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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