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news.Ligand will receive an upfront payment as well as a royalty on net sales in the US by ParinGenix, for 2-O, 3-O desulfated heparin products
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A subsidiary of Ligand has entered into an exclusive license agreement with ParinGenix. Under the agreement, ParinGenix was granted exclusive license rights to three issued US patents relating to certain desulfated heparin compounds.
Under the terms of the agreement, Ligand will receive an upfront payment as well as a royalty on net sales in the US by ParinGenix, for 2-O, 3-O desulfated heparin products.
John Higgins, President and CEO of Ligand, said: We are pleased to enter into this collaboration, which monetizes intellectual property acquired in our 1995 merger with Glycomed. Furthermore, this deal adds another potential lucrative royalty stream to Ligand’s already promising list of partnered, fully funded, royalty-bearing programs.
ParinGenix’s PGX-100 is an intravenous formulation of 2-O, 3-O desulfated heparin, which is in phase-IIb trial for the treatment of acute COPD exacerbations.