Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

February 28, 2022

Biohaven to pursue epilepsy treatment via $100M deal 

PHOTO | ANDREW VENDITTI Biohaven CEO Vlad Coric
By Michelle Tuccitto Sullo

New Haven-based Biohaven Pharmaceuticals has inked a $100 million agreement with a goal of pursuing a potential treatment for epilepsy, which impacts some 3.5 million Americans.

The company said Friday it has entered into a definitive agreement with Channel Biosciences LLC, a subsidiary of Knopp Biosciences LLC of Pittsburgh, to acquire its Kv7 channel targeting platform.

Biohaven will make an upfront payment of $65 million in common shares and $35 million in cash to Knopp Biosciences, for a total value of $100 million. Biohaven has also agreed to make additional payments if annual worldwide net sales ultimately exceed $3 billion.

Michael Bozik, president and CEO of Knopp Biosciences, and Steven Dworetzky, Knopp’s chief scientific officer, lead a scientific team which has been developing and refining the platform for more than a decade. The two leaders and their team members are expected to join Biohaven, according to an announcement.

Through the deal, Biohaven is acquiring a lead asset known as BHV-7000, which Biohaven plans to bring to the clinic this year with focal epilepsy as the lead indication. 

According to Biohaven, BHV-7000 is a potent activator of Kv7.2/Kv7.3, which are involved in neuronal signaling and in regulating the hyperexcitable state in epilepsy. 

Biohaven CEO Vlad Coric said the transaction adds “one of the most innovative and exciting therapeutic targets for epilepsy” to the company’s portfolio.

“This technology platform is poised to deliver new treatment options for patients suffering from epilepsy,” Coric added.

According to the company, many anti-seizure medications have negative side effects, such as fatigue and sleepiness.

Irfan Qureshi, vice president of neurology at Biohaven, called BHV-7000’s unique profile “particularly exciting.”

“Preclinical data suggest it offers the potential for significant reductions in seizure frequency without the troublesome side effects associated with other anti-seizure medications," Qureshi said.

In addition to epilepsy, Biohaven indicated it anticipates the Kv7 platform may have implications for neuropathic pain and hyperexcitability disorders such as bipolar disorder.

Meanwhile, Biohaven also announced in recent days that it has entered into a worldwide license agreement with Bristol Myers Squibb for the development and commercialization rights to an experimental drug called taldefgrobep alfa. A clinical trial for its use targeting spinal muscular atrophy, a progressive debilitating motor neuron disease, is expected to begin later this year.

Also, Biohaven and Pfizer Inc. indicated on Friday that the Committee for Medicinal Products for Human Use of the European Medicines Agency adopted a positive opinion for rimegepant, recommending the 75 mg dose for marketing authorization for both the acute and preventive treatment of migraine in adults. It now goes before the European Commission for review. If approved, VYDURA would be the commercial name for rimegepant, an orally dissolving tablet, in the European Union. 

Rimegepant, also known as NURTEC ODT, has proven to be a money-maker for Biohaven. 

The company reported on Friday that NURTEC ODT’s net product revenue was $462.5 million for the 2021 calendar year, with over 1.6 million prescriptions since the product’s launch.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.

Sign up for Enews

Most Recent

Most Recent

0 Comments

Order a PDF