Date: 2015-05-11
Type of information: Pipeline acquisition
Acquired company: more than 15 biologic development programs from Selexis (Switzerland)
Acquiring company: Ligand Pharmaceuticals (USA - CA)
Amount: $4 million (€3.57 million)
Terms: * On May 11, 2015, Ligand Pharmaceuticals has acquired a portfolio of potential future milestone and royalty payments for more than 15 biologic development programs from Selexis SA for $4 million in cash.
Details: The acquired assets include a mix of novel biologics and biosimilars. These programs are in various stages of development ranging from preclinical through Phase 3 and each acquired program is fully funded by a development partner. In April 2013 Ligand acquired a separate portfolio of more than 15 programs from Selexis. Since that time many of the portfolio programs have advanced through the development process and Ligand has already received milestone payments amounting to nearly 10% of the acquisition price paid. “This is an efficient transaction that bolts on potentially lucrative economic rights to numerous new programs and follows the positive developments and successes we have realized with the our first transaction with Selexis,” said John Higgins, Chief Executive Officer of Ligand. “This deal significantly expands Ligand’s already robust portfolio, which now exceeds 120 fully-funded assets. Importantly, it also diversifies our portfolio by increasing our number of partners to over 70 and further expands our potential biologics and biosimilars income streams.”
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