Ovid Therapeutics and Ligand Pharma Ink a $30M Deal for a 13% Interest in Soticlestat Royalties and Milestones Extending Ovid's Cash Runway into 2026
Author: Benzinga Newsdesk | October 18, 2023 08:04am
Ovid Therapeutics Inc. (NASDAQ:OVID), a biopharmaceutical company dedicated to developing medicines that transform the lives of people with rare epilepsies and seizure-related disorders, and Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) today announced that Ligand has acquired a 13 percent portion of the royalties and milestones owed to Ovid related to the potential approval and commercialization of soticlestat. In return, Ovid will receive a $30 million payment, less certain reimbursable expenses.
Posted In: LGND OVID