Ligand Buys Into Ongoing Partnerships With Icagen Deal

Ligand Pharmaceuticals Inc. unveiled an agreement to acquire all core assets of ICAgen Inc.’s North Carolina operations – including programs partnered with Roche and the Cystic Fibrosis Foundation – on 12 February. The announcement came a week after Ligand told investors it has between $500m and $750m to consummate deals that will add to its technological capabilities and bring in revenue-creating opportunities.

San Diego-based Ligand will pay $15m in cash for the Icagen assets, which include an early-stage neurology collaboration with Roche, funding from CFF to develop a therapy for cystic fibrosis driven by nonsense mutations, and six novel, unpartnered preclinical drug candidates for indications including diabetes, Parkinson’s disease and pain