Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) disclosed that its business unit Biohaven Therapeutics Ltd has inked an exclusive global license and research agreement with KU Leuven to develop and market first-in-class TRPM3 antagonists to tackle the increasing proportion of chronic pain disorders experienced by people all around the world.

As per the agreement, Biohaven Therapeutics obtains exclusive global rights to develop, produce and market KU Leuven's small-molecule TRPM3 antagonists. Biohaven Therapeutics will back further basic and translational research at KU Leuven on the role of TRPM3 in pain and other disorders.

In addition, as per the agreement, KU Leuven will get an upfront payment and is entitled to obtain additional development, regulatory, and marketing accomplishments. Furthermore, KU Leuven will be entitled to obtain mid-single digit royalties on net sales of products resulting from the partnership.

Moreover, Managing Director CD3 disclosed that their long-lasting and successful collaboration with LICR has allowed the TRPM3 antagonist program to attain this important accomplishment. Biohaven has a successful track record of developing and introducing novel therapies, and CD3 is happy to collaborate with Biohaven through this global license and research collaboration agreement.

BHVN disclosed that through this cooperation with CD3 and KU Leuven, it will be able to add to its portfolio of innovative medicines treating pain diseases, which currently includes its migraine-focused CGRP franchise. TRPM3 antagonism is a viable way to advance new pain medications, as there is an immediate unfulfilled necessity for reliable, adequate pain therapies. The company is thrilled to partner with these academic leaders to push BHV-2100 into clinical development, based on the detailed description of the process and excellent experimental results provided to date by KU Leuven.