LIGAND PHARMACEUTICALS INCORPORATED (NASDAQ:LGND) Files An 8-K Other Events
Item 8.01 Other Events.
On February 4, 2019, we entered into a worldwide Commercial Platform License Agreement with Genagon Therapeutics AB, a Sweden-based, immuno-oncology focused biotech. Under the terms of the Agreement, Genagon gained access to the full OmniAb® transgenic animal technology platform, including OmniRat®, OmniMouse®, OmniFlic® and OmniChicken™, for its drug discovery efforts. We received a modest upfront payment and are eligible to receive development milestone payments and tiered royalties of four-to-six percent for each product incorporating an OmniAb-derived antibody. Genagon will be responsible for all costs related to its programs.
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.
