Genaera, Ligand deal

Ligand acquired the milestone and royalty rights to MEDI-528 from Genaera's Genaera Liquidating Trust for $2.8 million. Genaera was eligible for up to $55 million in milestones, plus royalties, from MedImmune Inc. under a 2001 deal to develop mAbs against IL-9. MEDI-528 is in Phase II trials to treat asthma. Biotechnology Value Fund conducted the due diligence on the deal and will share in the costs and profits from the deal. The amount of remaining milestones for which Ligand is eligible is undisclosed (see BioCentury, April 23, 2001). ...