Vernalis Research, a Ligand Company, Achieves Success Milestones in Collaboration with Daiichi Sankyo
14 November 2018 - 1:00AM
Business Wire
Vernalis Research, a Ligand Company, announced today that
it has earned multiple success milestones under its drug discovery
collaboration with Daiichi Sankyo Company, Limited (Daiichi Sankyo)
that began in December of 2017.
The research utilizes Vernalis' fragment and structure-based
drug discovery platform for two undisclosed oncology targets.
Additionally, a final success payment has been earned for one
target and the research collaboration continues for the second
target. The financial terms of the collaboration are not
disclosed.
Mike Wood, Ph.D. Research Director of Vernalis Research,
commented, "We are delighted with the success we have achieved in
our close collaboration with the scientists at Daiichi Sankyo. This
is another excellent endorsement of our world-leading fragment and
structure-based drug discovery platform and we look forward to the
potential for continued success in our collaboration with Daiichi
Sankyo."
About Vernalis Research, a Ligand Company
Vernalis Research has significant expertise in fragment and
structure-based drug discovery. This expertise is used in
collaborations that include projects to generate lead and candidate
molecules against molecular targets across all therapeutic areas as
well as establishing drug discovery and initial validation of novel
targets. In addition, the Company has eight programmes in its new
chemical entity development pipeline. The Company’s technologies,
capabilities and products have been used over the past five years
in collaborations with leading pharmaceutical companies, including
Genentech, Lundbeck, Servier, Asahi Kasei Pharma and other Japanese
companies as well as collaborations with academic and target
discovery companies from around the world. Vernalis Research is an
indirect and wholly-owned subsidiary of Ligand Holdings UK, which
in turn is a wholly owned subsidiary of Ligand Pharmaceuticals
Incorporated (NASDAQ: LGND).
About Ligand Pharmaceuticals
Ligand is a biopharmaceutical company focused on developing or
acquiring technologies that help pharmaceutical companies discover
and develop medicines. Our business model creates value for
stockholders by providing a diversified portfolio of biotech and
pharmaceutical product revenue streams that are supported by an
efficient and low corporate cost structure. Our goal is to offer
investors an opportunity to participate in the promise of the
biotech industry in a profitable, diversified and lower-risk
business than a typical biotech company. Our business model is
based on doing what we do best: drug discovery, early-stage drug
development, product reformulation and partnering. We partner with
other pharmaceutical companies to leverage what they do best
(late-stage development, regulatory affairs and commercialization)
to ultimately generate our revenue.
Ligand’s Captisol® platform technology is a patent-protected,
chemically modified cyclodextrin with a structure designed to
optimize the solubility and stability of drugs. OmniAb® is a
patent-protected transgenic animal platform used in the discovery
of fully human mono- and bispecific therapeutic antibodies. Ligand
has established multiple alliances, licenses and other business
relationships with the world's leading pharmaceutical companies
including Novartis, Amgen, Merck, Pfizer, Celgene, Gilead, Janssen,
Baxter International and Eli Lilly. For more information, please
visit www.ligand.com.
Follow Ligand on Twitter @Ligand_LGND.
Forward-Looking Statements
This news release contains forward-looking statements by Ligand
that involve risks and uncertainties and reflect Ligand's judgment
as of the date of this release. Words such as “plans,” “believes,”
“expects,” “anticipates,” and “will,” and similar expressions, are
intended to identify forward-looking statements. These
forward-looking statements include, without limitation, statements
regarding: the potential for continued success in the collaboration
with Daiichi Sankyo. Actual events or results may differ from
Ligand's expectations due to risks and uncertainties inherent in
Ligand’s business, including, without limitation: Ligand may not
receive expected revenue from achieved and/or earned milestones and
even if received any such milestone payments may not be significant
or material to Ligand. The failure to meet expectations with
respect to any of the foregoing matters may reduce Ligand's stock
price. Additional information concerning these and other risk
factors affecting Ligand can be found in prior press releases
available at www.ligand.com as well as in Ligand's public periodic
filings with the Securities and Exchange Commission available at
www.sec.gov. Ligand disclaims any intent or obligation to update
these forward-looking statements beyond the date of this release,
including the possibility of additional license fees and milestone
revenues we may receive. This caution is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995.
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Ligand owns or has rights to trademarks and copyrights that it
uses in connection with the operation of its business including its
corporate name, logos and websites. Other trademarks and copyrights
appearing in this press release are the property of their
respective owners. The trademarks Ligand owns include Ligand®,
Captisol® and OmniAb®. Solely for convenience, some of the
trademarks and copyrights referred to in this press release are
listed without the ®, © and ™ symbols, but Ligand will assert, to
the fullest extent under applicable law, its rights to its
trademarks and copyrights.
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version on businesswire.com: https://www.businesswire.com/news/home/20181113005309/en/
Ligand Pharmaceuticals IncorporatedTodd PettingillEmail:
investors@ligand.comPhone: (858) 550-7893Twitter: @Ligand_LGNDorLHA
Investor RelationsBruce VossEmail: bvoss@lhai.comPhone: (310)
691-7100
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