Ligand Pharmaceuticals shares were slightly higher Monday morning after the company said it has entered into a commercial license and supply agreement with Amgen (AMGN), granting rights to use Ligand’s Captisol technology in the formulation of AMG 330. Under this new commercial license agreement, Amgen receives exclusive worldwide rights to combine Captisol with AMG 330 for use in humans for a wide variety of therapeutic indications. In addition to an upfront payment, Ligand is entitled to potential milestone payments, royalties and revenue from future sales of AMG 330 formulated using Captisol.
Captisol is a patent protected, chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. AMG 330 is an anti-CD33 x anti-CD3 bispecific antibody construct. It is being investigated as a treatment for acute myeloid leukemia by Amgen.