Benzinga | Oct 21, 2021 01:13PM EDT

Ligand Outlicenses BEPro Tech To Develop Oral COVID-19 Antivirals

* Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has signed a collaboration agreement with Double-Crane Pharmaceutical Co Ltd (CRDC).

* The agreement grants CRDC exclusive Asia territorial rights to develop an oral COVID-19 antiviral using Ligand's BEPro technology.

* Ligand will receive an upfront payment regarding the collaboration, and if the program advances, clinical and regulatory milestone payments, and tiered royalties on net sales.

* CRDC will be responsible for all costs related to the program.

* BEPro is a proprietary prodrug technology that is specifically applicable to nucleotides and nucleotide analogs to develop compounds with improved product profiles.

* Ligand has generated preclinical pharmacokinetics data showing its oral BEPro-enabled COVID-19 antivirals to have a favorable blood concentration profile and generate lower levels of active nucleotide in the kidney a potential site for toxicity.

* Price Action: LGND shares are up 1.05% at $132.78 during the market session on the last check Thursday.