Palvella Therapeutics Expands Partnership with Ligand Pharmaceuticals to Accelerate P-III development of Qtorin Rapamycin
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- Under the terms Palvella is qualified to receive up front payment of $5M from Ligand & in exchange, Ligand's existing tiered royalty on global commercial sales of Qtorin rapamycin was raised to 8.0% to 9.8%
- Furthermore, Ligand gained the option to acquire a single-digit royalty on each new topical product developed from Palvella's QTORIN platform, with the ability to exercise this option in the future.
- Qtorin rapamycin, Palvella's primary candidate, is a novel 3.9% anhydrous gel designed for treating Microcystic Lymphatic Malformations and skin diseases linked to mTOR pathway overactivation. It has received FDA’s BTD, FTD & ODD for Microcystic LMs & FTD for the prevention of BCCs in Gorlin Syndrome
Ref: Yahoo Finance | Image: Palvella Therapeutics
Related News:- Ligand Purchases Palvella's Royalty Rights and Milestone Payments of PTX-022 for Pachyonychia Congenita
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Kritika is a content writer at PharmaShots. She is interested in covering recent innovations from the pharma & MedTech industry. She covers news related to Product approvals, clinical trial results, and updates. She can be contacted at connect@pharmashots.com.
