RODES signs Captisol licensing accord with Ligand Pharmaceuticals for three programs
USA-based RODES and Ligand Pharmaceuticals (Nasdaq: LGND) have signed exclusive global license and supply agreements for three Captisol-enabled (CE) programs, with the news lifting Ligand’s shares 3.56% to $109.34 in New York trading yesterday.
Under the terms of the agreements, for each program Ligand will be eligible to receive development and commercial milestone payments, revenue from the sales of Captisol, and royalties of 8% to 11% on future net sales. RODES, which specializes in growth investment and turnaround opportunities in the pharmaceuticals and biologics industry, will be responsible for all costs related to the development and commercialization of the programs.
The three programs are:
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