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  5. Ligand Pharmaceuticals Acquires CorMatrix Cardiovascular - Synthetic Royalty and Milestone Rights

M&A Deal Summary

Ligand Pharmaceuticals Acquires CorMatrix Cardiovascular - Synthetic Royalty and Milestone Rights

On May 4, 2016, Ligand Pharmaceuticals acquired medical products company CorMatrix Cardiovascular - Synthetic Royalty and Milestone Rights from CorMatrix Cardiovascular for 18M USD

Acquisition Highlights
  • This is Ligand Pharmaceuticals’ 1st transaction in the Medical Products sector.
  • This is Ligand Pharmaceuticals’ 9th largest (disclosed) transaction.
  • This is Ligand Pharmaceuticals’ 6th transaction in the United States.

M&A Deal Summary
Date 2016-05-04
Target CorMatrix Cardiovascular - Synthetic Royalty and Milestone Rights
Sector Medical Products
Buyer(s) Ligand Pharmaceuticals
Sellers(s) CorMatrix Cardiovascular
Deal Type Divestiture
Deal Value 18M USD

Target

CorMatrix Cardiovascular - Synthetic Royalty and Milestone Rights

United States
CorMatrix Cardiovascular, Inc. - Synthetic Royalty and Milestone Rights is a developer of medical devices that are designed to permit the development and regrowth of human tissue.

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Buyer(S) 1

Buyer

Ligand Pharmaceuticals

Jupiter, California, United States
Category Company
Founded 1987
Sector Life Science
Employees68
Revenue 167M USD (2024)
DESCRIPTION

Ligand Pharmaceuticals is a pharmaceutical company, develops products for men's and women's hormone-related diseases, osteoporosis, metabolic disorders, and cardiovascular and inflammatory diseases. Ligand Pharmaceuticals was founded in 1987 and is based in Jupiter, Florida.

DEAL STATS #
Overall 6 of 16
Sector (Medical Products) 1 of 1
Type (Divestiture) 1 of 2
Country (United States) 6 of 14
Year (2016) 1 of 1
Size (of disclosed) 9 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-17 Open Monoclonal Technology

Palo Alto, California, United States

Open Monoclonal Technology, Inc. (OMT) is a biotechnological company provides genetic engineering of animals for discovery of human therapeutic antibodies, naturally optimized human antibodies® and the only company with three transgenic animal platforms, collectively known as OmniAb™. All OmniAb platforms — OmniRat®, OmniMouse®, and OmniFlic™ — have broad freedom to operate, are protected by new patents and patent applications, and are available for all targets and indications

Buy $178M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-04 Crystal Bioscience

Emeryville, California, United States

Crystal Bioscience, Inc. is a provider of an isolate monoclonal antibodies from immunized chickens, and can screen simultaneously for specificity and biological activity. Crystal Bioscience is based in Emeryville, California.

Buy $25M

Seller(S) 1

SELLER

CorMatrix Cardiovascular

Roswell, Georgia, United States
Category Company
Sector Medical Products
DESCRIPTION

CorMatrix Cardiovascular, Inc. is a privately held medical device company dedicated to developing and delivering innovative biomaterial devices that harness the body’s innate ability to repair damaged cardiac and vascular tissue.

DEAL STATS #
Overall 1 of 1
Sector (Medical Products) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
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