Ligand Enters Into Commercial License and Supply Agreement with Amgen for Rights to Use Captisol in the Formulation of AMG 330
July 17 2017 - 9:00AM
Business Wire
Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) today
announced that it has entered into a commercial license and supply
agreement with Amgen, granting rights to use Ligand’s Captisol
technology in the formulation of AMG 330. Captisol is a patent
protected, chemically modified cyclodextrin with a structure
designed to optimize the solubility and stability of drugs. AMG 330
is an anti-CD33 x anti-CD3 (BiTE®) bispecific antibody construct.
It is being investigated as a treatment for acute myeloid leukemia
by Amgen.
This license agreement replaces the prior research agreement
which allowed Amgen to evaluate AMG 330 with Captisol in
preclinical and early clinical studies. Under this new commercial
license agreement, Amgen receives exclusive worldwide rights to
combine Captisol with AMG 330 for use in humans for a wide variety
of therapeutic indications. In addition to an upfront payment,
Ligand is entitled to potential milestone payments, royalties and
revenue from future sales of AMG 330 formulated using Captisol.
“This agreement expands our license relationship with Amgen on
AMG 330,” said John Higgins, Chief Executive Officer of Ligand
Pharmaceuticals. “Ligand’s portfolio of fully-funded shots on goal
continues to grow and contains a large number of Captisol-enabled
drugs targeted to a number of serious diseases with unmet medical
needs.”
About AMG 330
AMG 330 is an anti-CD33 x anti-CD3 (BiTE®) bispecific antibody
construct. It is being investigated as a treatment for acute
myeloid leukemia by Amgen.
About Ligand Pharmaceuticals
Ligand is a biopharmaceutical company focused on developing or
acquiring technologies that help pharmaceutical companies discover
and develop medicines. Our business model creates value for
stockholders by providing a diversified portfolio of biotech and
pharmaceutical product revenue streams that are supported by an
efficient and low corporate cost structure. Our goal is to offer
investors an opportunity to participate in the promise of the
biotech industry in a profitable, diversified and lower-risk
business than a typical biotech company. Our business model is
based on doing what we do best: drug discovery, early-stage drug
development, product reformulation and partnering. We partner with
other pharmaceutical companies to leverage what they do best
(late-stage development, regulatory management and
commercialization) to ultimately generate our revenue. Ligand’s
Captisol® platform technology is a patent-protected, chemically
modified cyclodextrin with a structure designed to optimize the
solubility and stability of drugs. OmniAb® is a patent-protected
transgenic animal platform used in the discovery of fully human
mono-and bispecific therapeutic antibodies. Ligand has established
multiple alliances, licenses and other business relationships with
the world's leading pharmaceutical companies including Novartis,
Amgen, Merck, Pfizer, Celgene, Gilead, Janssen, Baxter
International and Eli Lilly.
Follow Ligand on Twitter @Ligand_LGND.
Forward-Looking Statements
This news release contains forward-looking statements by Ligand
that involve risks and uncertainties and reflect Ligand's judgment
as of the date of this release. These include statements regarding
Amgen’s planned development of AMG 330 formulated using Captisol
including the target indications. Actual events or results may
differ from our expectations. The failure to meet expectations with
respect to any of the foregoing matters may reduce Ligand's stock
price. Additional information concerning these and other important
risk factors affecting Ligand can be found in Ligand's prior press
releases available at www.ligand.com as well as in Ligand's public
periodic filings with the Securities and Exchange Commission,
available at www.sec.gov. Ligand disclaims any intent or obligation
to update these forward-looking statements beyond the date of this
press release, except as required by law. This caution is made
under the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.
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version on businesswire.com: http://www.businesswire.com/news/home/20170717005322/en/
Ligand Pharmaceuticals IncorporatedTodd Pettingill,
858-550-7500investors@ligand.com@Ligand_LGNDorLHABruce Voss,
310-691-7100bvoss@lhai.com
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