Ropes & Gray represented Pfizer in the deal.
Pfizer announced its collaboration arrangement with Biohaven Pharmaceutical Company to commercialize rimegepant, a therapy approved in the U.S. as Nurtec ODT for the acute treatment of migraine attacks with or without aura and the preventative treatment of episodic migraine in adults.
Under the terms of the arrangement, Biohaven would remain primarily responsible for further clinical development of rimegepant and the parties will cooperate in regulatory activities to secure approval for the product. Biohaven will continue to solely commercialize Nurtec ODT in the U.S and Pfizer would commercialize rimegepant, upon approval, in all regions outside the U.S.
Under the financial terms of all transaction agreements, Pfizer will make an upfront payment of $500 million, consisting of $150 million cash and $350 million in the purchase of Biohaven equity. Biohaven is also eligible to receive up to $740 million in milestones in addition to tiered double-digit royalties.
Biohaven is a commercial-stage biopharmaceutical company with a portfolio of innovative, best-in-class therapies to improve the lives of patients with debilitating neurological and neuropsychiatric diseases, including rare disorders.
Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time.
The Ropes & Gray team was led by life sciences partner Amanda Austin (Picture) and capital markets partner Zachary Blume (both of Boston) and IP transactions associates Ana Gomez-Palazzo and William Perez (both of Boston), Samantha Ong (San Francisco) and Kayla Sylvia (Boston) and included business restructuring partner Jim Wilton, tax partner David Saltzman, litigation & enforcement partner Richard Batchelder, business restructuring counsel Patricia Chen (all of Boston) and tax associate Chris Shim (New York).
Involved fees earner: Amanda Austin – Ropes & Gray; Richard Batchelder – Ropes & Gray; Zachary Blume – Ropes & Gray; Patricia Chen – Ropes & Gray; Ana Gomez-Palazzo – Ropes & Gray; Samantha Ong – Ropes & Gray; William Perez – Ropes & Gray; David Saltzman – Ropes & Gray; Chris Shim – Ropes & Gray; James Wilton – Ropes & Gray;
Law Firms: Ropes & Gray;