Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announces the signing of an agreement whereby Ligand will acquire the core assets of Icagen, Inc.’s North Carolina operations, including partnered programs, proprietary ion channel screening and assay platforms, x-ray fluorescence capabilities, custom screening technologies and novel unpartnered preclinical-stage molecules for $15 million in cash. Icagen will also be entitled to receive up to an additional $25 million of cash payments based on certain revenue achievements. The acquired assets include Icagen’s partnered programs with Roche focused on neurological diseases, and with the Cystic Fibrosis Foundation (CFF) focused on cystic fibrosis. Ligand is also acquiring six Icagen preclinical-stage internal programs targeting diabetes, Parkinson’s disease, pain and other disorders.
Read the full article: Ligand Agrees to Acquire Core Assets, Partnered Programs and Ion Channel Technologies from Icagen //
Source: https://www.businesswire.com/news/home/20200211006025/en/Ligand-Agrees-Acquire-Core-Assets-Partnered-Programs