Ligand Enters into Screening Agreement with Trevena
Date Posted: Tuesday, February 10, 2009
Ligand Pharmaceuticals Incorporated and Trevena Inc. have announced the initiation of a joint research and license alliance to screen targets using Trevena’s novel biological platform against Ligand’s combinatorial library of compounds, to identify active compounds with potential for development as novel G-protein coupled receptor therapeutics.
Under the terms of the agreement, Trevena has been granted exclusive worldwide rights to sublicense active compounds resulting from the collaboration. Ligand expects to screen 24 targets over two years and receive payments triggered by a tiered screening paradigm for each target.
“We are delighted to enter into this collaboration that allows us to generate cash flow from the combinatorial chemistry technology we gained through our acquisition of Pharmacopeia,” said John L. Higgins, President and Chief Executive Officer of Ligand. “Working closely with the Trevena team, we hope to rapidly identify and advance novel drug candidates using their unique insight into GPCR signaling pathways.”
Maxine Gowen, President and CEO of Trevena said, “We are excited to work with these exceptional scientists and get access to this proven chemistry platform. We believe that this collaboration will accelerate our drug discovery efforts and the validation of our biological platform.”
Further Information: http://www.trevenainc.com