Ligand Pharma's Icagen, Glaxo in licensing pact for neurological diseases

 

• Ligand Pharmaceuticals's (LGND +0.04%) unit Icagen and GlaxoSmithKline (GSK -2.3%) have entered into a collaboration and license agreement that will utilize Icagen discovery technology to identify and develop inhibitors of a specific genetically-validated molecular target relevant to neurological diseases.
• Ligand will get an upfront payment of $7M, and is eligible to receive additional milestone payments of as much as $154.5M, as well as tiered royalties on net sales of any drug from the collaboration that is commercialized by GSK.
• GSK has the exclusive option to license any identified inhibitors and will be responsible for the further development and commercialization of any drug candidates identified through the collaboration.
• https://seekingalpha.com/news/3646248-ligand-pharmas-icagen-glaxosmithkline-in-licensing-pact-for-neurological-diseases