Biohaven has entered into a strategic global licensing and collaboration agreement with SK Biopharmaceuticals under which SK Biopharmaceuticals will obtain an exclusive worldwide license to Biohaven’s Kv7 ion channel platform, led by opakalim (BHV-7000), a next-generation, selective Kv7.2/7.3 potassium channel activator in development for the treatment of focal epilepsy.
Under the agreement, SK Biopharmaceuticals will make payments up to $795 million related to the Kv7 platform plus tiered royalties to Biohaven on U.S. net sales of opakalim. In addition, SK Biopharmaceuticals will assume certain Kv7 future milestone obligations totaling $245 million and mid-single digit royalty obligations to Knopp Biosciences.
Biohaven is a biopharmaceutical company focused on the discovery, development and commercialization of life-changing treatments across immunology, neuroscience and oncology.
With a history of more than 30 years, SK Biopharmaceuticals is the first global biopharmaceutical company in more than a decade, as well as the first Korean company, to independently discover, develop and commercialize a novel antiseizure medicine.
The S&C team advising Biohaven includes Rachel Yu and Elizabeth Cheung. John Jo and Eli Dubin are advising on tax matters. Bob Downes, Scott Crofton and Catherine Yuh are advising on corporate matters. Carla Hine and Samantha Hynes are advising on antitrust matters.