Ligand earns milestone from Pfizer
San Diego, US-based Ligand Pharmaceuticals has earned from Pfizer a milestone payment of approximately $2m.
San Diego, US-based Ligand Pharmaceuticals has earned from Pfizer a milestone payment of approximately $2m.
This is payable in 181,818 shares of Ligand stock held by Pfizer, as a result of Pfizer's confirmation of submission of a New Drug Application (NDA) to the FDA for lasofoxifene, a selective estrogen receptor modulator (SERM), for the prevention of osteoporosis in postmenopausal women. Ligand will receive 181,818 shares of stock and will retire the shares from treasury stock.
'If approved, lasofoxifene could provide an important new therapeutic option to postmenopausal women who are at risk for osteoporosis,' said Dr Andres Negro-Vilar Ligand's executive vice president of research and development and chief scientific officer. 'Clinical trials of next-generation SERMs such as lasofoxifene show an increase in bone mineral density and reduction of LDL cholesterol at least comparable to currently available first-generation SERMs.'
Long-term Phase II studies show that lasofoxifene has an improved profile in bone parameters, such as markers of bone resorption and one- and two-year lumbar spine bone mineral density with significant improvement over the current leading SERM, raloxifene (Evista). Similarly, LDL lowering was also more pronounced with lasofoxifene than with the standard dose of raloxifene. Phase III data submitted in the NDA is expected to be published during the course of the NDA review. Long-term studies under way may also provide additional information on the risks and benefits of lasofoxifene.
SERM
Lasofoxifene is a selective estrogen receptor modulator (SERM). According to the National Osteoporosis Foundation, eight million American women have osteoporosis and almost 27 million women are estimated to have osteopenia (low bone mass), placing them at increased risk for osteoporosis.