SK Biopharmaceuticals expanded its U.S. prospects by licensing opakalim, a Kv7-targeting small molecule from Biohaven for epilepsy. Biohaven outlicenced global rights to SK Biopharmaceuticals to pursue development and potential commercialization, while Biohaven receives non-dilutive financing. The asset is in pivotal clinical testing for epilepsy, making it a near-term strategic bet for both parties: SK gains another U.S. opportunity from a late-stage neurology pipeline, while Biohaven reduces financing pressure across its portfolio. The transaction underscores how late-stage neurology programs continue to be redistributed through licensing to match regional strength and capital allocation. It also raises the likelihood of intensified competition for next-generation epilepsy therapies once pivotal results mature.