January 7, 2021 -- Biohaven Pharmaceuticals has completed its acquisition of Kleo Pharmaceuticals in a deal worth $20 million to advance bispecific compounds that emulate or enhance the activity of biologics.
Under terms of the deal, Biohaven will acquire full ownership of Kleo's two immune modulating platforms, the Multi-targeted Antibody Therapy Enhancer (MATE) conjugation platform and the Antibody Recruiting Molecule (ARM) platform. The contract also includes a license agreement with Yale University for extracellular degrader technology created by the university's Spiegel Lab, for which Kleo was established to develop.
Biohaven will take over Kleo's 10,000-sq-ft laboratory facility in New Haven, CT, forming a new entity called Biohaven Labs that will serve as the discovery research arm of Biohaven. Biohaven Labs will continue Kleo's existing partnerships, including one with the Bill and Melinda Gates Foundation for developing hyperimmune globulin mimic (HGM) for COVID-19 and with PeptiDream for developing immuno-oncology therapeutics, it said.