Ligand in deal with Chiva for global rights to Fablyn

In a second deal with the company, Ligand Pharmaceuticals (Nasdaq: LGND) has entered into a global licensing agreement with Chiva Pharmaceuticals, a US affiliate of Hong Kong-based Hainan Kaihua Pharmaceutical, for Fablyn (lasofoxifene), a selective estrogen receptor modulator (SERM) that was approved in the European Union in 2009 for the treatment of osteoporosis in post-menopausal women at increased risk of fracture.

In return, Ligand will receive $4 million in licensing payments over the next eight months and is also eligible to receive milestones and royalties on worldwide sales of Fablyn, the US firm noted.

Fablyn was discovered through a research collaboration between Ligand and Pfizer that began in 1991. The drug was fully developed by Pfizer through regulatory approval in the EU. After Pfizer acquired a similar SERM program, Conbriza (bazedoxifene), through its acquisition of Wyeth, Fablyn reverted to Ligand earlier this year.