Ligand pays $30M upfront in royalty deal; Actym extends its Series A; Gero raises $6M
Ligand acquires partial royalty rights to epilepsy candidate: Ligand said Wednesday that it’s paying $30 million upfront to Ovid Therapeutics as part of a deal to acquire 13% of royalties and milestones for soticlestat, which is currently in Phase III trials for two types of epilepsy: Lennox-Gastaut syndrome and Dravet syndrome. Back in 2021, Ovid sold the soticlestat rights to Takeda for $196 million upfront, $660 million in milestones, and tiered royalties. Ovid now expects its cash to last into 2026.
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