LGND - Ligand Pharmaceuticals Partner Sellos Therapeutics Shares Set To Soar As Value Of Its Potential Billion-Dollar Pipeline Is Realized
The Ligand and SEEL Partnership
On September 22, 2016, Ligand Pharmaceuticals Incorporated (LGND), a $2.6 Billion public company, announced the licensing of rights to four programs to Seelos Therapeutics, Inc. (SEEL), a newly formed company focused on the central nervous system.
According to the release, the license agreement terms say:
Ligand is entitled to receive initial payments in equity or cash of $1.3 million upon Seelos' completing a minimum of $7.5 million financing and up to an additional $3.5 million if Seelos becomes a public company and up to $145 million of additional cash milestones.