Biohaven signs $795 million global licensing agreement

• Biohaven (NYSE:BHVN) signed an exclusive global licensing agreement with SK Biopharmaceuticals worth up to $795 million for its Kv7 platform.
• The transaction provides $400 million in near-term cash, including $350 million at closing and $50 million payable in 2027.
• The company stated the partnership will leverage SK Biopharmaceuticals' established commercial infrastructure to advance the focal epilepsy treatment opakalim.

Biohaven (NYSE:BHVN) signed an exclusive global licensing agreement with SK Biopharmaceuticals for its Kv7 platform valued up to $795 million.

The transaction transfers control of opakalim, an epilepsy drug candidate, to a partner with an established commercial infrastructure.

The company stated the agreement includes $400 million in near-term cash, with $350 million due at closing.

The deal features $150 million in regulatory milestones and transfers $245 million of specified obligations to Knopp Biosciences.

Following the announcement, Biohaven's share price was up at $14.38.

SK Biopharmaceuticals will assume all future financial responsibility for the clinical development of the Kv7 program.

The companies expect the transaction to close following the completion of standard antitrust assessments and regulatory reviews.