Biohaven licenses BHV-1300 and related IgG degraders to Ono in Asia for $80 million upfront
Biohaven entered into a Collaboration and License Agreement with Ono Pharmaceutical dated October 8, 2026, granting Ono an exclusive, royalty-bearing license to develop and commercialize its MoDE pan IgG degrader portfolio in Japan, South Korea, Taiwan and the ASEAN countries. Biohaven retains rights outside that territory, including the United States, Europe and China. The deal provides Biohaven up to $100 million in near-term payments, which the company says is non-dilutive capital.
Key points
- Ono pays a one-time, non-refundable upfront payment of $80 million upon closing.
- Biohaven is eligible for another $20 million upon a milestone, tied to Ono's stability test results and its election to continue development; the press release anticipates this milestone within a year.
- Ono will pay royalties of approximately 20% on net sales of licensed products in the licensed territory, subject to specified reductions.
- Ono may terminate the agreement for convenience on specified prior written notice, in whole or by product or country.
The filing
Written by AI on Nov 9, 2026, 11:44 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 15, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.