Ligand acquires 13% interest in soticlestat royalties and milestones from Ovid for $30M

LIGAND PHARMACEUTICALS INC

Ligand will pay Ovid $30M for a 13% interest in all royalties and milestones owed to Ovid on soticlestat.
Soticlestat is in Phase 3 trials for Lennox-Gastaut and Dravet syndromes; Takeda expects regulatory filing in FY2024 (Apr 2024-Mar 2025).
Ovid eligible for up to $660M in milestones plus tiered royalties (low double-digits to 20%) on global sales if approved.
Takeda bears all development costs; Ovid has no ongoing obligations or costs.

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