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LGND-News
LGND-Events
Ligand Pharmaceuticals Enters $47M Financing Agreement with AvenCell
Ligand Pharmaceuticals announced that it has entered into a financing agreement with AvenCell Therapeutics for up to $47M. The investment will help advance AvenCell's pipeline, including AVC-201 for the treatment of relapsed/refractory acute myeloid leukemia, AML, and AVC-203 for the treatment of B-cell malignancies. Under the terms of the agreement, Ligand has committed up to $41M in exchange for a mid single-digit to low double-digit royalty on worldwide annual net sales of all current and future AvenCell pipeline assets, including AVC-201 and AVC-203, with the applicable rate determined based on the total amount ultimately funded. The capital will be funded in four tranches: with the first payable at closing, and the remaining three tranches payable upon achievement of certain predetermined clinical milestones and other specified financing conditions. Ligand has also committed up to $6M in concomitant Series C financing, details of which will be announced separately.
Sydnexis Enters Agreement with Ligand to Sell Ryjunea Royalty Rights
Sydnexis announced an agreement with Ligand Pharmaceuticals to sell its royalty rights associated with net sales of Ryjunea in Europe, the Middle East, and Africa. Under the terms of the agreement, Ligand will pay $23M upfront to acquire a 100% interest in certain payments and related rights under Sydnexis' existing license agreement with Santen. Sydnexis retains all rights to SYD-101 in the U.S. and all other non-Santen licensed territories.
Ligand Pharmaceuticals Acquires Royalty Interest in Santen's Ryjunea for $23M
Ligand Pharmaceuticals announced it has acquired an ascending tiered royalty interest in Santen Pharmaceutical's Ryjunea from Sydnexis for a $23M upfront payment. Under the terms of the agreement, Ligand will pay $23M upfront to acquire a 100% interest in certain payments and related rights under Sydnexis's existing license agreement with Santen. The acquired payment rights include a tiered low-double-digit to high-teens royalty on Ryjunea net sales in EMEA, as well as certain milestone payments. Sydnexis retains commercial rights to Ryjunea in the U.S. and all other non-Santen licensed territories.
Agenus Enters $85M Securities Purchase Agreement
Agenus (AGEN) announced that it has entered into a securities purchase agreement for a private placement of approximately $85M in upfront gross proceeds, before the deduction of private placement expenses, and up to an additional $255M upon the full exercise of purchase warrants. The financing was led by Commodore Capital, with participation from RA Capital Management, TCGX, Invus, and Ligand Pharmaceuticals (LGND). The private placement is expected to close on or about July 15.
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