart: NOT brain anatomy
APRIL 2019 7
Multiple Formulations With the Potential to Meet Patient Needsfrom Acute to Preventive Treatment of Migraine
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 8
NOJECTION™ CGRP Drug Delivery Platform
1. Exclusive World-Wide License with Catalent for use of Zydis® Fast Dissolve Technology in our migraine product candidates2. Aptar Pharma Unit-Dose System (UDS) single shot nasal technology
Oral Rapid Dissolving1 Intranasal2
BHV-3500Rimegepant
Calcitonin Gene-Related Peptide (CGRP) Receptor Antagonist: Mechanism of Action in Migraine1
Inhibiting Exaggerated Pain Transmission
Decreasing Artery Dilation
Blocking Neurogenic Inflammation
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 9
1. From N Engl J Med, Durham PL, CGRP-Receptor Antagonists — A Fresh Approach to Migraine Therapy? 350:1073-1075, Copyright © 2018 Massachusetts Medical Society. Reprinted with permission from Massachusetts Medical Society."
Rimegepant Phase 1 and Phase 2b: 75 mg Dose Identified for Phase 3
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 10
Phase 1: Well tolerated at high doses (up to 1,500 mg)• Ultra-high exposures up to 1,500 mg well tolerated – high doses
achieved daily exposures >50-fold therapeutic dose• 600 mg administered for up to 14 daysPhase 2b: Well tolerated at all doses (10 mg – 600 mg)• Most Adverse Events (AEs) of mild or moderate severity2
• 75 mg dose with comparable AEs to placebo• AEs of chest discomfort only reported in sumatriptan group• No clinically important findings on ECG,
physical exam, lab assessments or vital signsPreclinical: Large safety multiples at 75 mg (AUC)• 23x below rat NOEL3
• 56x below monkey NOAEL4
1. Marcus R, et al. (2014). Cephalalgia 34(2): 114-1252. Patients who took at least one tablet of study drug (Marcus et al., 2014) 3. NOEL = no observable effect level.4. NOAEL = no observable adverse effect level
Summary of Clinical Safety Data
Testing of very high doses in Phase 1 and 2b provides evidence of acceptable tolerability for 75 mg dose
0
25
50
75
100
Placebo 10 25 75 150 300 600
203 61 86 85 111 82100 71Patients (n)Rimegepant (mg)
**
Sustained Pain Freedom and Sustained Pain Relief 2-–24 Hours Post-Dosing1
**
**
**
**
**
****
**
**
*
Sumatriptan,100 mg
Patie
nts
(%)
2-24 hr Pain Freedom 2-24 hr Pain Relief* p < 0.05 ** p < 0.01
RIMEGEPANT (BHV-3000) PHASE 3 – STUDIES 301, 302 (75 MG TABLET) & 303 (75 MG ZYDIS ODT)
Successful Achievement of Both Co-primary Endpoints in Three Pivotal Phase 3 Trials with Rimegepant
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 11
• Primary endpoints achieved in three pivotal Phase 3 trials• Pain freedom at two hours• Freedom from most bothersome symptom (MBS) at two hours
• Achieved multiple secondary endpoints• Majority of patients achieved pain relief within two hours (speed of onset)• Sustained pain freedom and pain relief vs. placebo from 2 out to 48 hours• High proportion (~75%) of patients achieving normal function at 8 hours1
• ~80-85% of patients did not require rescue meds up to 24 hours1
• Placebo-like safety and tolerability• Safety profile similar to placebo including liver function tests• Adverse events profile similar to placebo
• Consistent results across endpoints and efficacy trials
1. Kaplan-Meier curve is an exploratory analysis
RIMEGEPANT (BHV-3000) PHASE 3 TOPLINE – STUDY 303, RIMEGEPANT 75 MG ZYDIS ODT
Increasing Benefit Over Time on Pain Freedom After Single Dose of Rimegepant 75 mg Zydis ODT Formulation
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES
Single Dose of Rimegepant, No Rescue Meds
0
20
40
60
80
100
2 hr 3 hr 4 hr 6 hr 8 hr
% o
f Pat
ient
s Pa
in F
ree
Pain Freedom 2-8 HoursPost-Single Dosing with Rimegepant 75 mg Zydis ODT
Time
Rimegepant 75 mg (n=669)Placebo (n=682)
21%
56%
28% 39%
49%
Estimates computed using the mITT population and CMH methods. Subjects using rescue medications at or before the assessment, and subjects not providing data, are classified as failures. 3 to 8 hr are exploratory analyses.
12
RIMEGEPANT (BHV-3000) PHASE 3 – STUDY 303, RIMEGEPANT 75 MG ZYDIS ODT
Pain Relief: Early Separation and Continued Improvement for Rimegepant75 mg Zydis ODT
Kaplan-Meier Curve of Time to Pain Relief
up to 2 Hours Post Single Dose1
Single Dose of Rimegepant,
No Rescue Meds
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES
Prob
abilit
y of
Pai
n R
elie
f
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0.00 30 60 90 120
Time (minutes)15
Rimegepant (n=669)Placebo (n=682)
Log Rank p-value < 0.0001
1. Pain Relief is defined as patients who have either mild-pain or no-pain during the specified interval. Data are Kaplan-Meier estimates of Pain Relief; subjects were censored (not included) who took rescue medication or were lost to follow-up during the specified interval. Kaplan-Meier curve is an exploratory analysis.
