Royalty Pharma and Biohaven Announce Funding Agreement Totaling up to $450 Million (Royalty Pharma)

• ​​​​​​Biohaven will receive up to $250 million to fund zavegepant’s development in migraine and non-migraine indications
• Royalty Pharma to acquire up to a 3% royalty for zavegepant, a 0.4% royalty of Nurtec^TM ODT and success-based milestone payments
• Royalty Pharma will purchase new Commercial Launch Preferred Equity from Biohaven for a total of $200 million payable between 2021 and 2024, providing additional funding for its CGRP-targeting franchise

Cooley acted as legal advisor to Biohaven on the transaction. Goodwin Procter, Jones Day and Maiwald acted as legal advisors to Royalty Pharma.

This text is a press release from Royalty Pharma.