Ligand Pharmaceuticals (LGND) Subsidiary Enters Exclusive License Agreement with ParinGenix
Ligand Pharmaceuticals (NASDAQ: LGND) announced that a subsidiary has entered into an exclusive license agreement with ParinGenix Inc. under which ParinGenix was granted exclusive license rights to three issued U.S. patents relating to certain desulfated heparin compounds. Under the terms of this agreement, Ligand will receive an upfront payment as well as a royalty on net sales in the United States by ParinGenix of 2-O, 3-O desulfated heparin products. ParinGenix's lead compound, PGX-100 is an intravenous formulation of 2-O, 3-O desulfated heparin which is in a Phase IIb trial for the treatment of acute COPD exacerbations.
Ligand discovers and develops new drugs that address critical unmet medical needs of patients with muscle wasting, frailty, hormone-related diseases, osteoporosis, inflammatory diseases, anemia, asthma, rheumatoid arthritis and psoriasis.[SM]
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