SK Biopharmaceuticals (326030) CEO Lee Dong-hoon bought 2,000 company shares for about ₩180 million ($130,000) on Aug. 27, a day after the company announced an exclusive global licensing deal with U.S.-based Biohaven for Opakalim (BHV-7000), other Kv7 compounds and a drug discovery platform. The purchase, disclosed Aug. 31, was made at an average of ₩90,898 per share and lifted Lee's holdings to 5,000 shares from 3,000. The deal is worth up to $795 million (about ₩1.1 trillion), including a $400 million upfront payment and $395 million in development and regulatory milestones, plus separate commercial royalties. Strategy chief Yoo Chang-ho, who led the transaction, also bought 500 shares. Opakalim is a once-daily oral candidate that selectively activates Kv7.2 and Kv7.3 potassium channels and is being tested in the Phase 2/3 RISE-2 and RISE-3 trials for adults with focal seizures. A U.S. launch could come as early as 2029 if development and regulatory review proceed as planned. SK Biopharmaceuticals plans to market it through the more than 150-person U.S. sales force established for Cenobamate, reducing reliance on a single product and potentially supporting growth after Cenobamate's patent expiration. The company's shares rose 8.5% when the deal was announced, but RISE-3 topline results expected in the second half of this year will be the first major test of the investment. Earlier open-label data showed at least a 50% seizure reduction for 54% of patients receiving 75 milligrams over six consecutive months, although the lack of a placebo control prevents conclusions about superiority. Investors are also monitoring Opakalim's previous failures in Phase 2 major depressive disorder and a late-stage bipolar disorder trial.