SK Biopharma signs $795 million licensing deal with Biohaven for epilepsy therapy opakalim

SK Biopharma has entered a licensing agreement with Biohaven Pharmaceuticals to acquire worldwide rights to the Kv7 ion channel activator opakalim (BHV-7000) for epilepsy.

The deal provides an upfront cash payment of $350 million, a $50 million payment scheduled for next year, and potential development and regulatory milestone payments of up to $150 million, plus royalties if the drug reaches market.

SK will also assume Biohaven's obligations to the original developer Knopp Biosciences, covering milestone responsibilities valued at $245 million, which brings the total possible payout to $795 million.

Opakalim is currently being evaluated in a phase 2/3 study of patients with focal epilepsy, with a topline readout expected later this year, and SK aims to accelerate its development toward a projected 2029 launch.