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Ligand Pharmaceuticals: Ligand Expands Captisol License And Supply Agreements

The following excerpt is from the company's SEC filing.

with SAGE Therapeutics to Include SAGE-689

announces it has expanded its global license and supply agreements with SAGE Therapeutics (SAGE) to now also cover the use of Captisol® in the development and commercialization of SAGE-689. Under the terms of the license, Ligand received a licensing fee and will be eligible to receive potential milestone payments, tiered royalties on future net sales and revenue from Captisol material sales. SAGE will be responsible for all costs related to the program.

“This latest ag reement represents an expansion of our existing relationship with SAGE and we are excited to partner on another potentially life-changing Captisol-enabled drug,” commented John Higgins, Chief Executive Officer of Ligand. “SAGE has a track record of impressive development and scientific achievements, and this latest agreement with them adds to Ligand’s growing portfolio of over 120 shots-on-goal.”

About Captisol®

Captisol is a patent-protected, chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. Captisol was invented and initially developed by scientists in the laboratories of Dr. Valentino Stella at the University of Kansas’ Higuchi Biosciences Center for specific use in drug development and formulation. This unique technology has enabled seven FDA-approved products, including Amgen’s Kyprolis®, Baxter International’s Nexterone® and Merck’s NOXAFIL® IV. There are more than 40 Captisol-enabled products currently in development.

About SAGE-689

SAGE Therapeutics is developing...