Ligand, Palvella expand partnership to accelerate QTORIN rapamycin development

Palvella Therapeutics and Ligand Pharmaceuticals announced the expansion of their strategic partnership to accelerate Phase 3 development of QTORIN rapamycin for the treatment of Microcystic Lymphatic Malformations. According to the terms of the amended agreement, Palvella received an upfront payment of $5 million from Ligand. In return, Ligand’s existing tiered royalty on worldwide commercial sales of QTORIN rapamycin increased to 8.0-9.8%. Additionally, Ligand was granted an option to acquire a single-digit royalty on each novel topical product candidate generated from Palvella’s QTORIN platform which can be exercised at a future date.