Biohaven, after setbacks, sees shares jump with Oberland Capital funding agreement worth up to $600M

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Biohaven Secures $600M Funding Deal with Oberland Capital

Biohaven has entered into a note purchase agreement with Oberland Capital worth up to $600 million13
The deal involves $250 million to be funded by April 30, 2025, with an additional $150 million tied to FDA approval of troriluzole for spinocerebellar ataxia15
A final tranche of up to $200 million could fund strategic acquisitions, contingent on mutual agreement15
Biohaven's shares jumped 6% in premarket trading following the announcement4
In exchange, Oberland will receive milestone payments upon regulatory approval plus tiered single-digit royalties on global net sales for up to 10 years13
The funding will support Biohaven's clinical trials portfolio and commercialization efforts for troriluzole, which is awaiting FDA approval with a decision expected in Q3 202535
Biohaven has faced recent setbacks, including a failed Phase 2/3 study for BHV-7000 in bipolar disorder and disappointing Phase 3 results for taldefgrobep in spinal muscular atrophy1
The investment represents non-dilutive capital, preserving shareholder equity while providing significant financial resources5

Sources:

1. https://www.fiercebiotech.com/biotech/biohaven-after-setbacks-sees-shares-jump-600m-oberland-capital-funding-agreement

3. https://www.biospace.com/business/biohaven-grabs-a-foothold-with-600m-windfall-from-oberland-capital

4. https://finimize.com/content/biohaven-lands-major-600-million-deal-with-oberland-capital

5. https://www.prnewswire.com/news-releases/biohaven-announces-investment-up-to-600-million-by-oberland-capital-302439445.html