Biohaven Pharmaceuticals has started late-stage human testing on a new pill for migraine prevention, a milestone that entitles the company to a $100 million payout under a 2020 deal with Royalty Pharma.
Biohaven announced this week that it has enrolled the first patient in a Phase 2/3 trial of zavegepant, the second oral migraine drug in its portfolio behind its recently approved flagship Nurtec ODT.
Biohaven sold 3% percent of the future royalties on the drug (as well as .4% of Nurtec ODT royalties) to New York-based Royalty Pharma for $250 million last summer.
Under the deal, Royalty agreed to pay $150 million up front and another $100 million when Biohaven began Phase 3 testing on the drug.
Zavegepant is a CGRP (calcitonin gene-related peptide) receptor antagonist, which is the same class of drug as the company’s acute migraine pill Nurtec ODT (orally disintegrating tablet), which the FDA approved in early 2020. Biohaven is also conducting late-stage human testing on Nurtec as a migraine preventative.
Biohaven said it would use the Royalty Pharma cash to advance zavegepant for migraine and explore its use for other pain-related and non-migraine conditions.
The company is also testing a nasal spray version of the drug for both migraine and COVID-19.
“By expanding beyond our migraine franchise, we are hoping to meet the needs of people impacted by the debilitating aspects of multiple CGRP-mediated diseases,” Chief Medical Officer Dr. Elyse Stock said in a statement.
The trial will enroll around 2,900 people with migraine and evaluate the drug’s safety at doses of 100 and 200 mgs., Biohaven said.
Contact Natalie Missakian at news@newhavenbiz.com
