Ligand, Pharmaceutical Partners L.L.C. deal

LGND's Seragen Inc. subsidiary (Hopkinton, Mass.) sold to Pharmaceutical Partners its royalty rights to Zenapax daclizumab antibody to treat kidney transplant rejection, owned by F. Hoffman-La Roche Ltd. (Basel, Switzerland), and Simulect basiliximab antibody to treat organ transplant rejection, owned by Novartis AG (SWX:NOVN, Basel, Switzerland) (see BioCentury, Sept. 20, 1999). Seragen received $3.3 million for the rights to the antibodies and could receive a $3.3 million milestone if Zenapax sales achieve a certain level any year between 2001 and 2004. Seragen also could receive up to $3 million in milestones if Zenapax is approved to treat autoimmune indications. ...