TRPM3

Up to $600 million in non-dilutive capital in exchange for capped milestone and royalty payments on future troriluzole product net sales $250 million to be funded at closing $150 million available at the Company's option upon the achievement of regulatory milestones related to troriluzole Up to $200 million at the mutual agreement of the parties for permitted strategic acquisitions and related costs and expenses $250 million to be funded at closing $150 million available at the Company's option upon the achievement of regulatory milestones related to troriluzole Up to $200 million at the mutual agreement of the parties for permitted strategic acquisitions and related costs and expenses NEW HAVEN, Conn. , April 28, 2025 /PRNewswire/ -- Biohaven Ltd. (NYSE: BHVN) ( Biohaven or the Company), a global clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of life-changing therapies to treat a broad range of rare and common diseases, today announced that it has entered into an agreement with Oberland Capital Management LLC ( Oberland Capital ) for an investment of up to $600 million in the Company, with the first tranche of $250 million of gross proceeds to be funded at closing on or before April 30, 2025 . The additional capital provides significant financial resources for ongoing clinical trials across the Company's full development portfolio and supports commercialization efforts in anticipation of a potential U.S. Food and Drug Administration (FDA) approval of troriluzole for the treatment of patients with spinocerebellar ataxia (SCA), a group of rare and ultra-rare progressively debilitating and fatal genetic conditions for which no treatments are available. Matt Buten , Chief Financial Officer at Biohaven , commented, "We are pleased to have both the support and confidence of Oberland Capital , an exceptional partner with a proven track record in funding companies through the complexities of rare disease product launches. Our ability to secure this flexible, long-term, non-dilutive financing agreement speaks not only to the vast potential afforded by troriluzole, the product of more than 8 years of clinical research and deep collaborations across the SCA community, but also to Oberland Capital's confidence in our broader portfolio of five innovative platforms spanning immunology & inflammation, neuroscience, and oncology. This agreement with Oberland Capital provides us with the support and flexibility to continue advancing our pipeline as we make launch preparations in parallel, and we are excited to accelerate our planning efforts in earnest." Andrew Rubinstein , Managing Partner at Oberland Capital , stated, " Biohaven is in a unique position to address major areas of unmet need in rare disease, and we are particularly enthusiastic about supporting Biohaven as they strive to bring a novel medication like troriluzole to the SCA patient community." Mr. Rubinstein added, "We look forward to working with the team at Biohaven to unlock the tremendous potential that resides in their broad portfolio of innovative therapies." The investment from Oberland Capital takes the form of a Note Purchase Agreement (NPA) that is non-dilutive to current investors. Pursuant to the NPA, Oberland may purchase up to $600 million of Biohaven's senior secured notes, of which $250 million will be funded on or before April 30, 2025 , $150 million will be funded at the Company's option contingent upon FDA approval of troriluzole, and subject to the satisfaction of certain additional conditions, $200 million will be funded upon the mutual agreement of the parties for permitted strategic acquisitions and related costs and expenses. The purchases are subject to other terms and conditions as set forth in the NPA. Under the terms of the NPA, Oberland Capital will have a right to receive a regulatory approval milestone payment, payable quarterly through December 31, 2030 , and tiered single-digit royalty payments on global net sales of troriluzole for up to a maximum of 10 years from the closing date. These payments are capped at a multiple of amounts funded by Oberland Capital . Covington & Burling LLP served as legal advisor to Biohaven and Cooley LLP advised Oberland Capital . About TroriluzoleTroriluzole is a new chemical entity (NCE) and third-generation novel prodrug that modulates glutamate, the most abundant