BioCentury
ARTICLE | Company News

Ligand licenses Captisol-enabled Melphalan to Spectrum

March 15, 2013 12:30 AM UTC

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) granted Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) exclusive, worldwide rights to develop and commercialize Ligand's Captisol-enabled Melphalan. Ligand will receive $3 million up front and is eligible for more than $50 million in milestones, plus "significant" double-digit royalties. Spectrum will assume responsibility for an ongoing U.S. Phase II/III trial evaluating the product for conditioning in multiple myeloma (MM) patients undergoing autologous transplantation. The company said it plans to submit an NDA to FDA for Captisol-enabled Melphalan in 1H14.

Ligand gained the product -- a propylene glycol-free melphalan delivered via Captisol sulfobutylether beta-cyclodextrin technology -- through its acquisition of CyDex Pharmaceuticals Inc. in January 2011 (see BioCentury Extra, Jan. 26, 2011). ...