initiated a joint research and license alliance related to G-protein coupled receptor (GPCR
) therapeutics. Trevena’s platform will be used to screen targets against Ligand’s combinatorial library of compounds.
Under the terms of the agreement, Trevena has been granted exclusive, worldwide rights to sublicense active compounds resulting from the collaboration. Ligand expects to screen 24 targets over two years and receive payments triggered by a tiered screening paradigm for each target.
“We are delighted to enter into this collaboration that allows us to generate cash flow from the combinatorial chemistry technology we gained through our acquisition of Pharmacopeia,” says John L. Higgins, president and CEO of Ligand. In September 2008, Ligand offered to buy Pharmacopeia for $55 million.
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