Ligand Pharmaceuticals has announced the signing of a license agreement granting Cumulus Oncology exclusive worldwide rights to develop and commercialise VER250840, a novel, oral, selective, preclinical Chk1 Kinase Inhibitor discovered using Ligand’s Vernalis Design Platform (VDP). Under the terms of the agreement, Ligand will receive an upfront license fee, and is eligible to receive over $76 million of milestone payments and tiered royalties in the mid-to-high single digit range, depending on revenue. In addition, Ligand is eligible to receive an additional fee, payable in cash or Cumulus equity, upon Cumulus achieving specified financing-related events.
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