Ligand Pharmaceuticals Acquires Royalty On TZIELD - Quick Facts

(RTTNews) - Ligand Pharmaceuticals Incorporated (LGND) has acquired Tolerance Therapeutics, Inc. for $20 million. Tolerance Therapeutics is a holding company, owned by the inventors of TZIELD, that is owed a royalty of less than 1% on worldwide net sales.

TZIELD is the first disease-modifying therapy in type 1 diabetes. It was approved by the FDA in November 2022. TZIELD is marketed by Sanofi, following its acquisition of Provention Bio, Inc., the owner of TZIELD, in 2023.

Ligand Pharmaceuticals said the acquisition will be immediately accretive to royalty revenue.

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