Ligand Pharmaceuticals Enters Financing Agreement with AvenCell Therapeutics Worth Up to $47M
Ligand Pharmaceuticals (NASDAQ: LGND) has entered into a financing agreement worth up to $47 million with privately held biotech firm AvenCell Therapeutics. The deal is intended to support the development of AvenCell’s pipeline, particularly its lead asset AVC-201, an anti-CD123 CAR-T therapy currently in Phase 1b expansion trials. AvenCell, based in Cambridge, Massachusetts, focuses on innovative cell therapies for cancer treatment. Ligand's investment underscores continued interest and capital flow into the rapidly evolving field of CAR-T cell therapy development. The agreement highlights strategic partnerships as a key driver in advancing cutting-edge oncology treatments to market.
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