Mergers & Acquisitions ·
Ligand Pharmaceuticals pays $23M for European, Middle Eastern and African royalties on Santen's Ryjunea
LGNZZLigand Pharmaceuticals Inc
Ligand Pharmaceuticals acquired a 100% interest in royalty and milestone payment rights for Santen Pharmaceutical’s Ryjunea from Sydnexis for a $23 million upfront payment. The transaction grants Ligand an ascending tiered low-double-digit to high-teens royalty on Ryjunea net sales in Europe, the Middle East, and Africa, along with certain milestone payments. Ryjunea is a once-nightly atropine eye drop approved by the European Commission and UK MHRA to slow myopia progression in pediatric patients. This strategic acquisition expands Ligand’s diversified portfolio of biopharmaceutical royalties. The company operates as a royalty aggregator that partners with biopharmaceutical companies to finance late-stage clinical development programs.