Biohaven Announces Investment up to $600 Million by Oberland Capital

Core Viewpoint - Biohaven Ltd. has entered into a significant investment agreement with Oberland Capital Management for up to $600 million, aimed at supporting ongoing clinical trials and commercialization efforts for its product, troriluzole, targeting spinocerebellar ataxia (SCA) [1][2][3] Group 1: Investment Details - The agreement includes an initial funding of$250 million to be provided at closing on or before April 30, 2025 [1][6] - An additional $150 million is contingent upon FDA approval of troriluzole, with further funding of up to$200 million available for strategic acquisitions and related expenses [3][6] - The investment is structured as a Note Purchase Agreement (NPA) that is non-dilutive to existing shareholders [3][6] Group 2: Product and Market Potential - Troriluzole is a novel prodrug designed to modulate glutamate levels, which has potential applications in various diseases beyond SCA [5][8] - The investment will facilitate the advancement of Biohaven's pipeline, which includes five innovative platforms across immunology, neuroscience, and oncology [3][8] Group 3: Strategic Partnership - Oberland Capital expresses confidence in Biohaven's ability to address unmet needs in rare diseases and is committed to supporting the launch of troriluzole [3][9] - The partnership is expected to leverage Oberland's expertise in funding rare disease product launches, enhancing Biohaven's operational capabilities [3][9]