BioCentury
ARTICLE | Company News

Ligand, TG Therapeutics deal

June 30, 2014 7:00 AM UTC

Ligand granted TG exclusive, worldwide rights to develop and commercialize Ligand’s interleukin-1 receptor-associated kinase 4 (IRAK4) inhibitors. The program is in preclinical development to treat B cell malignancies and undisclosed autoimmune diseases. Ligand will receive 125,000 TG shares up front and be eligible for up to $207 million in development, regulatory and sales milestones. The shares are valued at about $1.2 million based on TG’s close of $9.69 on June 23, before the deal was announced. Ligand will also be eligible for royalties of 6% for licensed products covered by its patents with annual sales of up to $1 billion; 9.5% for licensed products covered by its patents with annual sales exceeding $1 billion; and about 4.5% for licensed products not covered by its patents. TG could not be reached for details. ...