Ligand Pharmaceuticals

Ovid Therapeutics Reports Business Updates, Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Friday, March 8, 2024

In addition, Takeda is expected to read out results from two pivotal Phase 3 studies evaluating soticlestat.

Key Points: 
  • In addition, Takeda is expected to read out results from two pivotal Phase 3 studies evaluating soticlestat.
  • Of these potential future payments, Ovid sold a 13% interest to Ligand Pharmaceuticals for $30 million in October 2023.
  • Financial runway: Ovid anticipates its cash runway will support operations and clinical development programs into the first half of 2026.
  • Ovid also anticipates several events for its current pipeline programs and clinical results for soticlestat from Takeda in 2024.

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

Retrieved on: 
Friday, December 1, 2023

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).

Key Points: 
  • “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.

Ovid Therapeutics Reports Third Quarter 2023 Financial Results and Corporate Updates

Retrieved on: 
Friday, November 3, 2023

The remaining 13% interest in these potential future milestone payments and royalties was acquired by Ligand in October 2023.

Key Points: 
  • The remaining 13% interest in these potential future milestone payments and royalties was acquired by Ligand in October 2023.
  • General and administrative expenses were $6.8 million for the three months ended September 30, 2023, as compared to $7.6 million for the same period in 2022.
  • The decrease reflects the impact of headcount reductions conducted as part of organizational changes made in the first half of 2023.
  • Total operating expenses were $12.1 million for the three months ended September 30, 2023, as compared to $12.8 million for the same period last year.

Ligand’s Partner Jazz Pharmaceuticals Receives European Commission Approval for Enrylaze® (a recombinant Erwinia asparaginase or crisantaspase) for the Treatment of Acute Lymphoblastic Leukemia and Lymphoblastic Lymphoma

Retrieved on: 
Friday, September 22, 2023

“We congratulate our partner Jazz on its receipt of approval for Enrylaze® from the European Commission, expanding the market opportunity for one of our key commercial-stage products,” said Todd Davis, CEO of Ligand Pharmaceuticals.

Key Points: 
  • “We congratulate our partner Jazz on its receipt of approval for Enrylaze® from the European Commission, expanding the market opportunity for one of our key commercial-stage products,” said Todd Davis, CEO of Ligand Pharmaceuticals.
  • The determination of efficacy was based on demonstration of the achievement and maintenance of nadir serum asparaginase activity (NSAA) levels ≥ 0.1 U/mL.
  • Overall, the safety profile of JZP458 was consistent with the reported safety information for patients with ALL/LBL receiving asparaginase with combination chemotherapy.
  • The European Commission approval extends to all European Union Member states, as well as Iceland, Norway, and Liechtenstein.

Research team develops smallest antibody scaffold

Retrieved on: 
Wednesday, September 20, 2023

SAN DIEGO, Sept. 20, 2023 /PRNewswire/ -- A collaborative scientific team led by researchers at the Applied Biomedical Science Institute (ABS), Scripps Research, Kansas State University (K-State), University of Louisville, OmniAb, Inc., and Ligand Pharmaceuticals has discovered and validated a potential new class of therapeutic agent based on the unique antigen binding regions of cow antibodies. In their paper published in the Proceedings of the National Academy of Sciences, "The smallest functional antibody fragment: ultralong CDR H3 antibody knob regions potently neutralize SARS-CoV-2", the team of researchers discovered cow antibodies with broad reactivity and high potency against several SARS-CoV-2 virus variants. They then developed the technology to produce only the coronavirus binding portion of the antibody, termed a 'knob' region, which is a tiny fragment of the large parent antibody. "At about 3% the size of the original antibody, cow knob regions represent the smallest known functional antibody fragment. They approach the size of some small molecule drugs and are three times smaller than camel antibody-derived 'nanobodies'. Knobs potentially have many biomedical uses, including as therapeutics and diagnostics," said Dr. Vaughn Smider, the senior author of the study and President of ABS. Potential advantages of such small antibody fragments include improved tissue penetration, clearance, and stability. While the current study reveals the utility of knobs in targeting coronavirus, their potential as a therapeutic class spans many therapeutic areas, including oncology and immunology. Future research applications of knobs include using them as targeting regions for nanoparticles, antibody drug conjugates or multispecific therapeutics.

Key Points: 
  • In their paper published in the Proceedings of the National Academy of Sciences, "The smallest functional antibody fragment: ultralong CDR H3 antibody knob regions potently neutralize SARS-CoV-2", the team of researchers discovered cow antibodies with broad reactivity and high potency against several SARS-CoV-2 virus variants.
  • "At about 3% the size of the original antibody, cow knob regions represent the smallest known functional antibody fragment.
  • Kyeong-Ok Chang (K-State), Donghoon Chung (Louisville), John Teijaro (Scripps Research), and Dennis Burton (Scripps Research), and detailed structural characterization was accomplished at Scripps Research in the laboratories of Drs.
  • The smallest functional antibody fragment: ultralong CDR H3 antibody knob regions potently neutralize SARS-CoV-2.

Introducing Primrose Bio: Enabling Innovative Therapeutic Discovery and Manufacturing

Retrieved on: 
Monday, September 18, 2023

SAN DIEGO, Sept. 18, 2023 /PRNewswire/ -- Primrose Bio, Inc., a stand-alone private biotechnology company focused on developing state-of-the-art discovery and production systems for protein and nucleic acid medicines, has been established as a result of the combination between Primordial Genetics, Inc. and Pelican Technology Holdings, Inc. As part of the transaction, Ligand Pharmaceuticals has contributed $15 million in funding.

