Ligand to earn up to $50 million in deal with Spectrum for Captisol-enabled melphalan

14 March 2013

Ligand Pharmaceuticals (Nasdaq: LGND) has signed a global license and supply agreements with fellow US drugmaker Spectrum Pharmaceuticals (Nasdaq: SPPI) for the development and commercialization of Ligand’s Captisol-enabled, propylene glycol-free (PG-free) melphalan.

Under the terms of the deal, Ligand is entitled to receive a license fee and is eligible to receive more than $50 million in potential milestone payments. Ligand is also eligible to receive royalties on future net sales of Captisol-enabled melphalan.

The Captisol-enabled melphalan program is currently in a pivotal trial for use as a conditioning treatment prior to autologous stem cell transplant for patients with multiple myeloma. Spectrum will immediately assume all development of the program as a result of this license.

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