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news.Ligand Pharmaceuticals, a biotechnology company, has entered into an exclusive, worldwide licensing agreement with GlaxoSmithKline under which Ligand has licensed worldwide exclusive rights to Ligand's LGD-4665 product candidate and its other thrombopoietin-related molecules to GSK. LGD-4665 currently is in Phase II for treatment of thrombocytopenia.
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Under the terms of the agreement, GlaxoSmithKline (GSK) is expected to pay Ligand $5m as an upfront license fee, up to $158m in development and commercial milestones and a 16% royalty on net sales. In the first year of sales, royalties will be one-half of the regular royalty rate. GSK has the exclusive right to develop, manufacture and commercialize LGD-4665, as well as other thrombopoietin (TPO) related molecules discovered by Ligand.
Under the terms of the agreement, GSK is expected to direct all product development and commercialization and will be responsible for all costs going forward for development, patent maintenance and prosecution, and commercialization.
Ad Rawcliffe, senior vice president of worldwide business development and R&D finance at GlaxoSmithKline, said: We believe LGD-4665 will complement GSK’s TPO receptor agonist program that has resulted in the development of Promacta/Revolade, which was recently approved by the FDA. We are pleased to extend our commitment to develop novel therapeutics to address patients’ needs.