13
Single Dose of Rimegepant, No Rescue Meds
RIMEGEPANT (BHV-3000) PHASE 3 – STUDY 303
Lasting Pain Relief Through 48 Hours After Single Dose of Rimegepant75 mg Zydis ODT
Sustained Pain Relief
Rimegepant n=669
Placebo n=682 p-value
2 to 24 hrs 47.8% 27.7% <0.0001
3 to 24 hrs 56.4% 33.1% <0.0001
4 to 24 hrs 61.7% 36.8% <0.0001
2 to 48 hrs 42.2% 25.2% <0.0001
3 to 48 hrs 49.9% 29.8% <0.0001
4 to 48 hrs 54.7% 33.0% <0.0001
Sustained Pain Relief1 from 2, 3, & 4 to 24 or 48 hours
24 hr
48 hr
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 14
1. Sustained Pain Relief is defined as patients who have either mild-pain or no-pain pain during the specified interval, with no use of rescue medication. Analyses of 3-24, 4-24, 3-48, and 4-48 hours are exploratory.
RIMEGEPANT (BHV-3000) PHASE 3 – 301, 302 (75 MG TABLET) & 303 (75 MG ZYDIS ODT)
Pooled Adverse Event (AE) Safety Data: Rimegepant was Well Tolerated and Similar to Placebo Across Studies
AEs from Studies 301, 302 and 303 with an incidence ≥ 1%
Adverse Event RimegepantN=1771
PlaceboN=1785
≥ 1 On-Study AE 1 252 (14.2%) 209 (13.2%)
Nausea 26 (1.5%) 15 (0.8%)
UTI 21 (1.2%) 12 (0.7%)
SAEs 2 3 (0.2%) 3 (0.2%)
1. No other individual AEs ≥ 1% in rimegepant treated subjects than those listed in table. Includes all AEs without attribution to drug relatedness. 2. No drug-related Serious Adverse Events (SAEs). Two of the subjects with SAE in rimegepant group and one in placebo group had not been dosed before onset of SAE.
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 15
RIMEGEPANT (BHV-3000) PHASE 3 – 301, 302 (75 MG TABLET) & 303 (75 MG ZYDIS ODT)
Pooled Liver Function Test (LFT) Profile: Rimegepant Liver Safety was Similar to Placebo Across Studies
ALT or AST RimegepantN=1771
Placebo N=1785
> ULN 2 48 (2.7%) 52 (2.9%)
> 3x ULN 2 (0.1%) 2 (0.1%)
> 5x ULN 1 (0.06%) 3 0
> 10x ULN 0 0
> 20x ULN 0 0
Pooled LFT Results from Studies 301, 302, and 3031
1. AST/ALT categories are not mutually exclusive; No bilirubin elevations > 2x ULN across Studies 301, 302 and 3032. Upper limit of normal; ALT: alanine aminotransferase; AST: aspartate aminotransferase. 3. AST elevation, Not Drug-Related as deemed by the investigator: subject newly initiated weight-lifting with laboratory results consistent with muscle injury.
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 16
RIMEGEPANT (BHV-3000) PHASE 3 – STUDY 303, RIMEGEPANT 75 MG ZYDIS ODT
Summary Study 303: Rimegepant Zydis® ODT – Profile of Rapid and Lasting Effect in the Acute Treatment of Migraine
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES
• Rapid onset of pain relief with single dose• Numerical separation from placebo as early as 15 minutes and statistically significant by 60 minutes• Significantly greater percentage of patients returned to normal functioning by 60 minutes (p = 0.0025)
• Achieved statistical significance on regulatory co-primary endpoints of pain freedom (p < 0.0001) and freedom from most bothersome symptom (p = 0.0009) at 2 hours
• Superiority over placebo in 21 consecutive, prespecified, hierarchically-tested efficacy outcome measures, including:
• Clinical effect observed from 2 through 48 hours on freedom from pain (p < 0.0001), pain relief (p < 0.0001), freedom from most bothersome symptom (p = 0.0018), and freedom from functional disability (p < 0.0001)
• Safety profile similar to placebo, including liver function tests
• On-target for new drug application submission in the first half of 2019
17
RIMEGEPANT (BHV-3000) LONG TERM SAFETY STUDY – STUDY 201, INTERIM ANALYSIS 11/21/2018
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 18
• Over 91,000 doses of rimegepant 75 mg administered across 1,780 patients with migraine• Interim hepatic data were reviewed by an external independent panel of liver experts, who:
• provided a consensus opinion based upon Drug-Induced Liver Injury Network (DILIN) causality assessment• did not assess any liver cases as “probably related” to study drug; and no Hy’s Law cases identified• concluded there was no liver safety signal detected through the data analysis cut-off date, including a subset
of patients with near-daily dosing (≥15 doses/month)• In aggregate, the panel noted that, compared to placebo arms of other migraine treatments,
there was a very low incidence of overall elevations of liver laboratory abnormalities (1.0% incidence of serum ALT or AST > 3x ULN)
• Preliminary efficacy data suggest that rimegepant may be associated with a reduction in migraine days per month (30 days) compared to the observational lead-in period, suggesting a potential preventive effect that warrants further study
• Patients with ≥15 migraine days/month (N=172) during the standard of care observation period demonstrated a mean reduction of 4 migraine days/month by 12 weeks of intermittent dosing with rimegepant.
