Ligand signs Captisol license deal with Avion Pharmaceuticals
Ligand Pharmaceuticals (Nasdaq: LGND) has signed a commercial license agreement with fellow USA-based Avion Pharmaceuticals, for the development and commercialization of four Captisol-enabled programs. Ligand’s shares gained 2.3% to $56.24 in after-hours trading yesterday.
Under the terms of the agreement, Ligand is entitled to an up-front payment, and is eligible to receive revenue from Captisol material sales, potential milestone payments, and royalties on future net sales of the products containing Captisol. Further financial terms were not disclosed.
Adds four additional fully-funded programs
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