Ligand Pharmaceuticals (NASDAQ:LGND) has entered into an OmniAb commercial platform license and services agreement with Millennium Pharmaceuticals, a wholly owned subsidiary of Takeda Pharmaceutical (NYSE:TAK).
Under the license, Takeda and its affiliates will be able to use OmniAb platform rodents and birds in campaigns to discover antibodies as well as therapies using engineered cells and OmniAb-derived binders.
LGND is receiving annual access fees and will receive milestone payments and tiered single-digit royalty payments for each product incorporating or delivering an OmniAb antibody and any scientific services provided. Takeda will be responsible for all costs related to the programs.
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