Biohaven signs up to $795 million deal with SK Biopharma to license Kv7 platform and epilepsy asset

Biohaven announced a licensing agreement with South Korean SK Biopharma centered on its Kv7 ion channel platform and lead epilepsy candidate opakalim.

The deal could deliver up to $795 million, including an immediate cash infusion of about $400 million-$350 million at closing and $50 million next year-plus up to $150 million in development and regulatory milestones.

SK Biopharma will also assume up to $185 million of Biohaven’s milestone obligations from a prior agreement with Knopp Biosciences, and up to $60 million related to the technology, further reducing Biohaven’s liabilities.

The financing would significantly boost Biohaven’s cash position, which stood at roughly $270.5 million at the end of June, and grants SK Biopharma an exclusive global license to the Kv7 platform and the opakalim program, with Phase 2/3 data expected later this year.