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SK Biopharm secures epilepsy drug rights in $795 million deal
SK Biopharm has entered into an exclusive worldwide licensing agreement with Biohaven Bioscience Ireland for the epilepsy drug candidate Opakalim (BHV-7000), other Kv7 activator compounds, and the Kv7 Discovery Platform. The total value of the deal is estimated at up to $795 million.
The agreement includes a non-refundable upfront payment of $400 million. This is structured with $350 million payable upon deal closing and an additional $50 million one year later. Milestone payments for development and regulatory approval stages are valued at up to $395 million, plus royalties based on net sales.
Opakalim is a candidate targeting partial seizures by activating Kv7 potassium channels to regulate neuronal excitability. It is currently undergoing Phase 2 and Phase 3 clinical trials, specifically the RISE2 and RISE3 studies. To ensure continuity, Biohaven will continue managing the ongoing clinical trials while SK Biopharm covers the associated costs. The final closing of the transaction is subject to regulatory review under the U.S. Hart-Scott-Rodino (HSR) Act.
Entities
Biohaven Bioscience Ireland · Kv7 Discovery Platform · Opakalim · SK Biopharm
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The upfront payment is $400 million. kormedi.com · biz.heraldcorp.com
- [● 3 SOURCES] The total contract value is up to $795 million. kormedi.com · biz.heraldcorp.com
- [● 2 SOURCES] The transaction is subject to completion following review under the Hart-Scott-Rodino (HSR) Act. kormedi.com · biz.heraldcorp.com
- [● 3 SOURCES] SK Biopharm signed an exclusive license agreement with Biohaven Bioscience Ireland. kormedi.com · biz.heraldcorp.com
- [● 3 SOURCES] Biohaven will continue to conduct existing clinical trials, with SK Biopharm bearing the costs. kormedi.com · biz.heraldcorp.com
- [● 3 SOURCES] The deal includes Opakalim (BHV-7000), other Kv7 activator compounds, and the Kv7 Discovery Platform. kormedi.com · biz.heraldcorp.com
- [● 3 SOURCES] Clinical trials RISE2 and RISE3 are currently underway. kormedi.com · biz.heraldcorp.com
- [● 3 SOURCES] Opakalim is being developed for partial seizure indications. kormedi.com · biz.heraldcorp.com