---
schema_version: "secwatch.filing_event.v1"
accession: "0001935979-26-000080"
form_type: "8-K"
ticker: "BHVN"
cik: "0001935979"
company_name: "Biohaven Ltd."
filed_at: "2026-10-15T21:18:55+00:00"
generated_at: "2026-10-15T21:20:07.321960+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Biohaven licenses MoDE IgG degraders to Ono for $80M upfront, up to $100M near-term, ~20% royalties in Asia

## Summary
- Ono gets exclusive rights to develop/commercialize BHV-1300, BHV-1310, BHV-1320 in Japan, South Korea, Taiwan, and ASEAN; Biohaven retains US, Europe, China rights.
- Deal: $80M upfront at closing, $20M milestone anticipated within a year, ~20% royalties on net sales; Ono funds specified territory activities and shares global study costs.
- BHV-1300 is in Phase 3 for Graves' disease; Phase 1b showed deep reduction in TSH-receptor autoantibody, normalized free T3/T4, IgG3 sparing.
- Up to 87% total IgG reduction observed in Phase 1 studies; autoinjector self-administration; potential first-in-class extracellular IgG degrader.
- J.P. Morgan is financial advisor; Sullivan & Cromwell legal advisor. Ono ticker TYO:4528; agreement dated Oct 8, 2026.

## SEC filing metadata
- accession: 0001935979-26-000080
- form_type: 8-K
- ticker: BHVN
- cik: 0001935979
- company_name: Biohaven Ltd.
- filed_at: 2026-10-15T21:18:55+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1935979/000193597926000080/0001935979-26-000080-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1935979/000193597926000080/bhvn-20261008.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001935979-26-000080
- JSON: https://secwatch.observer/filing/0001935979-26-000080.json
- Plain text: https://secwatch.observer/filing/0001935979-26-000080.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.