Ligand / TAP Pharmaceutical Products Collaborative Research Program
Business terms support Ligand’s march to profitability
- Research funding up to $20.2 million if research continues through June 2006
- Milestones - $14 million per compound developed; up to double-digit royalties
- TAP granted exclusive worldwide rights in its field
- Ligand retains certain field rights including prostate cancer, BPH, acne, hirsutism
- Ligand option to develop certain compounds not developed by TAP in its field