Ligand Pharmaceuticals Incorporated
) recently entered into a worldwide development and
commercialization agreement with CURx Pharmaceuticals, Inc. for
the former's Captisol-enabled topiramate injection. The candidate
will be developed for the treatment of partial onset or primary
generalized tonic-clonic seizures in hospitalized epileptics who
cannot take the oral form of topiramate.
Under this deal, Ligand could receive more than $21 million on
the achievement of milestones and will receive royalties of 6% to
7.5% on future sales.
Currently, topiramate is only available in the oral form and is
marketed as Topamax by Janssen Pharmaceuticals, Inc.
Captisol-enabled topiramate injection was granted orphan drug
designation by the U.S. Food and Drug Administration (FDA) in Jul
2013. CURx intends to commence a phase II study next year.
We note that Ligand has been significantly involved in
collaboration activities in 2013.
Ligand signed a major deal in Mar 2013 by entering into an
Spectrum Pharmaceuticals, Inc.
). Following the deal, Spectrum Pharma acquired global
development and commercialization rights to Ligand's
Captisol-enabled, propylene glycol-free (PG-free) melphalan.
Captisol-enabled melphalan is currently being developed as a
conditioning treatment before autologous stem cell transplant for
patients suffering from multiple myeloma.
Ligand will receive a license fee, milestone payments and
royalties from Spectrum Pharma following the potential
commercialization of the candidate. Spectrum Pharma is now
responsible for the ongoing pivotal clinical study on the
Continuing with its collaboration spree, Ligand joined forces
with Azure Biotech for the development of a novel formulation of
lasofoxifene in Jul 2013. This novel formulation targets an
underserved market in the field of women's health.
Under this deal, Ligand will receive $2.7 million on the
achievement of future development and regulatory milestones.
Further royalty payments of 5% on future net sales will also be
paid to Ligand.
Currently, Ligand carries a Zacks Rank #3 (Hold). Companies which
look attractive include
Biogen Idec Inc.
) with a Zacks Rank #1 (Strong Buy).
ACTELION LTD (ALIOF): Get Free Report
BIOGEN IDEC INC (BIIB): Free Stock Analysis
LIGAND PHARMA-B (LGND): Free Stock Analysis
SPECTRUM PHARMA (SPPI): Free Stock Analysis
To read this article on Zacks.com click here.