Summary Study 201 Interim Analysis: Rimegepant 75 mg (BHV3000-201) | Open Label Long-Term Safety Study
Potential for Rimegepant Differentiation1
Rapid Onset of Action:
Durability:
Placebo-level Tolerability:
Rimegepant ZYDIS ODT
Onset begins within 15 min, return to normal within 1 hr
Durability to 48 hours (half-life 8-12 hrs)
No single AE greater than 1.5%
Ubrogepant
Onset begins within 1 hr, return to normal within 2 hrs
Durability to 24 hours (single dose half-life 4 hrs)
Apparent AE dose relationship (100mg > 50mg/25mg)
50% use 2nd dose or rescue
Oral Triptans
Onset begins within 1 hour, return to normal within 1 hr(depending on formulation)
Generally durable to 24 hrs, 50% require 2nd dose
CV contraindications, Triptan AEs
Lasmiditan
Significantly higher AEs than pbo(~10-40% incidence in Phase 2/3)
Durability to 48 hours(half-life not reported)
30-40% took 2nd dose as rescue or recurrence
Significant pain relief at 30 minutes
ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 19APRIL 2019
1No direct comparisons within the same trial; impressions on this slide are limited given cross trial data comparisons
Rimegepant Differentiated Value Proposition: “One and Done”
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 20
Rapid Pain Relief Zydis® ODT
Durable Benefits through 48 hrs
Placebo-like Tolerability
BHV-3500 HIGHLIGHTS
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 21
• First intranasal formulation of a small molecule CGRP receptor antagonist• Initial development for the acute treatment of migraine
• Superior chemical attributes• Potent antagonist at the human CGRP receptor Ki = 23 pm• Highly soluble (>200 mg/mL), and high free fraction• US composition of matter patent protection to March 2031, not including patent term
adjustment or any potential patent term extensions
• Multiple potential routes of delivery• Nasal provides potential for ultra-rapid onset• Other potential routes include inhalation and oral
• Favorable safety profile in preclinical studies even at very high doses• Pursuing development for the acute and preventive treatment of migraine
• IND opened 3Q2018 for intranasal, and dose escalation nearly complete• Intranasal Phase 2/3 initiated 1Q19; anticipate topline results 4Q19
BHV-3500: Overview of Compound Properties and Clinical Development
Aptar Pharma Unit-Dose System (UDS) single shot nasal technology
CGRP Platform Development Milestones & Next Steps
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 22
2Q19 Initiate a Phase 2 proof of concept trial to evaluate the safety and efficacy of rimegepant in patients with treatment refractory trigeminal neuralgia
2Q19 Submit two NDAs for rimegepant Zydis ODT and tablet formulations for acute treatment of migraine to FDA; from positive data in three Phase 3 trials and ongoing long-term safety study
2H19 Report results from the regularly scheduled dosing cohort in rimegepant long-term safety study
1Q19 Achieved Phase 2/3 start in trial for intranasal BHV-3500 in acute treatment of migraine
4Q19 Anticipate report of topline results from Phase 2/3 trial of BHV-3500 in acute treatment of migraine
4Q19 Report Phase 3 topline data for rimegepant in preventive treatment of migraine
GLUTAMATE PLATFORMTherapies for Neurologic and Neuropsychiatric Indications
NORMAL FUNCTIONHealthy State
The Role of Glutamate: Present in 90% of Brain Synapses
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 24
EXCITOTOXICITYDiseased State
AMYOTROPHIC LATERAL SCLEROSIS
SPINOCEREBELLAR ATAXIA
DEMENTIA
NEURODEGENERATION
NEUROTOXICITY SEIZURES
DEPRESSION ANXIETY
STRESSCANCER PAIN
STROKE MELANOMA
ABNORMAL CELL GROWTH
RETT SYNDROME
NEURO-TRANSMISSION
MEMORY
CELL SURVIVAL
SYNAPTO-PLASTICITY
LEARNING
NEUROTROPHIC
STRESS RESILIENCE
ACTION POTENTIAL
COGNITION
MOOD
NEURONAL CONNECTIONS
Biohaven is focused on normalizing glutamate to treat disease
Glutamate Mechanisms of Action in CNS
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 25
Glutamate Transporter Modulation
• Troriluzole• BHV-0223
Glutamate NMDA Receptor Antagonism
• BHV-5000
Third-party clinical trials provide basis for exploration of riluzole-related candidates, troriluzole and BHV-0223, in multiple neurologic and neuropsychiatric disorders
1
2
1
2
UNMET MEDICAL NEED IN ALS
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 26
Riluzole (Rilutek®) is approved for the treatment of patients with amyotrophic lateral sclerosis (ALS) and proven to extend survival
• Originally marketed by Sanofi, received FDA approval in 1995
• In 2013, the FDA approved the first generic versions of riluzole
• Doses above 100 mg for efficacy not approved due to dose-dependent liver effects
BENEFITS Mechanism of action well understoodNeuroprotective, survival benefit in ALSWell tolerated, safe in clinical settings at approved dose
LIMITATIONS ✘Twice daily dosing, low bioavailability✘Fasting required for 6 hours/day,
can’t be taken with meals✘Dose dependent LFT liability(1)
✘Marked PK variability ✘High drug burden relative to efficacy(2)
✘Only one approved indication (ALS)
Riluzole (Rilutek®): Use and Limitations
1. LFT = liver function test2. Poor oral bioavailability results in a high liver burden relative to efficacy as ~40% is either not absorbed or is metabolized in the liver
Troriluzole: Rational Drug Discovery to Optimize Therapy
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 27
• Improved absorption• Enhanced bioavailability• Reduced drug burden• Reduced first pass metabolism• Favorable safety profile• Once-daily dosing
Peptide Transporter 1 Enhances Absorption of Troriluzole
PepT1
PepT1 = Peptide Transporter 1
ACTIVE ABSORPTION IN INTESTINAL TRACT BY PEPT1
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 28
Social Anxiety Disorder
Generalized Anxiety Disorder
Bipolar Depression
Troriluzole: Targeted Lead-Indication Development Strategy
