Ligand Pharmaceuticals Earns $1 Million Up-Front Payment From Pfizer
Ligand Pharmaceuticals Incorporated recently announced its partner Pfizer, Inc. has granted a sublicense to a multinational pharmaceutical company for Tanaproget, also known as NSP-989. As a result, Ligand will receive an up–front payment of $1 million from Pfizer. Ligand is entitled to clinical and regulatory milestone payments from Pfizer as Tanaproget advances through the development process, as well as tiered royalties on net sales.
Tanaproget is a tissue-selective, non-steroidal contraceptive progesterone receptor agonist that has the potential for an improved side-effect profile over current steroid-containing contraceptives. The sublicensee is now responsible for the worldwide development, registration, and commercialization of Tanaproget.
“We are pleased with Pfizer’s decision to enable further progression of Tanaproget through this sublicense agreement. Tanaproget is an example of the significant progress made in the field of women’s health, providing an additional oral contraceptive option for women using both prescription and non-prescription methods of contraception,” said John L. Higgins, President and Chief Executive Officer of Ligand Pharmaceuticals. “Our collaborative relationship with Pfizer continues to be very productive, and this sublicense adds another promising program to Ligand’s large portfolio of assets.”
Ligand discovers and develops novel drugs that address critical unmet medical needs of patients for a broad spectrum of diseases, including hepatitis, muscle wasting, Alzheimer’s disease, dyslipidemia, diabetes, anemia, COPD, asthma, rheumatoid arthritis, and osteoporosis. Ligand’s proprietary drug discovery and development programs are based on advanced cell-based assays, tissue-specific receptor ligand interactions and gene-expression tools. Ligand has assembled one of the largest portfolio of assets, including commercial therapies, developed in partnership with pharmaceutical companies. Ligand has established multiple alliances with the world’s leading pharmaceutical companies, including GlaxoSmithKline, Merck, Pfizer, Bristol-Myers Squibb, and AstraZeneca, and more than 30 programs in various stages of development.
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