LIGAND AND CR DOUBLE-CRANE ENTER COLLABORATION AGREEMENT TO DEVELOP AN ORAL COVID-19 THERAPEUTIC USING LIGAND’S BEPRO TECHNOLOGY™
BEPro is a novel prodrug technology to enhance oral delivery of active nucleotides
Excerpt from the Press Release:
EMERYVILLE, Calif.–(BUSINESS WIRE)– Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) today announced the signing of a collaboration agreement granting China Resources Double-Crane Pharmaceutical Co., Ltd. (CRDC) exclusive Asia territorial rights to develop a novel investigational oral COVID-19 antiviral therapeutic compound using Ligand’s BEPro technology. Ligand will receive an upfront payment in respect of the collaboration, and if the program advances, clinical and regulatory milestone payments, and tiered royalties on net sales. CRDC will be responsible for all costs related to the program.
BEPro is a proprietary prodrug technology that is specifically applicable to nucleotides and nucleotide analogs for the development of compounds with improved product profiles. Ligand has generated preclinical pharmacokinetics data showing its oral BEPro-enabled COVID-19 antivirals to have a favorable blood concentration profile and generate lower levels of active nucleotide in the kidney, a potential site for toxicity, than other oral and intravenous comparators. Ligand has filed multiple patents globally on the BEPro technology and potential antiviral compounds.
“This transaction with CRDC is another deal in a long history of success converting our inventions, data and intellectual property into licenses to advance important medicines and deliver value to our shareholders,” said John Higgins, CEO of Ligand Pharmaceuticals. “We are proud of the important work our team has contributed toward addressing the pandemic and are pleased with this new collaboration. China Resources Group is one of the largest Chinese pharmaceutical companies and is looking forward to robust development of this program through their subsidiary CRDC.”
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