KB News Desk
SK Biopharmaceuticals is staking nearly $800 million on rights to an epilepsy treatment from US biotech firm Biohaven, the company said Wednesday.
In a regulatory filing, the South Korean drugmaker said it struck an exclusive licensing deal worth up to $795 million with Biohaven Bioscience Ireland Limited for the epilepsy drug candidate opakalim (BHV-7000), along with other Kv7 potassium channel openers and Biohaven’s Kv7 Discovery Platform.
Opakalim is an investigational treatment for partial-onset seizures that selectively activates Kv7 potassium channels to reduce excessive neuronal activity. The compound is currently being tested in two late-stage clinical trials, spanning Phase 2 and Phase 3.
Biohaven will continue overseeing opakalim’s ongoing trials to keep development on track, with SK Biopharmaceuticals covering costs from here on. The deal’s closing depends on customary conditions, including clearance from US antitrust regulators.
SK Biopharmaceuticals will pay $400 million upfront, non-refundable, split between $350 million at closing and $50 million a year later. Development and regulatory milestones could add up to $395 million, plus royalties on net sales.
The contract runs 10 years past launch, or until patents and regulatory exclusivity expire, whichever comes last.