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 29* = Third-party study / collaboration ongoing or planned (ADCS Collaboration for AD; ET Study Group Collaboration for ET)
Lead indications across an array of
potential neurologic and neuropsychiatric
indications
Obsessive-Compulsive & Related Disorders
Neurodegenerative Disorders
Mild-to-Moderate Alzheimer’s Disease*
Prodromal Alzheimer’s Disease
ALS (High Dose)
Affective Disorders
Cerebellar Disorders
Spinocerebellar Ataxia (SCA)
Friedreich’s Ataxia
Sporadic Ataxia
Other Ataxias
Essential Tremor*
Obsessive-Compulsive Disorder
Trichotillomania
Hoarding Disorder
Pathological Features of Alzheimer’s Disease
• Brain atrophy• Neuronal cell death• Amyloid and tau pathology
• Synapse loss (most highly correlated with clinical symptoms)
• Glial cell dysfunction
Congdon Nat Rev Neurol. 2018;14(7):399-415
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 30
Glial Cell and Synaptic Dysfunction Occurs Early in Alzheimer’s Disease
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 31
GLIAL CELLS • Protect and support neurons• Make up 80% of the human brain
GLIAL CELL DYSFUNCTION• Indicated by increased glial fibrillary acidic
protein expressing (GFAP+) cells• Present in human brain early in AD• Key consequence is reduced glial glutamate
transporter (GLT-1) expression• Associated with synaptic impairment
Glutamate Transporter (GLT-1) is Reduced in Human AD Brains
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 32
Human autopsy observations from AD and controls (n=13)GLT-1 immunoreactivity in temporal neocortex area in AD is significantly weaker than that in control
A. Hosi et al. Neuropathology and Applied Neurobiology (2018)
HEALTHY HUMAN BRAIN ALZHEIMER'S DISEASE
Increases GLT-1 Glutamate Transporter4
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 33
Riluzole Rescues Symptoms, Function and Pathology in AD Animal Models
1 Pereira Proc Natl Acad Sci 2014; 2 Hunsberger J Neurochem 2015; 3 Hunsberger, Metab Brain Dis 2016; 4 Pereira Molecular Psychiatry 2017; 5 Okamoto Transl Psychiatry 2018
Reduces Amyloid and Tau Pathology
Reduces amyloid plaque5
Reduces p-tau2
Control TauP301L Riluzole + TauP301L
CP-
13/A
ctin
(R
elat
ive
Rat
io)
Rescues Cognitive Symptoms(Learning and Memory)
Wat
er M
aze
Erro
rs
ControlTauP301LRiluzole + TauP301L
Morris water maze 2,3
Time (min)
Expl
orat
ion
Tim
e (s
ec)
Aged-control
Young-control
Aged-treated
Y-maze
Riluzole-treated aged animals perform like young-controls1
Riluzole-treated tau-overexpressing animals perform like controls
Vehicle control
RLZ treated
TRORILUZOLE (BHV-4157) PHASE 2/3
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 34
• Key entry criteria• Diagnosis of mild to moderate Alzheimer’s disease
with Mini-Mental State Exam (MMSE) score of 14–24
• Co-primary efficacy endpoints• Alzheimer's Disease Assessment Scale (ADAS)-Cog11• Clinical Dementia Rating-Sum of Boxes (CDR-SB)
• Secondary efficacy endpoints• Brain volumes: MRI imaging• Activities of daily living: ADCS-ADL• Neuropsychiatric: NPI• Neuropsychological: NTB• Cognitive: MMSE/MoCA
• Sample size: 292 subjects• Randomization: 1:1• Collaborator: Alzheimer’s Disease Cooperative Study
Troriluzole Phase 2/3 Clinical Trial Design in AD
Troriluzole280 mg QD
Placebo QD
Screening Phase42 days
Randomized Phase
48 weeks
R
Cerebellar Ataxias
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 35
• Characterized by:• Poor balance with falls • Dysarthria / dysphagia • Incoordination of limbs • Cognitive impairment• Postural or kinetic tremor • Oculomotor dysfunction
• Spinocerebellar ataxia (SCA; >40 subtypes)• Affects 1–5.6 per 100,000 (estimated 3,200–18,000 in US)• Neurodegeneration of cerebellum and input/output tracts• Relentlessly progressive, often fatal (aspiration)• Increasing disability over time (requiring wheelchair, assistance with
activities of daily living)• The 6 most common genotypes caused by triplet repeat expansion
mutations, sharing many phenotypic features • Genetic anticipation in some: subsequent generations affected at earlier
ages and with greater severity
• Other ataxias have similar core features • Can be recessive, dominant, immune, mitochondrial, post-stroke, e.g.,
Friedreich’s ataxia, ataxia telangiectasia, multiple system atrophy —cerebellar type
Atrophy of Cerebellum and Linked Structures
Spinocerebellar Ataxia type 2Cerebellar and brainstem volume loss
No FDA-approved medications for SCA
Troriluzole Treated SCA Patients Treated for 1 Year Compared to Matched Ashizawa Natural History Cohort
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 36
• Post-hoc analysis of patients enrolled in long-term extension of Phase 2b/3 troriluzole SCA trial
• Primary efficacy endpoint: change from baseline in the Total SARA Score after 48 weeks
• Patients from BHV4157-201 trial versus eligibility criteria matched Ashizawa Natural History cohort:
• SCA Genotype • SCA1, SCA2, SCA3, SCA6
• Age at baseline • 18 to 75 years of age
• Gender• SARA Score at baseline
• ≥ 8 and ≤ 30, and • Initial SARA gait item score ≥ 2
Troriluzole Study (BHV4157-206) in Spinocerebellar Ataxia (SCA) Achieved Phase 2/3 start in 1Q19
SCA Patients on Troriluzole vs. Natural History Cohort
2ANCOVA model with fixed effects for cohort, sex, & SCA genotype with age and baseline SARA scores as covariates1Matched on eligibility criteria
Leas
t Squ
ares
Mea
n2C
hang
e in
Tot
al
SAR
A Sc
ore
(from
bas
elin
e ±
SE)
Difference: -1.41 ± 0.411 (95% confidence interval of -2.22 to -0.60) suggesting therapeutic benefits of troriluzole (p=0.0007)
SARA: Scale for the Assessment and Rating of Ataxia
Study BHV4157-206: Randomized Controlled Trial of Troriluzole in SCA
Key Entry Criteria• SCA genotypes (SCA1, SCA2,
SCA3, SCA6, SCA7, SCA8, SCA10)
Design• Sample size: 230 subjects• Randomization: 1:1• Stratification: by SCA genotype• Dose: Troriluzole 200 mg QD vs.
