South Korean biopharmaceutical company SK Biopharmaceuticals said it entered a worldwide licensing agreement with Biohaven Pharma for the development and commercialization of Opakalim, an epilepsy drug candidate, along with additional Kv7 activator compounds derived from Biohaven’s Kv7 discovery platform.
Under the terms of the deal, SK Biopharmaceuticals will make an upfront payment of $400 million, split into $350 million due at closing and a further $50 million scheduled one year later. The total potential value of the agreement is capped at $795 million, with additional payments contingent on regulatory milestones and sales-based royalty obligations to Biohaven’s Irish subsidiary, Biohaven Bioscience Ireland.
The transaction grants SK Biopharmaceuticals exclusive global rights to develop and commercialize the licensed products, while Biohaven retains certain rights related to the Kv7 platform. Financial terms were disclosed in a regulatory filing on Wednesday, with the agreement reflecting growing collaboration between biotech firms to advance neurological treatments.
Opakalim, a selective Kv7 potassium channel opener, is positioned as a potential treatment for epilepsy and other neurological disorders. The drug candidate has previously undergone clinical evaluation, and its licensing marks a strategic expansion for SK Biopharmaceuticals into the neurology segment.
