SK Biopharmaceuticals will invest about KRW 1.1 trillion to newly secure an epilepsy drug candidate in the late clinical stage. The investment is aimed at developing a second global epilepsy treatment following “Xcopri,” which SK Biopharmaceuticals developed in-house and currently sells in the United States. It is regarded as one of the largest overseas new drug in-licensing deals disclosed to date by domestic pharmaceutical and biotechnology companies.

SK Biopharmaceuticals announced on the 26th that it has secured worldwide exclusive rights from global biotech company Biohaven for “opacalim,” a new drug candidate currently in global Phase 2 and 3 clinical trials, along with other Kv7 series candidates and a drug discovery platform. Opacalim reduces seizures by activating the “Kv7 potassium channel,” which suppresses excessive electrical signals in brain nerve cells. The existing clinical trials will continue to be conducted by Biohaven, while SK Biopharmaceuticals will bear the costs.

At a press conference held at The Westin Josun Seoul in Jung-gu, Seoul, on the same day, SK Biopharmaceuticals President and CEO Lee Dong-hoon said, “We focused on expanding what we do best and finding products that can strengthen our position in the market.”

The total contract value is up to USD 795 million (about KRW 1.0995 trillion), equivalent to 156% of SK Biopharmaceuticals’ consolidated revenue last year. The non-refundable upfront payment alone amounts to USD 400 million (about KRW 553.2 billion). If clinical development and approvals progress, the company will pay up to an additional USD 395 million in milestone payments.

The contract covers not only opacalim but also follow-up candidates that act through the same mechanism and a technology platform for discovering new drugs. Leveraging this, the company plans to continue developing Kv7 series drugs to maintain a leading position in the epilepsy treatment market. Yoo Chang-ho, Head of Strategy, said, “We believe we can expand the market by administering Xcopri, which is currently on sale, to patients who need a strong therapeutic effect, and opacalim to patients for whom safety is a priority,” adding, “If the clinical trials are successfully completed, we expect to launch opacalim in the U.S. market around 2029.”

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