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Ligand, Spectrum Sign Global Supply Pact

March 14, 2013

Licenses melphalan product for development program

Ligand Pharmaceuticals has signed a global license and supply agreement with Spectrum Pharmaceuticals for the development and commercialization of Ligand’s Captisol-enabled, propylene glycol-free (PG-free) melphalan. Ligand is entitled to receive a license fee and is eligible to receive more than $50 million in potential milestones, as well as royalties on future sales of Captisol-enabled melphalan.
 
The Captisol-enabled melphalan program is currently in development for use as a conditioning treatment prior to autologous stem cell transplant for patients with multiple myeloma. Spectrum will assume all development of the program under the license.
 
“We are pleased to have forged this agreement,” said John Higgins, president and chief executive officer of Ligand Pharmaceuticals. “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. Spectrum’s highly experienced, oncology-focused R&D team is committed to the efficient development of Captisol-enabled melphalan, and has established relationships with key investigators.”
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