SK Biopharmaceuticals announced on the 26th that it has acquired a new epilepsy drug candidate from global biotech firm Biohaven Bioscience for 795 million USD.
The deal grants SK Biopharmaceuticals exclusive rights to Opacalim, an epilepsy drug candidate that activates potassium channels (Kv7), along with other potassium channel activators and related platforms. Opacalim is currently in global Phase 2 and 3 clinical trials.
The agreement is valued at up to 795 million USD, with a non-refundable upfront payment of 400 million USD. SK Biopharmaceuticals will pay 350 million USD upon closing and an additional 50 million USD a year later. The company may also pay up to 395 million USD in milestone payments, contingent on development and regulatory achievements.
While Biohaven will continue to conduct the ongoing clinical trials, SK Biopharmaceuticals will bear the associated development costs.
In addition, SK Biopharmaceuticals is expanding into new modalities. The company is particularly focused on enhancing its radiopharmaceutical (RPT) capabilities, leveraging SK Group’s infrastructure and raw material procurement strengths.