Placebo QD • Primary Outcome: Modified
SARA Scale• FDA aligned outcome measure
Status• Phase 2/3 (initiated 1Q19)
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 37
Troriluzole200 mg QD
Placebo QD
Screening Phase6 weeks
Randomization Phase
12 weeks
R
Extension Phase
48 weeks
Troriluzole200 mg QD
SARA: Scale for the Assessment and Rating of Ataxia
TRORILUZOLE (BHV-4157) PHASE 2/3 TRIAL DESIGN
GENERALIZED ANXIETY DISORDER• Chronic or excessive worry, restlessness, fatigue, difficulty concentrating, insomnia
• Impairs ability to function socially or at work
• Irritable bowel-like gastrointestinal issues
• Significant unmet need
• GAD has a 12-month prevalence in the United States of 3%
• 3,500,000 (est. treatment resistant in U.S.)
TRORILUZOLE1 PHASE 2/3 TRIAL DESIGN• Multicenter (US only), randomized, double-blind, placebo-controlled trial in outpatients
with GAD
• Troriluzole 100 mg vs Placebo BID*, N=260
• Primary Outcome: Change on HAM-A from baseline to Week 8
Expanding Biohaven’s Glutamate Modulating Platform into Generalized Anxiety Disorder (GAD)
NBC New, 28-JUL-18
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 38
* BID: twice daily 1. Yale IP protects riluzole in GAD, SAD & Panic Disorder
NURTEC (BHV-0223)
DESIGN • Double–blind, placebo
controlled crossover trial with two Impromptu Speech Task sessions
• Subjects diagnosed with Social Anxiety Disorder
• N=22 randomized (21 completed)
• BHV-0223 vs PBO, dosed 1 hour prior to public speaking stress task; separated by two to ten days to allow for medication washout
Yale POC Study: Anti-Anxiety Effects of Nurtec (BHV-0223)
Primary outcome: trial powered at 80%, to detect an effect size of 0.58, at an alpha of p=0.10; prespecified analysis showed p=0.056 and likelihood-based analysis showed p=0.0259
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 39
RILUZOLE PRECLINICAL
Yale Human POC Study Is Consistent with Preclinical Models Showing Riluzole’s Anti-Anxiety Effects and Enhancement of Recognition Memory
Sugiyama et al 2017 (Brain Behavioral Research)
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 40
Anti-Anxiety Effects
%Ti
me
Spen
t in
Ope
n Ar
m
Saline Riluzole
Enhances Recognition Memory
Dis
crim
inat
ion
Inde
x
Saline Riluzole
Open-label Trial of Riluzole in Generalized Anxiety Disorder
Meaningful benefits on anxiety severity (HAM-A) and disability (SDS)
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 41
HAM-A, Hamilton Anxiety Rating Scale; SDS, Sheehan Disability Scale
0.00
5.00
10.00
15.00
20.00
25.00
30.00
1 2
HAM
-A T
otal
Sco
re
Baseline Week 80
5
10
15
20
25
SDS
Tota
l Sco
re
Week 8Screening
Objective Biomarkers Correlate with Improvement
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 42
• Improvement in anxiety strongly correlated with increased hippocampal NAA (marker for neuronal function)1,2
• Increases precede therapeutic benefit
• Increases in hippocampus volume observed in remitters3 that correlate with improvement
1 Mathew et al, 2008; 2 Abdullah et al, 2012; 3 Abdullah et al 2013; MRS, Magnetic Resonance Spectroscopy; NAA, n-acetylaspartate; PSWQ, Penn State Worry Questionnaire
Hip
poca
mpa
l NAA
(mM
)
Normalized Neuronal Function in Treatment Responders Increases in Hippocampus Volume Correlate with Improvement
in Anxiety Measures
Accumulating Evidence for Glutamatergic Dysfunction in OCD
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 43
GENES ANIMAL MODELS
NEURAL NETWORKS
PATIENTS IN THE CLINIC
Genetic association studies:
Glutamate transporter gene (SLC1A1 on chromosome 9p24) associated w/OCD1
GWAS studies are focusing attention on DLGAP1, a post-synaptic scaffolding molecule at glutamate synapse
↑Glutamatergic activity worsens OCD behaviors
SAPAP3 knockout mice (-/-) exhibit OCD-like behaviors2
SAPAP3 is an ortholog of DLGAP3, in the same family as a gene implicated by OCD GWAS studies
Multiple neuroimaging studies:
Increased activity in cortico-striatal-thalamic (CST) pathway3
MRS studies:Glutamate dysfunction in OCD suggested by some studies4,5
Spinal fluid studies: Increased glutamate in OCD patients6
Preliminary efficacy evidence:
Glutamate modulating agents show promise in OCD and anxiety disorder patients
1 Arnold et al 2006; 2 Aida et a; 2015; 3 Baxter et al 1987, 1988, 1992; Nordhal et al 1989; Swedo et al 1989; Sawle et al 1991; Rubin et al 1992, 1995; Adams et al 1993; Perani et al 1995; Adams et al 1993; Perani et al 1995; McGuire et al 1994; Breiter et al 1996; Rausch et al 1996; 4 Rosenberg et al 2000; 5 Bolton et al 2001; 6 Chakrabarty et al 2005
Neurochemical Evidence for Glutamate Dysregulation in OCD
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 44
Rosenberg et al. 2000
Consistent with pathologic hyperactivity in cortico-striatal circuit Suggests clinical testing of agents that enhance glutamate uptake
Healthy ControlSubjects
n = 11
Treatment NaïveOCD Patients
n = 11
Cau
date
Glu
tam
ater
gic
Con
cent
ratio
n (x
104 /w
ater
)
Randomized Controlled Trial with Riluzole Augmentation
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 45
• Outpatients with moderate to severe OCD severity (Y-BOCS score ≥ 21) and free of medication treatment for at least six weeks
