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.

GJE client, Vernalis, is a subsidiary of Ligand Phamaceuticals.  Gill Jennings & Every provided advice on the IP-related aspects of the transaction, led by Fiona Stevens and Ian Jones.

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GJE has a dedicated investor group, focused on understanding the needs of today’s investors and developing services to meet those needs. See here for more information. Fiona Stevens has taken part in developing the firm’s unique IP services, ConsultIP. Included within the ConsultIP products is the Due Diligence Audit to support investors. It assesses the IP owned by a target company to ensure it covers their innovation, and evaluates the execution of its business plan, to minimise IP-risk and maximise return on investment.