Key Points: 
  • Primrose Bio combines the Function Generator™ and Pelican Expression Technology® (formerly Pfenex Expression Technology®) platforms of its founding companies to create an innovative system to engineer and enhance biological productivity to enable the next generation of therapeutics.
  • Function Generator systematically generates tens of millions of novel genes in an ultra-high-throughput fashion, which enables the discovery of proteins and microbes with improved function.
  • Primrose Bio's technologies have been leveraged to launch Prima RNApols™ and PeliCRM197®, two widely licensed manufacturing and formulation solutions for biopharma companies developing mRNA medicines and conjugate vaccines, respectively.
  • "We are at an exciting point at Primrose Bio, with more biopharma companies using our technologies than ever before, and several programs under development that can transform the biopharma manufacturing industry."

Ligand Pharmaceuticals Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)

Retrieved on: 
Saturday, September 2, 2023

The stock options were granted as an inducement material to the employee’s commencement of employment and were granted as an employment inducement award pursuant to NASDAQ Listing Rule 5635(c)(4).

Key Points: 
  • The stock options were granted as an inducement material to the employee’s commencement of employment and were granted as an employment inducement award pursuant to NASDAQ Listing Rule 5635(c)(4).
  • The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Ligand, or following a bona fide period of non-employment, as an inducement material to such individual’s entering into employment with Ligand, pursuant to Nasdaq Listing Rule 5635(c)(4).
  • The options are subject to the terms and conditions of the Inducement Plan and a stock option agreement covering the grant.
  • The stock options have a term of ten years from the grant date.

Slone Partners Places Christophe Arbet-Engels as Chief Medical Officer at X4 Pharmaceuticals

Retrieved on: 
Thursday, August 31, 2023

SOUTH RIDING, Va., Aug. 31, 2023 /PRNewswire-PRWeb/ -- Slone Partners, a nationwide executive search firm for life sciences, biotechnology, and healthcare companies, today announced the successful placement of Christophe Arbet-Engels, MD, PhD, as Chief Medical Officer (CMO) at X4 Pharmaceuticals, Inc., a biopharmaceutical company developing novel small molecule therapeutics to benefit patients with diseases of the immune system.

Key Points: 
  • SOUTH RIDING, Va., Aug. 31, 2023 /PRNewswire-PRWeb/ -- Slone Partners , a nationwide executive search firm for life sciences, biotechnology, and healthcare companies, today announced the successful placement of Christophe Arbet-Engels , MD, PhD, as Chief Medical Officer (CMO) at X4 Pharmaceuticals, Inc. , a biopharmaceutical company developing novel small molecule therapeutics to benefit patients with diseases of the immune system.
  • Dr. Arbet-Engels is a highly respected and experienced global pharmaceutical executive with keen business acumen honed over more than 20 years serving in complex organizational settings," said Leslie Loveless, Slone Partners CEO.
  • "Dr. Arbet-Engels is a highly respected and experienced global pharmaceutical executive with keen business acumen honed over more than 20 years serving in complex organizational settings," said Leslie Loveless , Slone Partners CEO.
  • "It was truly a pleasure collaborating with Slone Partners on the placement of Christophe as our new Chief Medical Officer," said Paula Ragan , Ph.D., President and Chief Executive Officer of X4 Pharmaceuticals, "We very much value our relationship with the Slone team and consider them a valuable ongoing resource to X4 given their deep understanding of and high quality connections within the life science industry."

X4 Pharmaceuticals Announces Industry Veteran Dr. Christophe Arbet-Engels to Join as Chief Medical Officer

Retrieved on: 
Tuesday, August 8, 2023

“We are thrilled to welcome Christophe to our leadership team at this exciting time at X4,” said Paula Ragan, Ph.D., President and Chief Executive Officer of X4 Pharmaceuticals.

Key Points: 
  • “We are thrilled to welcome Christophe to our leadership team at this exciting time at X4,” said Paula Ragan, Ph.D., President and Chief Executive Officer of X4 Pharmaceuticals.
  • We would also like to thank Dr. Murray Stewart, who has been serving as our Interim Chief Medical Officer, for his exceptional contributions and his leadership.
  • The company has made great progress and I look forward to adding to its continued forward momentum.
  • He received his MD and PhD in internal medicine/endocrinology-metabolism from the University of Paris, France, and completed his MBA at Rutgers University.

OmniAb Announces the Passing of Director Sunil Patel

Retrieved on: 
Monday, August 7, 2023

OmniAb, Inc. (NASDAQ: OABI) announces that Director Sunil Patel passed away suddenly last week.

Key Points: 
  • OmniAb, Inc. (NASDAQ: OABI) announces that Director Sunil Patel passed away suddenly last week.
  • The Board of Directors and leadership of OmniAb extend their deepest condolences to those who loved and cared for Sunil and express their gratitude for Sunil’s many contributions to OmniAb.
  • “It is with profound sadness that we announce Sunil’s passing,” said John Higgins, OmniAb Board Chair.
  • “Sunil was a highly-valued and engaged member of the OmniAb Board of Directors and played an important role driving our investments and strategy.