Biohaven secures $250 million funding for CGRP receptor antagonist

7 August 2020

A funding agreement between Biohaven Pharmaceutical (NYSE: BHVN) and Royalty Pharma (Nasdaq: RPRX) will provide up to $250 million in funding for Biohaven to advance its CGRP receptor antagonist program.

Biohaven, which specializes in innovative therapies for neurological diseases, will receive $150 million at closing and $100 million upon the start of the oral zavegepant Phase III program.

The USA-based firm is developing zavegepant (formerly known as vazegepant), in an intranasal and oral formulation, for migraine prevention and non-migraine indications.

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