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WuXi Bio Pays $47 Million to Alter OmniAb Pact with Ligand Pharma

publication date: Jun 27, 2018

WuXi Biologics paid San Diego's Ligand Pharma $47 million in a single payment to re-negotiate its agreement for use of Ligand's OmniAb platform. Because of the payment, WuXi will not have to pay a per-use charge for the OmniAb platform. WuXi Bio said the change will increase the number of its biologic CRO clients who use OmniAb. In 2012, WuXi obtained rights to use the transgenic animal platform. Under the new contract, Ligand will still be eligible to earn the same royalties on developed products as before -- only the initial payment is changed. More details....

Stock Symbols: (HK: 2269) (NSDQ: LGND)

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