Market Overview

Ligand Reaches OmniAb Platform License Agreement with Gilead


Ligand Pharmaceuticals Inc. (NASDAQ: LGND) disclosed that it reached a worldwide license agreement with Gilead Sciences, Inc. (NASDAQ: GILD). According to the company, Gilead would be able to use the OmniRat, OmniMouse and OmniFlic platforms under the license agreement to discover fully human mono- and bispecific antibodies to be developed for the treatment of different diseases.

Ligand Pharmaceuticals said it was eligible to get annual platform access payments, milestone and royalties for every product incorporating an OmniAb antibody. Gilead would be held responsible for all costs in connection with the programs.

The company's CEO, John Higgins, said, "Having access to the OmniAb platform provides Gilead with an industry-leading technology to discover novel antibody therapeutics."

He added, "This license agreement adds to the multiple post-OMT-acquisition licensing agreements that have already been signed including one recently signed with F-star. It also continues to demonstrate the licensing power of the OmniAb platform, which stands next to Captisol and other proprietary Ligand technologies in driving our future growth opportunities."

On Friday, Ligand was up 0.8 percent while GILD advanced 1.5 percent.

Posted-In: Biotech News FDA General


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