Biohaven gains rights to myeloperoxidase inhibitor

Connecticut, USA-based Biohaven Pharmaceutical (NYSE: BHVN) has entered into an exclusive, worldwide license agreement with AstraZeneca (LSE: AZN) for the development and commercialization rights to AZD3241.

The compound is an oral myeloperoxidase (MPO) inhibitor that AstraZeneca progressed through Phase II clinical trials. Biohaven plans to conduct a Phase III clinical trial of this product candidate for the treatment of multiple system atrophy (MSA) – a rare, rapidly progressive and fatal neurogenerative disease with no cure or effective treatments. AZD3241 will now be referred to as BHV3241. Studies have also linked increased MPO levels with multiple sclerosis and Alzheimer's disease.

The in-licensing of BHV3241 expands Biohaven's portfolio of innovative, late-stage product candidates for the treatment of neurologic and psychiatric disease indications. Under the terms of the agreement, AstraZeneca will receive upfront cash payment and shares in Biohaven, and AstraZeneca is eligible for further development and commercial milestone payments, and up to double-digit sales based royalties.