Ligand Announces Investment in Dianomi Therapeutics

SAN DIEGO–(BUSINESS WIRE)–Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announces closing an investment in Dianomi Therapeutics, Inc., a biopharmaceutical company focused on improving the delivery and efficacy of large and small molecules in the treatment of a variety of diseases and on therapies for inflammatory diseases, such as osteoarthritis and pain. Ligand paid a total of $3 million to Dianomi in exchange for 1) a tiered royalty of two or three percent based on level of net sales f