excitatory neurotransmitter in the human body. The primary mode of action of troriluzole is reducing synaptic levels of glutamate. Troriluzole increases glutamate uptake from the synapse, by augmenting the expression and function of excitatory amino acid transporters located on glial cells that play a key role in clearing glutamate from the synapse. Troriluzole has the potential to be developed in a number of other diseases associated with excessive glutamate. More information about troriluzole can be found at the Company's website: https://www.biohaven.com/pipeline/clinical-programs/glutamate/. About Biohaven Biohaven is a biopharmaceutical company focused on the discovery, development, and commercialization of life-changing treatments in key therapeutic areas, including immunology, neuroscience, and oncology. Biohaven is advancing its innovative portfolio of therapeutics, leveraging its proven drug development experience and multiple proprietary drug development platforms. Biohaven's extensive clinical and preclinical programs include Kv7 ion channel modulation for epilepsy and mood disorders; MoDE™ and TRAP™ extracellular protein degradation for immunological diseases; TRPM3 antagonism for migraine and neuropathic pain; TYK2/JAK1 inhibition for neuroinflammatory disorders; glutamate modulation for OCD and SCA; myostatin inhibition for neuromuscular and metabolic diseases, including SMA and obesity; antibody recruiting bispecific molecules; and antibody drug conjugates for cancer. About Oberland Capital Oberland Capital is a private investment firm formed in 2013 with assets under management in excess of $3.0 billion , focused exclusively on investing in the global healthcare industry and specializing in flexible investment structures customized to meet the specific needs of its transaction partners. Oberland Capital's broad suite of financing solutions includes monetization of royalty streams, acquisition of future product revenues, creation of project-based financing structures, and investments in traditional debt and equity. With a combination of deep industry knowledge and extensive structured finance experience, the Oberland Capital team has a history of creating value for its transaction partners. For more information, please visit www.oberlandcapital.com. Forward-looking StatementsThis news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected timing and amounts of funding under the NPA. The use of certain words, including "continue", "plan", "will", "believe", "may", "expect", "anticipate", "potential first-in-class", "disrupt", "potentially revolutionize", "groundbreaking", "potential first and best-in-class" and similar expressions, is intended to identify forward-looking statements. Investors are cautioned that any forward-looking statements, including statements regarding the future development, timing and potential marketing approval and commercialization of development candidates, are not guarantees of future performance or results and involve substantial risks and uncertainties. Actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors including: the expected timing, commencement and outcomes of Biohaven's planned and ongoing clinical trials; the timing of planned interactions and filings with the FDA; the timing and outcome of expected regulatory filings; complying with applicable US regulatory requirements; the potential commercialization of Biohaven's product candidates; and the effectiveness and safety of Biohaven's product candidates. Additional important factors to be considered in connection with forward-looking statements are described in Biohaven's filings with the Securities and Exchange Commission , including within the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". The forward-looking statements are made as of the date of this news release, and Biohaven does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. MoDE and TRAP are trademarks of Biohaven Therapeutics Ltd. Investor Contact: Jennifer Porcelli Vice President, Investor Relationsjennifer.porcelli@biohavenpharma.com +1 (201) 248-0741 Media Contact: Mike Beyer Sam Brown Inc. mikebeyer@sambrown.com +1 (312) 961-2502 View original content to download multimedia:https://www.prnewswire.com/news-releases/biohaven-announces-investment-up-to-600-million-by-oberland-capital-302439445.html SOURCE Biohaven Ltd.

