|Ligand Signs Multi-Program Captisol® License Agreement with Avion; La Jolla Receives Notice of Allowance for Claims Covering Modified Pectin|
|By Staff and Wire Reports|
|Thursday, 14 August 2014 18:38|
Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announces the signing of a commercial license agreement with Avion Pharmaceuticals, LLC for the development and commercialization of four Captisol-enabled programs. Under the terms of the agreement, Ligand is entitled to receive an up-front payment, and is eligible to receive revenue from Captisol material sales, potential milestone payments, and royalties on future net sales of the products containing Captisol.
“Through this multi-program partnership with Avion Pharmaceuticals, we are adding a new organization to our growing list of partners and have added four additional fully-funded programs to our existing portfolio of more than 100 Shots-on-Goal,” commented John Higgins, President and Chief Executive Officer of Ligand Pharmaceuticals. “Ligand continues to expand its portfolio of assets to deliver value to shareholders. Importantly, this partnership also demonstrates new demand for Captisol in both oral and topical administration, adding to the position Captisol has established in enabling injectable products.”
La Jolla Pharmaceutical Company (NASDAQ: LJPC), a leader in the development of innovative therapies intended to significantly improve outcomes in patients suffering from life-threatening diseases, announced the United States Patent and Trademark Office (“USPTO”) has issued a notice of allowance for patent application number 14/254,510 covering methods of treating chronic inflammation by intravenous administration of aqueous modified pectin solutions with molecular weights greater than 25 kilodaltons.
“We are pleased to have received these additional claims covering aqueous solutions of modified pectin with limited molecular weight restrictions for the treatment of chronic inflammation,” said James Rolke, Vice President of Research and Development at La Jolla and an inventor on the allowed patent application. “These newly allowed claims expand our proprietary position for the use of modified pectin as a treatment for organ diseases that result from chronic inflammation.”
The Company’s intellectual property portfolio includes several issued and pending patents for the treatment of chronic inflammation. These issued and pending patents provide or will provide proprietary coverage for the Company’s pectin-based drugs, GCS-100 and LJPC-1010, as well as other modified pectin materials, including all modified pectins currently in clinical development.
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