Biohaven Expands Asian Licensing Footprint Through Strategic Ono Agreement

Biohaven Ltd. (NYSE:BHVN) entered into a licensing and collaboration agreement with Ono Pharmaceutical Co., Ltd. on Thursday to develop and commercialize its MoDE pan IgG degrader portfolio in select Asian territories. Read Also: FDA Pauses New Enrollment for Biohaven Epilepsy Drug Program Strategic Licensing Terms in Asia Under the terms of the agreement, Ono obtains an exclusive license to advance the clinical development and regional commercialization of Biohaven’s lead asset BHV-1300, as well as next-generation follow-on degraders BHV-1310 and BHV-1320. The agreed geographic territory for this partnership encompasses Japan, South Korea, Taiwan, and all member countries of the Association of Southeast Asian Nations (ASEAN). This transaction represents the first regional collaboration for an extracellular protein degrader built upon Biohaven’s platform technology. The underlying platform technology originally stemmed from foundational scientific research conducted at Yale University and has since been successfully advanced into clinical trials by Biohaven. Near-Term Funding and Royalty Allocations The financial structure provides Biohaven with up to $100 million in total near-term payments. Biohaven receives an initial $80 million upfront payment upon closing the agreement. Additionally, Biohaven expects to receive a $20 million milestone payment upon achieving a specified milestone within one year after execution. In addition to these near-term payments, Biohaven will earn royalties of approximately 20% on net sales generated from all licensed products commercialized by Ono within the licensed territory. Pipeline Indications and Retained Global Scope Lead therapeutic candidate BHV-1300 operates as an investigational small-molecule IgG degrader currently in Phase 3 clinical development for Graves’ disease. Beyond Graves’ disease, the drug candidate carries significant potential to treat a broad spectrum of additional IgG-mediated autoimmune conditions. In August, SK Biopharmaceuticals acquired an exclusive global license for Biohaven’s Kv7 ion channel platform. The platform includes opakalim, an experimental epilepsy treatment in late-stage clinical trials. Biohaven expects pivotal data later this year. Under the agreement, Biohaven could receive up to $795 million. That includes $350 million in upfront cash at closing and another $50 million in 2027. Biohaven is also eligible for $150 million in regulatory and development milestone payments, plus tiered royalties on global sales. SK Biopharmaceuticals will fund all future Kv7 program costs. It will also assume certain obligations to Knopp Biosciences totaling up to $245 million. BHVN Stock Price Activity: Biohaven shares are trading lower by 3.20% at $11.50 at the time of publication on Thursday, according to Benzinga Pro data. Photo by Pavel Kapysh via Shutterstock Read Also: Trump's $5,000 Dividend Faces a Reality Check: Just 21% Believe He'll Deliver