Ligand Pharmaceuticals has made it to the headlines for entering into a worldwide OmniAb partnership with iMetabolic Biopharma Corporation (iMBP) – a newly established biopharma company located in Tempe, AZ. Reportedly, by joining forces with companies like iMBP, Ligand is bidding to set a firm foot in the pharma industry.
If reports are to be believed, with this collaboration, Ligand is eligible to receive a tiered royalty on future sales of up to 6% and has received an up-front license payment.
According to authentic sources, iMBP shall be able to access the entire OmniAb portfolio comprising OmniFlic, OmniChicken, OmniMouse, and OmniRat for their drug discovery needs. Under the terms of agreement, Ligand will finance some of the chosen early antibody discovery operations and will receive an ownership position in iMBP in turn. Furthermore, iMBP shall be liable for the commercialization expenses and clinical & pre-clinical costs.
John Higgins, the CEO of Ligand, was reported stating that the company is progressing by establishing strategic collaborations with emerging and pioneering organizations. He further claims that the firm’s agreement with iMBP is a great example of such alliances, as iMBP understands the worth and benefits of multi-species, genetically-engineered OnmiAb platforms for the development of the best therapeutics for metabolic diseases with substantial unmet needs.
According to Dr. Urban A. Kiernan, the CEO and Founder of iMetabolic Biopharmaceutical Corporation, the willingness of Ligand professionals to accomplish this partnership with iMBP Corporation vividly shows that their understanding of the value and needs of early stage drug discovery companies. He further added that such partnerships drive innovation and enthusiasm into the job, and the company is more than pleased to have partnered with Ligand.
For the record, Ligand is a biopharmaceutical company that eases discovery and development of medicines for pharmaceutical companies around the world.