Agreement valued at $164 million includes a Phase II candidate for thrombocytopenia.

Ligand Pharmaceuticals has licensed its thrombopoietin-related molecules, which includes a Phase II compound, to GlaxoSmithKline (GSK) for $5 million. The worldwide, exclusive arrangement also includes $158 million in development and commercial milestones.

LGD-4665 is in Phase II for treatment of thrombocytopenia, a condition of low-platelet levels commonly associated with a diverse range of clinical disorders. If approved, GSK will pay a 16% royalty on net sales. In the first year of sales, royalties will be half of the regular royalty rate.

GSK will direct all product development and commercialization and will be responsible for 100% of costs going forward for development, patent maintenance and prosecution, as well as commercialization.

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