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Ligand Collaborator Merck Receives FDA Approval for CAPVAXIVE™ (Pneumococcal 21-valent Conjugate Vaccine) for Adults
CAPVAXIVE is the sixth FDA-approved product to utilize the Pfenex Expression Technology® platform Ligand is entitled to a royalty on worldwide net sales of
About this update from Ligand Pharmaceuticals Incorporated
[{"type":"text","content":"\nCAPVAXIVE is the sixth FDA-approved product to utilize the Pfenex Expression Technology® platform\n\n\nLigand is entitled to a royalty on worldwide net sales of CAPVAXIVE\n\n\n JUPITER, Fla.--(BUSINESS WIRE)--\nLigand Pharmaceuticals Incorporated (Nasdaq: LGND) today announced that its collaborator Merck, known as MSD outside the United States and Canada, has received approval from the U.S. Food and Drug Administration (FDA) for CAPVAXIVE™, previously known as V116, a 21-valent pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease and pneumococcal pneumonia in the adult population. The indication for pneumococcal pneumonia is under accelerated approval. The FDA approval of CAPVAXIVE triggers a $2 million milestone payment to Ligand and the company is entitled to a royalty on worldwide net sales.\n\n\n“We are excited to see our longstanding collaborator Merck receive regulatory approval for CAPVAXIVE,” said Todd Davis, CEO of Ligand. “We believe this asset will be an important contributor to our portfolio, which includes more than 25 commercial products including two marketed by Merck.”\n\n\nCAPVAXIVE utilizes the PeliCRM197® carrier protein which helps enhance antigen immunogenicity in conjugate vaccines. PeliCRM197 is produced using the Pfenex Expression Technology® platform which Ligand initially acquired in 2020 and ultimately spun out to Primrose Bio in September 2023. As part of the Primrose Bio transaction, Ligand retained the existing commercial royalties related to the Pfenex Expression Technology including CAPVAXIVE.\n\n\nLigand will now collect commercial royalties on six products developed with the Pfenex Expression Technology, including Merck’s CAPVAXIVE and VAXNEUVANCE®, Jazz Pharmaceuticals’ RYLAZE®, Alvogen’s Teriparatide Injection, and Serum Institute of India’s Pneumosil® and MenFive® vaccines.\n\n\nAbout Ligand Pharmaceuticals\n\n\nLigand is a biopharmaceutical company enabling scientific advancement through supporting the clinical development of high-value medicines. Ligand does this by providing financing, licensing our technologies or both. Its business model seeks to generate value for stockholders by creating a diversified portfolio of biopharmaceutical product revenue streams that are supported by an efficient and low corporate cost structure. Ligand’s goal is to offer inves...