A roundup of the most newsworthy healthcare press releases from PR Newswire this week, including Google Cloud's commitment to AI-powered cancer research and Sun Pharma's partnership with a music icon. NEW YORK, April 11, 2025 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help healthcare journalists and consumers stay on top of the week's most newsworthy and popular releases, here's a recap of some major stories from the week that shouldn't be missed. The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download. Continue Reading PR Newswire Weekly Health Press Release Roundup, April 7-11, 2025. Google Cloud and Ai2 Commit $20M to Advance AI-Powered Research for the Cancer AI Alliance Through the partnership, Google Cloud will power planet-scale AI infrastructure and data analytics tools, while Ai2 will provide critical expertise in training large-scale models focusing on cancer research. Music Icon Art Garfunkel Opens Up About His Experience with Psoriasis for The First Time in Partnership with Sun Pharma 8X Grammy Award-winning artist and Rock and Roll Hall of Fame inductee, Art Garfunkel, reveals his experience with ILUMYA® (tildrakizumab-asmn), stating, "I am finally ready to give my history with psoriasis a voice." H.I.G. Capital Completes Acquisition of GetixHealth "GetixHealth is a vital partner to healthcare providers, including many of the nation's largest health systems," says Anthony Chambers, Managing Director at H.I.G., referencing GetixHealth's revenue cycle management (RCM) solutions and comprehensive suite of services. CVS Health Announces Chief Financial Officer Transition Plan; Appoints Chief Medical Officer Brian Newman has been named executive vice president and chief financial officer designate, effective April 21. Amy Compton-Phillips, M.D., is the company's new executive vice president and chief medical officer, effective May 19. Breakthrough Prize Announces 2025 Laureates in Life Sciences, Fundamental Physics, and Mathematics "This year's Breakthrough Prize laureates have made amazing strides – including treatments for major diseases affecting millions of people worldwide – showing once again the transformative power of curiosity-driven basic science," said Priscilla Chan and Mark Zuckerberg. Proprio Receives FDA Clearance For the World's First AI Surgical Guidance Platform This is the first-ever technology that enables 3D, dynamic and segmental viewing of the anatomy, and marks the first time in history that surgeons will be able to measure success in real-time during surgery. Healthcare Brands to Gain Enhanced Engagement through CMI Media Group and Compas Collaboration with Microsoft Advertising "This represents a major milestone for the healthcare industry combining valuable expertise and reach. With this unique agreement, we can offer all of our clients expanded benefits to engaging with us for their search engine marketing and display investments," said Justin Freid, Chief Media & Innovation Officer, CMI Media Group. LG Expands Mental Health Support for NCAA Final Four Host Schools with NAMI Partnership The donation will enable each university's NAMI on Campus club to expand its programming, increase awareness of mental health resources and provide peer support for students facing challenges. In addition, each university will receive LG's innovative Counter-Depth MAX™ refrigerator with Zero Clearance™ for their student meeting spaces. Health Advocates Team-Up with #WearSunscreen Campaign to Spread the Word About Sun Safety "Just like brushing your teeth or clicking your seatbelt, wearing sunscreen should be a consistent part of your daily routine all year long," said Dr. Jane Yoo, a board-certified dermatologist and dermatologic surgeon in New York City. MADD and Nationwide Launch "Prom Promise" Campaign to Help Parents Prevent Underage Drinking This Prom Season At the heart of the Prom Promise campaign is MADD's Prom Promise Contract — an agreement parents and teens sign together to commit to a safe, substance-free prom night. Through this pledge, families establish clear expectations, boundaries, and a shared understanding of the serious risks associated with underage substance use and impaired driving. New Survey Reveals Nearly 75% of Nurses Unaware of Potential Health Risks in IV Bags Nearly 75% of nurses polled were unaware that the majority of IV bags used in the U.S. contain Di(2-ethylhexyl) Phthalate (DEHP), and more than 50% were unaware that the state of California has determined DEHP to be a reproductive and developmental toxicant and carcinogen. Quest Diagnostics Launches New AD-Detect™ Blood Test to Aid in Confirming Alzheimer's Disease "Quest's AD-Detect suite of advanced diagnostics has grown to include a range of validated blood-based biomarkers, giving providers options for personalizing testing for the individual patient," said Kathleen Valentine, Vice President and General Manager, Neurology, Quest Diagnostics. New Landmark Study Reveals Brain Blood Flow as Key Biomarker in Depression--Amen Clinics Plays Pivotal Role This landmark research demonstrates that functional brain changes—specifically decreased blood flow—are more accurate markers of depression than structural brain changes like cortical thinning, which have historically shown weak and inconsistent associations. AbbVie Announces European Commission Approval of RINVOQ® (upadacitinib) for the Treatment of Adults with Giant Cell Arteritis The approval is supported by data from the pivotal Phase 3 SELECT-GCA trial which demonstrated that RINVOQ achieved the primary endpoint of sustained remission and key secondary endpoints, including reduction in disease flares, lower cumulative steroid exposure and complete remission. Biohaven Presents Data Across Innovative Neuroscience Portfolio at the 2025 American Academy of Neurology (AAN) Annual Meeting The presentations highlight Biohaven's innovative neuroscience pipeline across multiple early and late-stage development programs including Kv7 ion channel modulation, extracellular protein degradation, TRPM3 antagonism, TYK2/JAK1 inhibition, and glutamate modulation. For more news like this, check out all of the latest health-related releases from PR Newswire. Do you have a health press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most. Helping Journalists Stay Up to Date on Industry News These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists. 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SAN DIEGO and NEW HAVEN, Conn. , April 5, 2025 /PRNewswire/ -- Biohaven Ltd. (NYSE: BHVN) announced today that it will present 13 abstracts at the 2025 American Academy of Neurology (AAN) Annual Meeting, taking place from April 5 to April 9, 2025 in San Diego, California . The presentations highlight Biohaven's innovative neuroscience pipeline across multiple early and late-stage development programs including Kv7 ion channel modulation, extracellular protein degradation, TRPM3 antagonism, TYK2/JAK1 inhibition, and glutamate modulation. Irfan Qureshi , M.D., Chief Medical Officer of Biohaven , commented, "We are excited to highlight our clinical and scientific progress at the AAN Annual Meeting, including 3 oral presentations and 10 poster presentations, emphasizing Biohaven's innovation, leadership and commitment to developing potential first-in-class therapies for debilitating neurological disorders with inadequate or no treatment options. The team at Biohaven has been working urgently to advance our next-generation medicines as we aim to transform the way these diseases are treated. We look forward to achieving critical value-creating milestones throughout 2025 as we advance these assets across multiple high unmet need indications." The complete list of Biohaven's accepted abstracts is below. Full abstracts can be viewed online at https://index.mirasmart.com/AAN2025/. Oral Presentations: BHV-8000, a Selective Brain-penetrant TYK2/JAK1 Inhibitor in Development for Neuroinflammatory and Neurodegenerative Diseases, Demonstrates Efficacy in an Alpha-Synuclein Overexpressing Parkinson's Disease Mouse ModelS4: Movement Disorders: Basic ScienceSunday 4/6/25 1:00-3:00pm ( 2:00-2:12pm ) Safety, Tolerability, and Pharmacokinetics of BHV-2100, a First-in-class TRPM3 Antagonist for Pain and MigraineS11: PainMonday 4/7/25 11:15am-12:15pm ( 11:51am-12:03pm ) Novel Bispecific Degrader BHV-1310 Achieves Rapid, Robust, and Selective IgG Reduction in Preclinical Models including Nonhuman PrimatesS18.009Monday 4/7/25 1:00-3:00pm ( 2:36-2:48pm ) Poster Presentations: A Qualitative Assessment of the Epilepsy Patient Experience Through Social Media and Web-Based ForumsP2: Epilepsy/Clinical Neurophysiology (EEG): Clinical Outcomes in EpilepsySunday 4/6/25 8:00-9:00am Novel Bispecific Degrader BHV-1310 Eliminates Intravascular and Interstitial IgG within Multiple Organs and Anatomical Structures Including the Neuromuscular JunctionP4: Autoimmune Neurology: Peripheral Autoimmune NeurologySunday 4/6/25 5:00-6:00pm Comparative Effectiveness of Troriluzole Versus Untreated Natural History Cohorts in Spinocerebellar Ataxia Leveraging Propensity Score Matching MethodsP6: Movement Disorders: Ataxia 1Monday 4/7/25 11:45-12:45 