SK Biopharmaceuticals agreed to acquire Biohaven’s opakalim (BHV-7000) epilepsy drug through a deal structured with $400 million at closing and up to $795 million total depending on milestones and terms. The acquisition is centered on a late-stage Kv7.2/7.3 potassium channel activator in Phase II/III development. Biohaven positioned opakalim as a once-daily oral therapy intended to avoid titration and sedation problems associated with older antiseizure medicines. SK Biopharmaceuticals cited its existing epilepsy commercial infrastructure, including a dedicated field force and payer relationships tied to its current marketed asset. The structure is designed to reduce launch-execution risk and shorten the time to building sales momentum by leveraging an established franchise. Closing is subject to customary regulatory conditions, including Hart-Scott-Rodino clearance. For Biohaven, the transaction provides liquidity after research setbacks while moving the Kv7 program into a partner with full commercial readiness.