• Randomized to receive fluvoxamine (up to 200 mg/day) plus either placebo or riluzole (50 mg twice daily)
• Robust benefit on primary outcome measure (change in Y-BOCS scores)
*, p<0.05; Cohen’s d 0.59
*
Placebo (n=25)
Riluzole (n=25)Y-BO
CS
Tota
l Sco
reYBOCS, Yale-Brown Obsessive Compulsive Scale
Emamzadehfard et al. 2016
Study BHV4157-202: Randomized Controlled Trial of Troriluzole in OCD
KEY ENTRY CRITERIA• Moderate to severe OCD
and inadequate response to standard of care
DESIGN• Sample size: 226 subjects• Randomization: 1:1• Dose: Troriluzole 200 mg
QD vs. Placebo QD (in patients on standard of care)
• Primary Outcome: Y-BOCS, a precedented outcome measure accepted by FDA
STATUS• Enrollment active• Expect to complete
enrollment in 2019
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 46
SOC + Troriluzole200 mg QD
SOC + Placebo QD
Screening Phase42 days
Randomization Phase
12 weeks
R
Extension Phase
48 weeks
SOC + Troriluzole200 mg QD
Subjects (n=226) with Moderate to severe OCD and inadequate response to standard of care
SOC, standard of care
YBOCS, Yale-Brown Obsessive Compulsive Scale
NURTEC (BHV-0223)
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 47
• Amyotrophic Lateral Sclerosis (ALS) is a progressive neurodegenerative disease that causes muscle weakness, difficulties with breathing and swallowing and death
• Generic riluzole has been proven to extends survival in ALS• Yet, swallowing is a challenge for patients with ALS
• About 1/3 of patients have dysphagia at diagnosis; over 80% during advanced disease • Many crush riluzole tablet and mix with food, yet label cautions results in lower drug
levels• Fasting required 3 hours per dose (fast 2 hours before and one hour after meals)
• Nurtec is a proprietary, novel formulation of riluzole optimized for sublingual administration
• Nurtec rapidly dissolves when placed under tongue• Active ingredient efficiently absorbed by sublingual mucosa• No need to swallow tablet with liquid
NURTEC is Optimized to Address Riluzole Delivery Limitations for ALS
Only Riluzole Oral Dissolving Tablet meets needs with difficulty swallowing
Cau
tion:
New
Dru
g-L
imite
d by
Uni
ted
Stat
es la
w to
inve
stig
atio
nal u
se
Nurtec is an investigational drug not currently approved for the treatment of ALS
NURTEC (BHV-0223)
NURTEC Phase 1 Single Dose PK Results
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 48
Observations• (A) Sublingual (SL) 35
mg dose of BHV-0223 vs. 50 mg dose of oral Rilutek (riluzole)
• (B) SL 40 mg BHV-0223 vs. 50 mg Rilutek
• BHV-0223 associated with less PK variability
• Oral Rilutek associated with large PK variability• Lower exposures in
some patients• Attributed to poor
bioavailability and first-pass metabolism of oral dosing
C
0
50000
100000
150000
200000
250000
300000
350000
400000
0.0 0.5 0.1 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0
0
50000
100000
150000
200000
250000
300000
350000
400000
0.0 0.5 0.1 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0
Rilutek (50 mg tablet)
BHV-0223 (35 mg SL)
Actual Time (h)C
Mea
n Pl
asm
a R
iluzo
leC
once
ntra
tion
(pg/
mL)
Mean
Individual Results
Mean
Individual Results
Time Post-Dose (h) Nurtec is an investigational drug not currently approved for the treatment of ALS
A. 35 mg BHV-0223 vs 50 mg Rilutek B. 40 mg BHV-0223 vs 50 mg Rilutek
NURTEC (BHV-0223)
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 49
EASE OF ADMINISTRATION • An early symptom of ALS is difficulty swallowing; makes use of riluzole
tablets challenging
• BHV-0223 uses fast-dissolving technology that does not require swallowing or administration of liquids
NO CLINICALLY MEANINGFUL FOOD EFFECT • Prescribing instructions for riluzole tablets state that it should be taken
at least an hour before, or two hours after, a meal to avoid food-related decreases in bioavailability
• Patients who do not strictly adhere to these fasting requirements or administer crushed riluzole in food, may not be obtaining desired therapeutic levels of riluzole
• This will be particularly beneficial to patients who require a continuous feeding tube for nutrition
NURTEC Offers Potential Advantages Over Conventional Riluzole Tablets for ALS Patients
MORE PREDICTABLE PHARMACOKINETIC PERFORMANCE • Some patients with ALS crush their solid riluzole tablets and
take with food to ease administration(1)
• With BHV-0223, patients will not have to crush or alter the form of administration
• In Phase 1 trial, observed less pharmacokinetic variability with BHV-0223 compared to 50 mg riluzole
REDUCED DRUG LOAD AND LIVER EXPOSURE • Riluzole associated with dose-dependent liver issues
resulting from high dose loads / extensive liver metabolism
• BHV-0223 is sublingually absorbed, bypassing first-pass liver metabolism and reducing the dosage size that needs to be administered, thereby reducing potential risk for hepatic enzyme elevations
1. Leads to uncertain pharmacokinetic performance as well as oral numbness
BHV-5000
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 50
