Ligand Earns Pfizer Milestone

Ligand Pharmaceuticals and Pfizer have sublicensed Tanaproget, also known as NSP-989, to a multi-national pharmaceutical company. As a result, Ligand will receive an upfront payment of $1 million from Pfizer. Ligand is entitled to clinical and regulatory milestone payments from Pfizer, as well as royalties on sales.

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 sublicensee is now responsible for the worldwide development, registration and commercialization of Tanaproget.

“We are pleased with Pfizer’s decision to enable further progression of Tanaproget through this sublicense agreement. 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,” said John L. Higgins, president and chief executive officer of Ligand Pharmaceuticals. “Our collaborative relationship with Pfizer continues to be very productive and this sublicense adds another promising program to Ligand’s large portfolio of assets.”