Ligand and AvenCell Therapeutics Enter Financing Agreement to Advance Pipeline of Next-Generation CAR-T Therapies for Up to $47 Million
Ligand Pharmaceuticals entered a financing agreement with AvenCell Therapeutics worth up to $47 million to advance AvenCell's allogeneic CAR-T pipeline. Ligand committed up to $41 million for a mid single-digit to low double-digit royalty on worldwide net sales of AvenCell assets, funded in four tranches tied to clinical milestones, plus up to $6 million in a Series C round.
Key figures
- Deal Value Usd
- 47000000
- Royalty rate
- mid single-digit to low double-digit royalty on worldwide annual net sales of all current and future AvenCell pipeline assets
- Funding tranches
- four tranches; first at closing, remainder on clinical milestones and financing conditions
- Royalty funding commitment usd
- 41000000
- Series c equity commitment usd
- 6000000
AI analysis
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