SAN DIEGO--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announced today that its research collaboration with Pfizer for JAK3 has been extended by one year. The Research and License Agreement entered into in December 2006 with Wyeth provided for an initial three year research term. Under this extension, Ligand will receive $3.1 million in research payments to continue conducting drug discovery and lead candidate optimization. Under the original agreement, Ligand is entitled to receive up to $175 million in milestone payments for the successful development and commercialization of multiple products. In addition, Ligand will receive royalties on product sales.
