GENEVA, April 30, 2013 /PRNewswire/ -- Selexis SA, a serial innovation company focused on drug discovery for lead identification and cell line development for scale-up and manufacturing of therapeutic protein drugs, announced today that it has closed an agreement with Ligand Pharmaceuticals Incorporated to sell potential milestone and royalty payments for more than 15 biologic development programs from Selexis.
The acquired programs are in various preclinical and clinical stages. Funds from the Ligand deal will be used for R&D to further develop the next generation of SUREtechnology Platform™ products. Torreya Partners acted as financial advisor to Selexis. Selexis currently holds milestone and potential royalty interest payment rights to an additional 14 biologic development programs not included in the Ligand deal.
"With this truly innovative financing solution, Selexis was able to leverage a percentage of potential future revenues to fund, reinforce and expand our SUREtechnology Platform," said Dr. Igor Fisch, CEO, Selexis SA. "The non-diluting funds will support the growth of our products and technologies faster. The Company's SUREtechnology Platform is a powerful engine that continues to fuel royalty opportunities for Selexis."
About Selexis SA
Headquartered in Geneva, Switzerland, Selexis SA is a global life science company with innovative technologies and world-class expert services for drug discovery, cell line development and scale-up to manufacturing of therapeutic proteins. The Company's SUREtechnology Platform™ is based on Selexis Genetic Elements™ — novel DNA-based elements that control the dynamic organization of chromatin within all mammalian cells and allow for higher and more stable expression of recombinant proteins. Selexis has generated over 1,700 cell lines being used in a variety of programs from drug discovery to late-stage clinical trials.
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SOURCE Selexis SA