On May 22, 2017, Ligand entered into a License Agreement and a Supply Agreement with privately-held Interventional AnalgesiX, Inc. (“IAX”) granting IAX an exclusive right to use Captisol® in IAX’s development and commercialization of a Captisol®-enabled version of a specified compound. Under the License Agreement, Ligand will receive an upfront payment, and could also potentially receive milestone payments, plus tiered royalties of 5%-10% of net sales. And, Ligand could receive commercial revenue from the shipment of Captisol to IAX for clinical and commercial activities.

About LIGAND PHARMACEUTICALS INCORPORATED (NASDAQ:LGND)

Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals. It has have partnerships and license agreements with over 85 pharmaceutical and biotechnology companies, and over 140 different programs under license with it are in various stages of commercialization and development. Its partners have programs in clinical development targeting seizure, coma, cancer, diabetes, cardiovascular disease, muscle wasting, liver disease and kidney disease, among others. It is developing a small molecule glucagon receptor antagonist for the treatment of Type II diabetes mellitus.

LIGAND PHARMACEUTICALS INCORPORATED (NASDAQ:LGND) Recent Trading Information

LIGAND PHARMACEUTICALS INCORPORATED (NASDAQ:LGND) closed its last trading session up +0.38 at 113.82 with 165,126 shares trading hands.