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December 1, 2020

Biohaven pays Tokyo drugmaker $10M upfront in licensing deal

PHOTO | Andrew Venditti Biohaven CEO Vlad Coric
By Natalie Missakian

Biohaven Pharmaceuticals has acquired the rights to develop and commercialize a Japanese pharma company’s portfolio of CGRP antagonists, a new class of drugs being used primarily to treat migraine headaches. 

The potential value of the agreement, announced by Tokyo-based Sosei Heptares Tuesday, could reach $370 million.

The agreement adds to Biohaven’s existing lineup of CGRP antagonists, including its commercial migraine drug Nurtec ODT, which gained FDA approval in February.

Under the deal, the New Haven drugmaker will pay Sosei $10 million upfront in cash and Biohaven stock for the exclusive global rights to its CGRP portfolio.

Biohaven will also make additional payments based on whether certain milestones are met, and will pay tiered royalties on any sales coming out of the collaboration.

After launching Nurtec ODT in March and advancing its other CGRP migraine nasal spray zavegepant into human testing, Biohaven says it now wants to pursue other CGRP-mediated diseases, although it did not specify any new indications. 

The deal gives Biohaven the rights to Sosei’s lead drug candidate HTL0022562, which has shown promise for migraine treatment in preclinical testing and is ready to enter clinical trials, according to the companies.

Sosei had initially licensed that drug to generic-drug giant Teva Pharmaceuticals, which had been preparing to bring it into Phase 1 human testing as a migraine treatment in 2018 before it realigned its portfolio and ended the deal.

Sosei Heptares President and CEO Shinichi Tamura said the company was “confident that the CGRP expertise and resources Biohaven brings will enable the further development of this and other promising CGRP antagonist candidates into human clinical trials.”

Sosei Heptares is headquartered in Tokyo with corporate and R&D facilities in Cambridge, UK.

Contact Natalie Missakian at news@newhavenbiz.com

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