Royalty deals on the rise as Ligand takes stake in Agenus' success

9 May 2024

Part of a growing trend in the industry, Ligand Pharmaceuticals (Nasdaq: LGND) has inked a royalty financing agreement with immunology company Agenus (Nasdaq: AGEN).

The deal relates to six of Agenus’ clinical-stage partnered oncology programs, and will see Ligand paying $75 million upfront.

Ligand will also have the option to invest an additional $25 million on the same terms, and will receive 18.75% of the future royalties and 31.875% of the future milestone payments.

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