Ligand Invests in Zerion Pharma's Dispersome® Technology, Securing Future Royalties and Equity
LGND has more than doubled off its 52-week low of $111.715.
Summary
Ligand Pharmaceuticals has completed a royalty financing and equity investment with Zerion Pharma, investing an undisclosed amount to advance Zerion's Dispersome® technology. This strategic move grants Ligand a share of future royalty income from the technology and an equity position in Zerion. The Dispersome® technology aims to improve drug solubility and bioavailability, aligning with Ligand's core business as a royalty aggregator. This follows Ligand's recent $739 million acquisition of XOMA Royalty Corporation and a $700 million convertible senior notes offering, further expanding its portfolio of royalty-generating assets.
At the time of this announcement, LGND was trading at $308.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $6.3B. The 52-week trading range was $111.72 to $314.80. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: MFN by Modular Finance.