Ligand, MEI Pharma deal

Ligand said in its 3Q12 earnings that it granted rights to MEI to use Captisol modified beta-cyclodextrin reformulation technology in MEI's lead isoflavone-based compounds, ME-344 and ME-143. Ligand received an upfront payment and is eligible for milestones and single-digit royalties. MEI said Ligand will not have any rights to the resulting IP. Ligand gained the Captisol technology, which optimizes the solubility and stability of drugs, through its acquisition of CyDex Pharmaceuticals Inc. last year (see BioCentury, Jan. 31, 2011). ...