Ligand Pharmaceuticals, TG Therapeutics Sign Global Licensing Agreement for IRAK-4 inhibitors

Ligand Pharmaceuticals, TG Therapeutics Sign Global Licensing Agreement for IRAK-4 inhibitors -

Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announced the signing an exclusive worldwide licensing agreement with TG Therapeutics, Inc. (NASDAQ: TGTX) for the development and commercialization of ligand interleukin-1 Receptor Associated Kinase-4 (IRAK-4) inhibitors. The IRAK-4 program is in preclinical development for potential use in certain cancers and autoimmune diseases.

Under the terms of the agreement, Ligand is entitled to receive 125,000 shares of TG Therapeutics common stock, valued at approximately $ 1 million on the date of signature, and is eligible to receive $ 207 million in payments potential steps. Ligand is also eligible to receive royalties on many levels from 6% to 9.5% on future net sales of licensed products containing IRAK-4 inhibitors patented.

"Through this partnership we combine our IRAK-4 inhibitors promising clinical program portfolio of oncology company focused able to effectively advance this asset," commented John Higgins, President and Chief ligand Pharmaceuticals direction. "TG Therapeutics has demonstrated its ability to transition preclinical compounds in clinical programs best-in-class and IRAK-4 is an ideal addition to their two hematology clinical stage products, ie TG-1101, or ublituximab and TGR-02, an inhibitor of PI3K delta. Given the evolution of these research areas, there may be treatment options for synergies between IRAK-4 inhibitors and these other programs. "

Higgins continued," This is a clear illustration of our business model, which focuses on the selection of promising drug targets, generating answers to key questions in the early research phase and asset license for a strong partner for further development. our agreement with TG Therapeutics is structured so that the two companies will be highly rewarded should the program be able to generate a commercial product, and builds on our portfolio more 0 fully funded partnerships. "