Through a definitive worldwide license agreement, Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will allow xCella Biosciences Inc. to use several of its platforms in the discovery of fully human mono- and bispecific antibodies. The common transgenic animal platforms, which xCella is seeking to use include OmniRat, OmniMouse and OmniFlic platforms.
However, it will not free of charge of course. The Menlo Park, California-based company will take up all the costs involved and will make annual platform access payments to Ligand. It will also submit development and regulatory milestone payments as well as any other royalties for each product incorporating an OmniAb antibody.
Ligand’s focus on biopharmaceutical assets
The biopharmaceutical company has been keen on the development and licensing of biopharmaceutical assets. As a result of its Captisol formulation technology, Ligand has been growing from strength to strength while gaining licensing deals with other companies and at the same time generating royalties. Captisol is primarily meant for improving safety and solubility, stability, and bioavailability and has had an incredible market presence.
While at this, it is worth noting that OmniAb, became part of Ligand’s technology portfolio after it acquired OMT, Inc in 2016. Ligand has out so much effort in its business; hence it is not limited to technology platforms. It also has LTP technology and Selexis technology all which have helped the company create a strong platform.
A sneak peek into Ligand Pharmaceuticals
The firm’s revenue for the quarter went down 1.3%. It has a stock market capitalization of $2.29 billion with a 50-day moving average price of $110.47. The company’s current average rating is at “Buy” with an average price target of $130.47. Different institution investors are taking precaution regarding their stakes in the company but apparently, as some reduced, others the likes of BlackRock Inc are either raising their positions or acquiring new stakes.
Meanwhile, the company makes use of research technologies to assist companies in their work the common ones being nuclear receptor assays, antibody discovery technologies and formulation science among others. In the meantime, Ligand’s was closed at $110.17 a rise of $1.89 or 1.75% per share.