SK Biopharmaceuticals has announced a major acquisition deal worth 795 million USD with global biotech firm Biohaven Bioscience for a promising new epilepsy drug candidate.
The agreement grants SK Biopharmaceuticals exclusive rights to Opacalim, an innovative epilepsy treatment that targets potassium channels (Kv7), along with other related compounds and platforms. Opacalim is currently progressing through global Phase 2 and 3 clinical trials, showing potential to address unmet needs in epilepsy treatment.
The deal structure includes a substantial upfront payment of 400 million USD, with 350 million USD due at closing and an additional 50 million USD payable after one year. SK Biopharmaceuticals could potentially pay up to 395 million USD more in milestone payments, tied to specific development and regulatory achievements.
While Biohaven will continue to oversee the ongoing clinical trials, SK Biopharmaceuticals has agreed to shoulder the associated development costs, demonstrating their commitment to bringing this promising treatment to market.
In a strategic move to diversify its portfolio, SK Biopharmaceuticals is also venturing into new therapeutic modalities. The company is particularly focused on bolstering its capabilities in radiopharmaceuticals (RPT), leveraging the robust infrastructure and raw material procurement advantages of its parent company, SK Group.