Ligand Collaborator Merck Receives FDA Approval for CAPVAXIVE™ (Pneumococcal 21-valent Conjugate Vaccine) for Adults
CAPVAXIVE is the sixth FDA-approved product to utilize the Pfenex Expression Technology® platform
Ligand is entitled to a royalty on worldwide net sales of CAPVAXIVE
“We are excited to see our longstanding collaborator Merck receive regulatory approval for CAPVAXIVE,” said
CAPVAXIVE utilizes the PeliCRM197® carrier protein which helps enhance antigen immunogenicity in conjugate vaccines. PeliCRM197 is produced using the Pfenex Expression Technology® platform which Ligand initially acquired in 2020 and ultimately spun out to
Ligand will now collect commercial royalties on six products developed with the Pfenex Expression Technology, including Merck’s CAPVAXIVE and VAXNEUVANCE®, Jazz Pharmaceuticals’ RYLAZE®, Alvogen’s Teriparatide Injection, and
About
Ligand is a biopharmaceutical company enabling scientific advancement through supporting the clinical development of high-value medicines. Ligand does this by providing financing, licensing our technologies or both. Its business model seeks to generate value for stockholders by creating a diversified portfolio of biopharmaceutical product revenue streams that are supported by an efficient and low corporate cost structure. Ligand’s goal is to offer investors an opportunity to participate in the promise of the biotech industry in a profitable and diversified manner. Its business model focuses on funding programs in mid- to late-stage drug development in return for economic rights, purchasing royalty rights in development stage or commercial biopharmaceutical products and licensing its technology to help partners discover and develop medicines. Ligand partners with other pharmaceutical companies to leverage what they do best (late-stage development, regulatory management and commercialization) in order to generate its revenue. Ligand’s Captisol® platform technology is a chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. Ligand has established multiple alliances, licenses and other business relationships with the world’s leading biopharmaceutical companies including Amgen, Merck, Pfizer, Jazz, Takeda, Gilead Sciences and Baxter International. For more information, please visit www.ligand.com. Follow Ligand on X @Ligand_LGND.
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Forward-Looking Statements
This news release contains forward-looking statements by Ligand that involve risks and uncertainties and reflect Ligand's judgment as of the date of this release. Words such as “plans,” “believes,” “expects,” “anticipates,” and “will,” and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include: the timing and amount of milestone payments Ligand expects; the potential royalties to be paid on sales of CAPVAXIVE by Merck; the submission of any CAPVAXIVE supplemental regulatory licensure application with the FDA; and the intellectual property protections with respect to Primrose Bio’s Pfenex Expression Technology® platform. Actual events or results may differ from Ligand’s or its partner’s expectations due to risks and uncertainties inherent in Ligand’s and its partner’s business, including, without limitation: Merck may not be able to successfully commercialize CAPVAXIVE which will depend on a number of factors including coverage and reimbursement levels from governmental authorities and health insurers as well as market acceptance by healthcare providers; the market size for CAPVAXIVE may be smaller than estimated; Ligand is dependent on Merck for the commercialization of CAPVAXIVE; and other risks described in Ligand’s prior press releases and filings with the
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