LGND in the news: SPPI licensing of Captisol-Melphalan
Spectrum Pharmaceuticals (SPPI) recently acquired global development and commercialization rights to Ligand Pharmaceuticals Inc’s (LGND) Captisol-enabled, propylene glycol-free (PG-free) melphalan. Captisol-enabled melphalan is currently being developed as a conditioning treatment before autologous stem cell transplant for patients suffering from multiple myeloma.
Ligand Pharma will be receiving a license fee, milestone payments and royalties from Spectrum Pharma following potential commercialization of the candidate. Spectrum Pharma will now be responsible for the ongoing pivotal clinical study on the candidate. The company expects to file a New Drug Application (:NDA) with the US Food and Drug Administration (:FDA) in the first half of 2014.
The news is encouraging for Spectrum Pharma. The deal will add another late-stage program to Spectrum Pharma’s portfolio. The company already has belinostat and apaziquone in its late stage program.