Ligand to buy Pfenex in deal worth potential $516 million

11 August 2020

Ligand Pharmaceuticals (Nasdaq: LGND) has announced a deal to buy fellow Californian company Pfenex (NYSE AMERICAN: PFNX).

Subject to a predefined regulatory milestone being achieved by December 31, 2021, the value of the deal could reach $516 million.

Pfenex is a development and licensing biotech focused on leveraging its proprietary Pfenex Expression Technology, which offers a robust, validated, cost-effective and scalable approach to recombinant protein production, and is especially well-suited for complex, large-scale protein production that cannot be made by more traditional systems.

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