Portage's further investment in Biohaven, now holding nearly 53% stake

23 March 2016

Canada’s Portage Biotech (OTC: PTGEF) says that its affiliate Biohaven Pharmaceutical recently raised about $3 million at a price of $3,500 per its common share. Portage subscribed for $ 1,001,000 and an independent director of Biohaven subscribed for the balance.

A discoverer and developer of innovative cell permeable peptide therapies, Portage has now invested a total of about $7 million and currently holds 52.86% of the issued and outstanding common shares of Biohaven.

Biohaven is a privately-held biopharmaceutical company engaged in the identification and development of clinical stage compounds targeting the glutamatergic system. The company has licensed intellectual property from Yale University and Massachusetts General Hospital.

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