Ligand Completes Acquisition of Icagen Core Assets, Partnered Programs and Ion Channel Technologies
Summary
SAN DIEGO--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announces the completion of its acquisition of the core assets of Icagen’s North Carolina operations. Given our significant financial resources and talented operating team, we are well positioned to pursue acquisitions and new opportunities to expand our business.” The acquisition of Icagen brings Ligand the following: About Icagen’s Ion Channel Technology and Capability, and Integration with Ligand Technologies Icagen’s medicinal chemistry, in silico and computational chemistry (including artificial intelligence) applications and x-ray fluorescence assays integrate into and expand the drug discovery work at Vernalis as part of the Vernalis Design Platform (VDP). Our business model creates value for stockholders by providing a diversified portfolio of biotech and pharmaceutical product revenue streams that are supported by an efficient and low corporate cost structure. The Vernalis Design Platform (VDP) integrates protein structure determination and engineering, fragment screening and molecular modeling, with medicinal chemistry, to help enable success in novel drug discovery programs against highly-challenging targets. Ligand has established multiple alliances, licenses and other business relationships with the world’s leading pharmaceutical companies including Amgen, Merck, Pfizer, Sanofi, Janssen, Takeda, Gilead Sciences and Baxter International.