Ligand Partner Jazz Pharmaceuticals launches RYLAZE ™ (asparaginase erwinia chrysanthemi (recombinant) -rywn), formerly JZP458
Ligand expects to receive $ 7 million in milestone payments
Rylaze for the treatment of ALL or LBL uses Ligand’s Pelican Expression Technology ™ platform
EMERYVILLE, California, July 21, 2021– (BUSINESS WIRE) –Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) today announced that Jazz Pharmaceuticals plc (NASDAQ: JAZZ) has launched Rylaze ™ (asparaginase erwinia chrysanthemi (recombinant) -rywn), also known as JZP458. Rylaze, which was approved by the FDA on June 30, 2021, is a recombinant erwinia asparaginase used as a component of a multi-agent regimen for the treatment of acute lymphoblastic leukemia (ALL) or lymphoblastic lymphoma (LBL) in l adult and child. patients 1 month or older who have developed hypersensitivity to E. coli– derivative of asparaginase.
Under the license agreement with Jazz Pharmaceuticals, Ligand received a payment of $ 2 million upon FDA acceptance of the BLA product review and is entitled to receive a payment of $ 5 million. during the first commercial sale following the launch. Ligand is eligible to receive up to an additional $ 155.5 million in milestone payments and low to mid-digit tiered royalties based on worldwide net sales of all products resulting from this collaboration, including Rylaze.
“This partnership with Jazz Pharmaceuticals is one of the key science programs that catalyzed our acquisition of Pfenex last year. Rylaze’s commercial launch really showcases our highly productive partnership with Jazz and the exceptional ability of our Pelican Expression technology to enable life-saving therapies, “said John Higgins, CEO of Ligand.” The robust manufacturing offered by the Ligand’s Pelican expression technology, combined with Jazz’s demonstrated success in development and commercialization, has provided a high-quality recombinant asparaginase option for patients with hypersensitivity to E. coli– asparaginase derivative with reliable supply. “
About Pelican Expression Technology ™
Pelican is a robust, validated, cost-effective and scalable platform for the production of recombinant proteins, and is particularly well suited for the production of complex proteins on a large scale where traditional systems are not suitable. Several global manufacturers have demonstrated consistent success with the platform and the technology is currently licensed for numerous commercial and development programs. The versatility of the platform has been demonstrated in the production of enzymes, peptides, antibody derivatives and modified unnatural proteins. Partners are looking for the platform because it can add significant value to biopharmaceutical development programs by reducing development times and manufacturing costs for therapeutics and vaccines. Given the trends in the pharmaceutical industry towards large molecules with increasing structural complexities, Pelican is well positioned to meet these growing needs as the most comprehensive, widely available protein production platform in the industry. For more information, please visit www.pelicanexpression.com.
About Ligand Pharmaceuticals
Ligand is a revenue-generating biopharmaceutical company focused on the development or acquisition of technologies that help pharmaceutical companies discover and develop drugs. Ligand’s business model creates shareholder value by providing a diverse portfolio of biotech and pharmaceutical revenue streams supported by an efficient and low corporate cost structure. Ligand’s goal is to offer investors the opportunity to participate in the biotech industry promise in a profitable, diversified, and lower risk business than a typical biotech business. Ligand’s business model is based on what Ligand does best: drug discovery, early-stage drug development, product reformulation and partnership. Ligand partners with other pharmaceutical companies to leverage what they do best (late stage development, regulatory management and commercialization) to ultimately generate our revenue. The Ligand OmniAb® The Technology Platform is a patent protected technology stack used in the discovery of fully human mono- and bispecific therapeutic antibodies. The Captisol® The platform technology is a chemically modified, patent protected cyclodextrin whose structure is designed to optimize drug solubility and stability. Ligand’s Pelican Expression Technology ™ is a robust, validated, cost-effective and scalable approach to the production of recombinant proteins, and is particularly well suited for the production of large-scale complex proteins that cannot be manufactured by more traditional systems. Ligand has established multiple alliances, licenses and other business relationships with the world’s largest pharmaceutical companies, including Amgen, Merck, Pfizer, Roche, Jazz Pharmaceuticals, Sanofi, Janssen, Takeda, Gilead Sciences, GSK and Baxter International. For more information, please visit www.ligand.com.
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This press release contains forward-looking statements of 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 “” and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include the timing and amount of milestone payments expected by Ligand; and intellectual property protections regarding Ligand’s technologies, including its OmniAb® and Captisol® platforms and Pelican Expression Technology ™. Actual events or results may differ from Ligand’s expectations due to the risks and uncertainties inherent in Ligand’s business, including, without limitation: Ligand is dependent on Jazz on the commercialization of Rylaze, including the timing of the first sale commercial, and Jazz may not generate sales to generate royalties payable to Ligand; and other risks described in previous press releases and documents filed by Ligand with the Securities and Exchange Commission, available at www.sec.gov. Ligand disclaims any intention or obligation to update these forward-looking statements beyond the date of this press release. This warning is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
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