Biohaven secures up to $795 million in licensing revenue from SK Biopharm for its Kv7 epilepsy candidate, opakalim
Executive summary: Biohaven Ltd. and SK Biopharmaceuticals Co., Ltd. entered into a strategic global licensing agreement for Biohaven’s Kv7 ion‑channel platform and its lead epilepsy candidate opakalim. The deal provides Biohaven with up‑front and milestone cash inflows of up to $795 million and future royalties, validating its Kv7 platform, while granting SK Biopharm a potential new epilepsy therapy with commercial upside.
Who is involved: Biohaven Ltd., SK Biopharmaceuticals Co., Ltd.
Likely next: Biohaven will receive the upfront payment shortly after signing; SK Biopharm will fund further development of opakalim, triggering milestone payments as clinical and regulatory progress is made, with royalty payments beginning upon U.S. commercial launch.
Biohaven and SK Biopharmaceuticals announced a global licensing agreement covering Biohaven’s Kv7 ion‑channel platform and its lead epilepsy molecule opakalim. Under the deal SK Biopharm will provide upfront and milestone payments that could total $795 million, plus tiered royalties ranging from the mid‑teens to low‑twenties percent of U.S. net sales of opakalim. The agreement supplies Biohaven with substantial non‑dilutive funding while giving SK Biopharm access to a novel anti‑seizure asset that could address unmet need in the epilepsy market.
Timeline
- — BioArctic: Interim Report for the period April - June 2026 (PR Newswire)
- — Biohaven and SK Biopharmaceuticals Enter into Strategic Global Licensing Agreement for Novel Kv7 Ion Channel Platform and Opakalim, Lead Candidate for Epilepsy (PR Newswire)
Analysis — what this means
Likely next events
- Biohaven to receive the upfront payment from SK Biopharm in Q3 2026 following the August 26 signing.
- Royalty payments to Biohaven will commence upon U.S. commercial launch of opakalim, ranging from mid‑teens to low‑twenties percent of net sales.
Sectors affected
- Epilepsy treatment
- Central nervous system pharmaceuticals
- Biotechnology licensing