Ligand deal

Since the goal of the collaboration was to discover a compound that would retain the bone-sparing and cardioprotective benefits of estrogen without the uterine cancer risks, the five-year collaboration, which was initiated in 1991 and called for Pfizer to fund $3 million each year, will end July 1, 1994.

Pfizer intends to take the first compound through preclinical development and clinical trials and anticipates filing an IND in 1995, said LGNDA, which will receive additional milestone payments and sales royalties. Pfizer also agreed not to sell any of its 1.25 million shares of LGNDA stock before November 1995. ...