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news.Ligand is set to receive an upfront payment of $1m from its partner Pfizer, as the latter has granted a sublicense to a multi-national pharma firm for Tanaproget, also known as NSP-989.
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Tanaproget is a tissue-selective, non-steroidal contraceptive progesterone receptor agonist that has the potential for an improved side effect profile over current steroid-containing contraceptives.
The tie up allows the sublicensee for the worldwide development, registration and commercialization of Tanaproget.
Following the deal, Ligand Pharma is entitiled to get an upfront payment of $1m from Pfizer.
Additionaly, Pfizer will pay clinical and regulatory milestone payments to Ligand Pharma as Tanaproget advances through the development process, as well as tiered royalties on net sales.
Ligand Pharma president and CEO John Higgins said Tanaproget is an example of the significant progress made in the field of women’s health, providing an additional oral contraceptive option for women using both prescription and non-prescription methods of contraception.