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Ligand Purchases Palvella's Royalty Rights and Milestone Payments of PTX-022 for Pachyonychia Congenita

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Ligand Purchases Palvella's Royalty Rights and Milestone Payments of PTX-022 for Pachyonychia Congenita

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  • Palvella will receive $10M as total deal value from Ligand- and will be responsible for PTX-022 development and commercialization. Ligand to get milestones and royalties on sales of PTX-022
  • The focus of the agreement is to develop PTX-022 for its approval- with its expected launch in 2022. In Nov- 2018 PTX-022 has received FDA’s ODD and Fast Track Designation for Pachyonychia Congenita
  • PTX-022 is a topical formulation of rapamycin mTOR inhibitor developed using Palvella’s Qtorin technology- evaluated in P-II/III for pachyonychia congenita
Ref: Ligand Pharmaceuticals | Image: Fortune

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