Ligand Expands Captisol License and Supply Agreements with SAGE Therapeutics to Include SAGE-689

Ligand Pharmaceuticals Incorporated

announces it has expanded its global license and supply agreements with SAGE Therapeutics (SAGE) to now also cover the use of Captisol® in the development and commercialization of SAGE-689. Under the terms of the license, Ligand received a licensing fee and will be eligible to receive potential milestone payments, tiered royalties on future net sales and revenue from Captisol material sales. SAGE will be responsible for all costs related to the program. "This latest agreement represents an expansion of our existing relationship with SAGE and we are excited to partner on another potentially life-changing Captisol-enabled drug," commented John Higgins, Chief Executive Officer of Ligand. "SAGE has a track record of impressive development and scientific achievements, and this latest agreement with them adds to Ligand's growing portfolio of over 120 shots-on-goal."