Biohaven Inks License Deal With Bristol Myers For Worldwide Rights To Taldefgrobep Alfa

(RTTNews) - Biohaven Pharmaceutical Holding Co. Ltd. (BHVN), on Friday, said that it has acquired worldwide rights to investigational drug Taldefgrobep alfa from Bristol Myers Squibb (BMY), thereby expanding its late-stage product candidates for the treatment of neurologic, neuroinflammatory, and neuropsychiatric disorders.

Taldefgrobep alfa, a modified adnectin, is being developed for the treatment of spinal muscular atrophy, a rare genetic neurodegenerative disorder. Taldefgrobep is the third development asset licensed to Biohaven from Bristol Myers.

Biohaven plans to initiate a phase III clinical trial of Taldefgrobep in spinal muscular atrophy this year.

Bristol Myers Squibb will be eligible for regulatory approval milestone payments, as well as tiered, sales-based royalties beginning in the high teens.