• Potential first-in-class, next-generation NMDA receptor antagonist • Exclusive license from AstraZeneca• Low-trapping agent • Orally bioavailable prodrug of the IV drug lanicemine
• NMDA modulation has the potential for applicability across a number of CNS disorders• BHV-5000 demonstrate markedly mitigated risk of dissociative effects in the clinic • Attributed to its distinct ability to uncouple from the NMDA receptor more freely than other agents
• Well tolerated in a Phase 1 single and multiple ascending dose trial• BHV-5000 doses up to 95 mg studied to date in Phase 1• Active metabolite, lanicemine, has been administered to ~770 subjects in single or multiple doses
in 18 clinical trials; generally well tolerated
BHV-5000: A Novel Low-Trapping NMDA Antagonist
BHV-5000 MOA
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 51
Lanicemine vs. Ketamine
NMDA receptor / ion channel complex exists in an open or closed state
Blockers bind to the open state but may be “trapped” if they do so deep within the channel
High trapping agents narrow the therapeutic window; low trapping agents expand it
BHV-5000: Novel Low-trapping NMDA Channel Blocker
82% trapping 52-59% trapping
LanicemineKetamine
A clinically meaningful advantage over ketamine-like agents
LANICEMINE
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 52
• Lanicemine (active metabolite of BHV-5000) studied in 2 single-dose RCTs and 2 multiple-dose RCTs in depressed patients
• POC demonstrated in both single-dose studies
BHV-5000: Demonstration of Target Engagement
Improvement of ~5 Points on MADRS:Superior to Adjunctive Atypicals (~3 Points)Sustained CGI-I Response After Treatment Period
RCT: randomized controlled trial
• Efficacy demonstrated in one multiple dose study in Treatment Resistant Depression (Study 9) on primary endpoint (Week 3 MADRS) and multiple secondary endpoints, with effects sustained beyond dosing period
% P
atie
nts
with
CG
I-I s
core
≤2
3-week treatment -------- 5-week follow-up ---------
Phase IIb (Study 9):
Very-much-improved or
much-improved
measured by CGI-I
CGI-I: Clinical Global Impression – Global Improvement scale
--- 3-week treatment --- -------- 5-week follow-up ---------
weeks
weeks
Phase IIb (Study 9): Change in MADRS score as adjunct in MDD
MAD
RS
scor
e ch
ange
MADRS: Montgomery–Åsberg Depression Rating Scale
Sanacora ACNP 2012; Sanacora et al., 2013
Glutamate Platform Development Milestones & Next Steps
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 53
3Q2019 PDUFA for Nurtec NDA for treatment of ALS via 505(b)(2)
4Q2019 Complete enrollment in Phase 2/3 trial of troriluzole in Alzheimer’s Disease
4Q2019 Complete enrollment in Phase 2/3 trial of troriluzole in Obsessive-Compulsive Disorder (OCD)
4Q2019 Complete enrollment in Phase 2/3 trial of troriluzole in Generalized Anxiety Disorder (GAD)
1Q2019 Achieved Phase 3 start in trial of troriluzole in Spinocerebellar Ataxia (SCA)
ALS: amyotrophic lateral sclerosis, AD: Alzheimer’s Disease, OCD: Obsessive-Compulsive Disorder, GAD: Generalized Anxiety Disorder, SCA: Spinocerebellar Ataxia
MPO PLATFORMTherapies for Neuroinflammation
BHV-3241 FOR NEUROINFLAMMATION
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 55
• Rare, rapidly progressive and fatal neurodegenerative disease • Prevalence: 2–5 per 100,000• Clinical symptoms
• Parkinsonism: characteristic tremor (not responsive to L-DOPA), rigidity, dysarthria, falls• Cerebellar ataxia• Autonomic failure: orthostatic hypotension, urinary dysfunction, erectile dysfunction
• Prognosis: more rapidly progressive than Parkinson’s disease• Time to loss of ambulation: 3.5–5 years• Mean survival from symptom onset: 6–10 years
• Pathology: glial cytoplasmic inclusions (GCIs) containing alpha-synuclein• Disease mechanisms: oxidative stress and neuroinflammation• No disease modifying treatments
• Symptomatic and palliative management
Multiple System Atrophy (MSA)
BHV-3241 FOR NEUROINFLAMMATION
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 56
BHV-3241 Background
• Myeloperoxidase (MPO) enzyme• Key mediator of oxidative and inflammatory
processes that lead to neurodegeneration• Promotes alpha-synuclein aggregation• Increased in human MSA brains in areas of
neurodegeneration1
• BHV-3241 (verdiperstat)• Potent, first-in-class, brain-penetrant MPO inhibitor
Developed by AstraZeneca (formerly AZ3241)
1. Neurotox Res 2012;21(4):393-404
BHV-3241 FOR NEUROINFLAMMATION
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 57
Neuroprotective Effects of BHV-3241 in MSA Animal Model1
Reduces GCIs of alpha-synuclein
Promotes functional (motor) improvements
Suppresses microglial activation
RLZ treated
Rescues neurodegeneration
1. Neurotox Res 2012;21(4):393-404
BHV-3241 FOR NEUROINFLAMMATION
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 58
• Studied in approximately 250 subjects (healthy volunteers, Parkinson’s disease, MSA)• Generally safe and well tolerated• Demonstrated target engagement (↓ blood MPO activity)• Reduced neuroinflammation (microglial activation) in Parkinson’s disease
• Positron Emission Tomography imaging showed decreased TSPO ligand binding
BHV-3241 Clinical Experience
Jucaite et al., 2015.
