other material
confidence high
sentiment positive
materiality 0.70
Ligand leads $75M royalty financing for Castle Creek's D-Fi gene therapy Phase 3 trial
LIGAND PHARMACEUTICALS INC
- Ligand invested $50M and led syndicate of co-investors totaling $75M for high single-digit royalty on D-Fi worldwide sales.
- Castle Creek to use funds for Phase 3 trial of D-Fi (gene therapy) for dystrophic epidermolysis bullosa (DEB).
- Ligand also acquired $8.3M subordinated promissory note for $1.8M, due upon FDA approval of D-Fi.
- Co-investors include Paragon Biosciences, Valor Equity Partners, and XOMA Royalty Corp. (Nasdaq: XOMA).
- Warrants to purchase Series D-1 Preferred Shares exercisable until 2035.