The agreement grants Ono exclusive rights to Biohaven’s MoDE platform, including BHV-1300 and next-generation candidates BHV-1310 and BHV-1320. In exchange, Biohaven stands to receive up to $100 million in near-term payments, comprising an $80 million upfront fee and a $20 million milestone payment expected within the next year. Additionally, the company is set to receive royalties of approximately 20 percent on net sales within the licensed territories.

BHV-1300, a small-molecule degrader designed to remove pathogenic autoantibodies while sparing essential immune functions, is currently in Phase 3 development. By leveraging Ono’s established infrastructure in key Asian markets, Biohaven aims to accelerate the delivery of this targeted therapy. The company retains full control over its assets in the United States, Europe, and China, maintaining the core of its global development strategy while securing non-dilutive capital for further research.