BHV-3241 FOR NEUROINFLAMMATION
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 59
• Phase 2 study: randomized double-blind controlled trial• N=61 subjects (MSA-C, 34; MSA-P, 24)• Randomized to 12 weeks treatment • Placebo BID vs BHV-3241 300 mg BID vs BHV-3241 600
mg BID• Outcome measures: UMSARS*, PET, safety (labs, AE’s,
ECGs, vitals)
• Generally safe and well tolerated• Emerging efficacy signals warrant further study in MSA
• Dose proportional benefit on mean UMSARS decline• Dose proportional rates of clinically meaningful
improvement• 600 mg dose with statistical trends (p<0.10) for superiority
over placebo on multiple UMSARS items• 600 mg dose shows numerical improvement on MSA
Quality of life scale
Phase 2 Study in MSA Completed by AstraZeneca
* UMSARS, Unified MSA Rating Scale: primary efficacy measure for the study
Mean Change on UMSARS Total Score
UM
SAR
S To
tal C
hang
e fro
m B
asel
ine
BHV-3241
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 60
DESIGN• Sample size: 250 subjects• Randomization: 1:1• Dose: 600 mg BID vs. Placebo
*based on Ph2 • Primary outcome measure: Unified MSA
Rating Scale• Sites: US & EU (UK, FR, GER, AUS)STATUS• FDA EOP2 Meeting completed• EU Scientific Advice received • Anticipated start: 3Q2019 (US)
Plan for Phase 3 Study of BHV-3241 in MSA
BHV-3241600 mg BID
Placebo BID
Screening Phase Randomization Phase
1 year
R
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 61
MPO Platform Development Milestones & Next Steps
Received Orphan Disease designation from FDA
Initiate a Phase 3 clinical trial for the treatment of MSA, a rare, rapidly progressive and fatal neuroinflammatory disease with no cure or effective treatments
1Q2019
3Q2019
BHV-3241
Driving Investor Value NYSE: BHVN
Biohaven’s Deep Therapeutic, Clinical and Commercial Experience
Robert Berman, M.D.Chief Medical Officer
Jim EngelhartChief Financial Officer
John TiltonChief Commercial Officer
Cliff BechtoldChief Operating Officer
Charlie Conway, Ph.D.Chief Scientific Officer
Robert Croop, M.D.Chief Development Officer —
Neurology
Elyse Stock, M.D.Chief Portfolio Strategy
and Development
Donnie McGrath, M.D. MPHChief of Corporate Strategy and
Business Development
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 63
Vlad Coric, M.D.Chief Executive Officer, Director
PRIOR PROFESSIONAL ROLES
SELECTED DEVELOPMENT EXPERIENCE
Licenses and Intellectual Property
• Founded on intellectual property from Yale University focused on glutamate modulation
• Licensed lanicemine prodrugs from AstraZeneca• Expanded glutamate patent portfolio with licenses from Rutgers, MGH
and ALSBiopharma• Licensed CGRP antagonist program from Bristol-Myers Squibb• Collaboration with Catalent on ZYDIS ODT technology across
glutamate and CGRP antagonist programs• Kleo Pharmaceuticals investment to develop small molecule
immuno-oncology platform
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 64
Financial Summary
IPO on NYSE at $17/share in May 2017
COMPANY OWNERSHIP• Top-tier institutional investors and company founders among long-term shareholders
• ~ $645MM raised since inception
• Cash on hand as of December 31, 2018 ~ $260M
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 651. Data based on latest available information per Thomson and SEC Filings; institutional investor ownership as of 4Q2017
Upcoming Milestones:
• Submit NDAs for rimegepant Zydis ODT and tablet formulations for the acute treatment of migraine to the FDA in 2Q19, having previously announced positive data from its three pivotal Phase 3 trials and ongoing long-term safety study.
• Report Phase 3 topline data for rimegepant in preventive treatment of migraine in 4Q2019.• Initiate a Phase 2 proof of concept trial in 2Q2019 to evaluate the safety and efficacy of rimegepant in
patients with treatment refractory trigeminal neuralgia.• Report results from the regularly scheduled dosing cohort in rimegepant long-term safety study in 2H19.• Achieved Phase 2/3 start in trial for intranasal BHV-3500 in acute treatment of migraine in 1Q2019.
• Complete enrollment in Phase 2/3 trial of troriluzole in Alzheimer's disease in 4Q2019.• Complete enrollment in Phase 2/3 trial with troriluzole in obsessive-compulsive disorder in 4Q2019.• Complete enrollment in Phase 2/3 trial of troriluzole in generalized anxiety disorder in 4Q2019.• Commence Phase 3 trial of troriluzole in spinocerebellar ataxia in 2Q2019.• Announce PDUFA decision on Nurtec™ NDA for treatment of ALS via 505(b)(2) in 3Q2019.
• Initiate a Phase 3 clinical trial for the treatment of MSA, a rare, rapidly progressive and fatal neuroinflammatory disease with no cure or effective treatments, in 3Q2019.
APRIL 2019 ADVANCING INNOVATIVE THERAPIES FOR NEUROLOGICAL DISEASES 66
CG
RP
Glu
tam
ate
MPO
NYSE: BHVN© 2018 Biohaven Pharmaceuticals. All rights reserved.
Thank You!
www.biohavenpharma.com