Ligand likes of the look of Dianomi to boost revenues 'late into 2030s'

US biopharma Ligand Pharmaceuticals (Nasdaq: LGND) has invested in Dianomi Therapeutics, a company focused on improving the delivery and efficacy of large and small molecules in the treatment of a variety of diseases and on therapies for inflammatory diseases, such as osteoarthritis and pain.

Ligand has paid a sum of $3 million in exchange for a tiered royalty of 2% to 3% based on level of net sales for the first five products to be approved using Dianomi’s patented Mineral Coated Microparticle (MCM) technology, and a loan convertible into $1 million of equity at the next qualified financing.

While Ligand will provide technical and scientific advisory assistance to Dianomi for one year, it will not incur any expenses to develop or commercialize any MCM programs.