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Drug Discovery

Ligand to acquire protein technology firm Pfenex

by Ryan Cross
August 14, 2020 | APPEARED IN VOLUME 98, ISSUE 31

 

Ligand Pharmaceuticals is paying more than a 50% premium to acquire all outstanding shares of Pfenex for $438 million. Ligand earns royalties and licensing fees from drug companies that use its antibody and small-molecule discovery platforms, and from its drug solubilization business. Pfenex licenses a recombinant protein production method that it says is suited for making complex proteins at large scale. Its owners could earn an extra $78 million if they meet an undisclosed milestone by the end of 2021.

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