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