SmithKline Beecham Invests In Ligand
SmithKline Beecham's business investment affiliate, S R One, has made an additional equity investment of $2.5 million in Ligand for a milestone reached in the research collaboration initiated in February this year (Marketletter February 13).
"We are very pleased that our collaboration with SmithKline Beecham has made such good progress in a short period of time," commented Robert Stein, senior vice president and chief scientific officer at Ligand.
The two pharmaceutical companies are working together on utilization of Ligand's proprietary technology relating to signal transducers and activators of transcription to discover and characterize small-molecule, orally-bioavailable drugs to control formation and the development of blood cells.
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