Busy day for Biohaven, with proposed buy of Channel Biosciences and BMS deal
US neuroscience drug developer Biohaven Pharmaceutical (NYSE: BHVN) on Friday announced that it has entered into a definitive agreement to acquire Channel Biosciences, a subsidiary of Knopp Biosciences, and its Kv7 channel targeting platform – adding the latest advances in ion-channel modulation to Biohaven's growing neuroscience portfolio.
The Kv7 platform has been developed and refined for over a decade by a team with deep experience in ion channel science led by Dr Michael Bozik, and Steven Dworetzky. Both leaders, along with members of their scientific team, are anticipated to join Biohaven as part of the transaction, further bolstering the discovery and translational expertise at Biohaven Labs.
Financial terms include $100 million upfront, with over $1 billion contingent
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