Ligand Pharmaceuticals has acquired a portfolio of more than 15 biologic programs from Selexis. The programs have potential future milestone and royalty payments and are fully funded by a development partner.
Selexis will apply its technology platform to generate stable and high performing manufacturing mammalian cell lines for biologic therapeutics. The acquired assets include new mechanisms of action of biological drugs and expand Ligand’s presence in growing therapeutic markets such as oncology, inflammation and autoimmune diseases. The acquired programs are in various stages of preclinical and clinical development.
“This acquisition significantly expands Ligand’s already robust portfolio to more than 85 fully-funded assets, and diversifies our portfolio beyond small molecule therapeutics into biologics,” said John Higgins, president and chief executive officer of Ligand. “The acquired rights are a great fit with our royalty-based business model, and the deal does not require operational integration or ongoing technical responsibilities from Ligand. We believe this acquisition reinforces the strength of our shots-on-goal strategy and has the potential to provide Ligand with numerous new drivers of long-term growth.”