8/14/2014 8:02:26 AM
SAN DIEGO--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announces the signing of a commercial license agreement with Avion Pharmaceuticals, LLC for the development and commercialization of four Captisol-enabled programs. Under the terms of the agreement, Ligand is entitled to receive an up-front payment, and is eligible to receive revenue from Captisol material sales, potential milestone payments, and royalties on future net sales of the products containing Captisol.
“Through this multi-program partnership with Avion Pharmaceuticals, we are adding a new organization to our growing list of partners and have added four additional fully-funded programs to our existing portfolio of more than 100 Shots-on-Goal,” commented John Higgins, President and Chief Executive Officer of Ligand Pharmaceuticals. “Ligand continues to expand its portfolio of assets to deliver value to shareholders. Importantly, this partnership also demonstrates new demand for Captisol in both oral and topical administration, adding to the position Captisol has established in enabling injectable products.”
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