The contract will focus on the development and commercialization of Ligand’s Captisol-enabled, propylene glycol-free (PG-free) melphalan.
According to the agreement, Ligand will earn license fee and is eligible for milestone payments worth $50m, in addition to sales-based royalties.
Ligand Pharmaceuticals president and chief executive officer John Higgins said, "Spectrum has an established oncology and hematology business, and this melphalan product is an ideal complement to their two commercial hematology products, Zevalin and Folotyn, including an expected high degree of commercial call overlap."
At present, the candidate is being evaluated in a pivotal trial for use in multiple myeloma patients as a conditioning treatment before autologous stem cell transplant.
The license will result in Spectrum presuming all development of Captisol-enabled melphalan program.