Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)
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Subsidiaries of Ligand Pharmaceutical Inc. (LGND) and Johnson & Johnson (JNJ) have entered into a research-and-development agreement focused on a "transgenic chicken platform" aimed at generating and discovering antibodies for humans, according to a securities filing.
Ligand's company Crystal Bioscience Inc., and Janssen Research & Development LLC, which is part of the Janssen Pharmaceutical Cos. of Johnson & Johnson, agreed to work together on Ligand's development of the platform, the filing said.
Under the deal, Ligand will be able to earn milestone payments contingent on various deliverables and will be able to sell the platform to others in the market.
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(END) Dow Jones Newswires
July 11, 2018 17:33 ET (21:33 GMT)
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