Ligand buys Ryjunea royalty, milestone interest from Sydnexis for $23 million
LGND•Ligand acquires Ryjunea payment rights
Ligand Pharmaceuticals bought a 100% interest in Sydnexis payment rights tied to Santen’s Ryjunea for a $23 million upfront payment.
The deal delivers an ascending tiered royalty on Ryjunea net sales in EMEA, ranging from low-double-digits to high-teens. The transaction also includes certain milestone payments under the existing Sydnexis-Santen license agreement.
Ryjunea background and remaining rights
Ryjunea is a once-nightly low-dose atropine eye drop to slow pediatric myopia progression, approved in the EU in June 2025.
Sydnexis keeps commercial rights outside Santen-licensed territories, including the U.S.
