SK Biopharmaceuticals agreed to acquire commercial rights to Biohaven’s late-stage epilepsy candidate opakalim (BHV-7000) in a $795 million deal, handing the program to a partner with established neurology commercialization infrastructure in multiple markets. Under the agreement, SK Biopharmaceuticals will pay $400 million near term (including $350 million at closing) and $50 million due in 2027. Opakalim, a selective Kv7.2/7.3 potassium channel activator, is in Phase II/III development (NCT06132893) for focal epilepsy and is being positioned as a once-daily oral treatment. Biohaven highlighted that SK’s epilepsy-focused field force, payer/formulary coverage, and patient-support infrastructure could reduce launch-execution risk compared with Biohaven independently scaling comparable capabilities. The transaction is subject to customary closing conditions, including Hart-Scott-Rodino clearance in the U.S., and reflects ongoing portfolio reshaping in epilepsy as companies seek lower pre-launch runway burdens.