Biohaven Secures Up to $600M Investment from Oberland Capital
Deal News | Apr 28, 2025 | Oberland Capital Management LL
Biohaven Ltd., a global clinical-stage biopharmaceutical company, has announced a substantial financial collaboration with Oberland Capital Management LLC. The agreement entails an investment of up to $600 million directed towards Biohaven’s discovery, development, and commercialization efforts of innovative therapies. The deal is centered on troriluzole, a promising treatment for spinocerebellar ataxia (SCA). Initially, $250 million will be disbursed by April 30, 2025, contributing to Biohaven's clinical trials and preparatory commercialization activities. An additional $150 million is contingent on regulatory milestones associated with troriluzole, while another $200 million could be issued for strategic acquisitions. Oberland Capital’s investment, structured as a non-dilutive Note Purchase Agreement, reflects their confidence in Biohaven’s capability to address critical rare disease needs and its portfolio. Covington & Burling LLP advised Biohaven, and Cooley LLP represented Oberland Capital. The investment not only emphasizes the potential of troriluzole but also supports Biohaven’s vast research areas, including neuroscience and immunology.
Sectors
- Biopharmaceutical
- Private Equity
- Healthcare
Geography
- United States – Biohaven is based in New Haven, Connecticut, and the investment involves U.S.-based clinical trials and potential commercialization in anticipation of FDA approval.
Industry
- Biopharmaceutical – Biohaven operates in the biopharmaceutical sector, focusing on developing and commercializing novel therapies for rare and common diseases.
- Private Equity – Oberland Capital is involved in the private equity sector, providing structured financial solutions and investments in healthcare companies like Biohaven.
- Healthcare – The investment focuses on healthcare, specifically targeting therapeutic advancements for diseases lacking effective treatments, such as spinocerebellar ataxia (SCA).
Financials
- $600 million – The total potential investment amount from Oberland Capital into Biohaven.
- $250 million – The initial tranche of the investment to be funded at closing on or before April 30, 2025.
- $150 million – Additional capital contingent on regulatory milestones related to troriluzole.
- $200 million – Potential funds available for strategic acquisitions, contingent on mutual agreement.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Biohaven Ltd. | Target | Company | A clinical-stage biopharmaceutical company focused on therapies for rare and common diseases. |
| Oberland Capital Management LLC | Bidding Company | Company | A private investment firm specializing in flexible investment structures in the healthcare industry. |
| Covington & Burling LLP | Legal Advisor | Company | Provided legal advisory services to Biohaven for the investment agreement. |
| Cooley LLP | Legal Advisor | Company | Advised Oberland Capital on the legal aspects of the investment agreement. |