Ligand enters financing deal with AvenCell Therapeutics for up to $47 million
LGND•Ligand Pharmaceuticals agreed to provide AvenCell Therapeutics with up to $47 million to fund its allogeneic CAR-T programs. The deal includes up to $41 million tied to royalties and up to $6 million in AvenCell’s Series C financing.
1. Funding terms and programs
The agreement provides up to $41 million in exchange for a mid-single-digit to low-double-digit royalty on worldwide net sales across AvenCell’s pipeline, with funding paid in four tranches. Later payments depend on clinical milestones and specified financing conditions. Ligand also committed up to $6 million in AvenCell’s Series C financing; proceeds will support AVC-201’s Phase 1b AML expansion study and AVC-203’s Phase 1a study for B-cell malignancies.
