RODES, Inc. and Ligand Pharmaceuticals have announced global license and supply agreements for three products in development using Ligand’s Captisol formulation technology, including intranasal budesonide/azelastine for the treatment of allergic rhinitis. RODES will pay all development and commercial costs, make milestone payments, and pay royalties of 8% – 11% on future net sales.
Ligand CEO John Higgins said, “We are very pleased to be partnering with RODES for these three Captisol programs. RODES executives have three decades of expertise with biologics and pharmaceuticals, and a track record of success in bringing development-stage programs through to commercialization to benefit patients and providers. This is another example of the importance of our Captisol formulation technology to potentially enable new and differentiated drugs.”
RODES CEO and founder John Sedor commented, “We are delighted to report the establishment of our initial portfolio of three differentiated products. We believe these new formulations of medicines will enable physicians and providers to provide effective solutions to unmet needs of patients to improve their quality of life and clinical outcomes. We are looking forward to advancing these three programs.”
Sedor is a former CEO of CPEX Pharmaceuticals. According to RODES, the company “specializes in growth investment and turnaround opportunities in the pharmaceuticals and biologics industry.”
Read the Ligand Pharmaceuticals press release.
