Palvella Therapeutics and Ligand Pharmaceuticals Expand Strategic Partnership to Accelerate Phase 3 Development of QTORIN™ rapamycin for Microcystic Lymphatic Malformations and Additional High Unmet Need Clinical Indications
WAYNE, Pa., Dec. 01, 2023 (GLOBE NEWSWIRE) -- Palvella Therapeutics, Inc., a clinical-stage biopharmaceutical company developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases for which there are no FDA-approved therapies, and Ligand Pharmaceuticals Incorporated (Nasdaq: LGND), a biopharmaceutical company enabling scientific advancement through supporting the clinical development of high-value medicines, today announced the expansion of their strategic partnership to accelerate Phase 3 development of QTORIN™ rapamycin for the treatment of Microcystic Lymphatic Malformations (Microcystic LMs).
- “We are pleased to expand our strategic partnership with Ligand Pharmaceuticals, a recognized leader with an established track record in partnering with rare disease companies to accelerate development of high-value therapies,” said Wes Kaupinen, Founder and Chief Executive Officer of Palvella.
- In return, Ligand’s existing tiered royalty on worldwide commercial sales of QTORIN rapamycin increased to 8.0–9.8%.
- The U.S. FDA granted Breakthrough Therapy Designation to QTORIN rapamycin for the treatment of Microcystic Lymphatic Malformations in November 2023.
- In addition to Breakthrough Therapy Designation, the FDA previously granted Fast Track Designation and Orphan Drug Designation to QTORIN rapamycin for the treatment of Microcystic LMs.