Biohaven wins $600 million investment from Oberland Capital

29 April 2025

Shares of US clinical-stage biotech Biohaven (NYSE: BHVN) rose 9.6% to $21.74 yesterday, after it announced an agreement with Oberland Capital Management for an investment of up to $600 million in the company, with the first tranche of $250 million of gross proceeds to be funded at closing on or before April 30, 2025.

The additional capital provides significant financial resources for ongoing clinical trials across the company's full development portfolio and supports commercialization efforts in anticipation of a potential US Food and Drug Administration (FDA) approval of troriluzole for the treatment of patients with spinocerebellar ataxia (SCA), a group of rare and ultra-rare progressively debilitating and fatal genetic conditions for which no treatments are available.

If approved, it would mark Biohaven's first commercial product since Pfizer (NYSE: PFE) scooped up its migraine portfolio for $11.6 billion back in 2022, prompting the current version of Biohaven to spin out as an independent company.

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