BHV-2100, a First-in-Class TRPM3 Antagonist in Development for the Treatment of MigraineP7: Headache: Advances in Headache Treatment 1Monday 4/7/25 5:00-6:00pm Re-weighting MDS-UPDRS Parts II and III Items to Improve Assessment of Motor Decline in Untreated Parkinson's DiseaseP7: Movement Disorders: Parkinson's Disease ManagementMonday 4/7/25 5:00-6:00pm Re-weighting MDS-UPDRS Part II and PDQ-39 Items to Detect Maximal Decline in Activities of Daily Living in Untreated Parkinson's diseaseP7: Movement Disorders: Parkinson's Disease ManagementMonday 4/7/25 5:00-6:00pm A Modern Design for a Phase 2/3 Randomized, Double-blind, Placebo-Controlled Study to Evaluate Efficacy and Safety of BHV-7000 in Idiopathic Generalized Epilepsy with Generalized Tonic-Clonic SeizuresP8: Epilepsy/Clinical Neurophysiology (EEG): Anti-seizure Medications: Clinical TrialsTuesday 4/8/25 8:00-9:00am BHV-8000, a Selective Brain-Penetrant TYK2/JAK1 Inhibitor in Development for Neuroinflammatory and Neurodegenerative Diseases, Demonstrates Favorable PK/PD and Safety Profile in Phase 1 StudiesP9: General Neurology: New, Potential, and Innovative Treatments 1Tuesday 4/8/25 11:45am-12:45pm Phase 1 Multiple Ascending Dose Studies Demonstrate Favorable Safety and Tolerability of BHV-7000, a Novel Kv7 Potassium Channel ActivatorP9: Epilepsy/Clinical Neurophysiology (EEG): Anti-seizure Medications: Mechanisms and PharmacologyTuesday 4/8/25 11:45am-12:45pm Incorporating Patient Perspectives into a Composite Score for Measuring Disease Progression in Spinocerebellar Ataxia (SCA)P12: Movement Disorders: Ataxia 2Wednesday 4/9/25 11:45-12:45 Posters and presentations will be available on the Posters and Presentations page after the conference at www.biohaven.com. About Biohaven Biohaven is a biopharmaceutical company focused on the discovery, development, and commercialization of life-changing treatments in key therapeutic areas, including immunology, neuroscience, and oncology. The company is advancing its innovative portfolio of therapeutics, leveraging its proven drug development experience and multiple proprietary drug development platforms. Biohaven's extensive clinical and preclinical programs include Kv7 ion channel modulation for epilepsy and mood disorders; extracellular protein degradation for immunological diseases; TRPM3 antagonism for migraine and neuropathic pain; TYK2/JAK1 inhibition for neuroinflammatory disorders; glutamate modulation for OCD and SCA; myostatin inhibition for neuromuscular and metabolic diseases, including SMA and obesity; antibody recruiting bispecific molecules; and antibody drug conjugates for cancer. Forward-looking StatementsThis news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The use of certain words, including "continue", "plan", "will", "believe", "may", "expect", "anticipate", "potential first-in-class", "disrupt", "potentially revolutionize", "groundbreaking" and similar expressions, is intended to identify forward-looking statements. Investors are cautioned that any forward-looking statements, including statements regarding the future development, timing and potential marketing approval and commercialization of development candidates, are not guarantees of future performance or results and involve substantial risks and uncertainties. Actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors including: the expected timing, commencement and outcomes of Biohaven's planned and ongoing clinical trials; the timing of planned interactions and filings with the FDA; the timing and outcome of expected regulatory filings; complying with applicable US regulatory requirements; the potential commercialization of Biohaven's product candidates; and the effectiveness and safety of Biohaven's product candidates. Additional important factors to be considered in connection with forward-looking statements are described in Biohaven's filings with the Securities and Exchange Commission, including within the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". The forward-looking statements are made as of the date of this news release, and Biohaven does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Investor Contact: Jennifer Porcelli Vice President, Investor Relationsjennifer.porcelli@biohavenpharma.com+1 (201) 248-0741 Media Contact: Mike Beyer Sam Brown Inc.mikebeyer@sambrown.com+1 (312) 961-2502 View original content to download multimedia:https://www.prnewswire.com/news-releases/biohaven-presents-data-across-innovative-neuroscience-portfolio-at-the-2025-american-academy-of-neurology-aan-annual-meeting-302421403.html SOURCE Biohaven Ltd.