Benzinga | Jul 21, 2021 09:16AM EDT

Ligand Partner Jazz Pharmaceuticals Launches RYLAZE; Ligand Expects To Receive $7M In Milestone Payments

Ligand expects to receive $7 million in milestone payments

Rylaze for the treatment of ALL or LBL utilizes Ligand's Pelican Expression Technology(tm) Platform

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) today announced Jazz Pharmaceuticals plc (NASDAQ:JAZZ) has launched Rylaze(tm)(asparaginase erwinia chrysanthemi (recombinant)-rywn), also known as JZP458. Rylaze, which was approved by the FDA on June 30, 2021, is a recombinant erwinia asparaginase used as a component of a multi-agent chemotherapeutic regimen for the treatment of acute lymphoblastic leukemia (ALL) or lymphoblastic lymphoma (LBL) in adult and pediatric patients 1 month or older who have developed hypersensitivity to E. coli-derived asparaginase.

Under the terms of the license agreement with Jazz Pharmaceuticals, Ligand received a $2 million payment upon FDA's acceptance for review of the product BLA and is entitled to receive a $5 million payment upon the first commercial sale following launch. Ligand is eligible to receive up to an additional $155.5 million in milestone payments and tiered low to mid-single digit royalties based on worldwide net sales of any products resulting from this collaboration, including Rylaze.