M&A Deal Summary

Ligand Pharmaceuticals Acquires Novan

On September 27, 2023, Ligand Pharmaceuticals acquired life science company Novan for 12M USD

Acquisition Highlights
  • This is Ligand Pharmaceuticals’ 13th transaction in the Life Science sector.
  • This is Ligand Pharmaceuticals’ 11th largest (disclosed) transaction.
  • This is Ligand Pharmaceuticals’ 13th transaction in the United States.
  • This is Ligand Pharmaceuticals’ 2nd transaction in North Carolina.

M&A Deal Summary
Date 2023-09-27
Target Novan
Sector Life Science
Buyer(s) Ligand Pharmaceuticals
Deal Type Special Situations/Distressed
Deal Value 12M USD

Target

Novan

Durham, North Carolina, United States
Novan is a specialty dermatology company focused on researching, developing, and marketing innovative therapeutic products for skin diseases. Novan was founded in 2006 and is based in Durham, North Carolina.

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Buyer(S) 1

Buyer

Ligand Pharmaceuticals

Jupiter, California, United States
Category Company
Founded 1987
Sector Life Science
Employees58
Revenue 131M USD (2023)
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 14 of 16
Sector (Life Science) 13 of 15
Type (Special Situations/Distressed) 1 of 1
State (North Carolina) 2 of 2
Country (United States) 13 of 14
Year (2023) 1 of 2
Size (of disclosed) 11 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-12 Vernalis

Winnersh, United Kingdom

Vernalis Plc is a commercial stage pharmaceutical company with three marketed products; Tuzistra® XR in the US prescription cough cold market, Moxatag®, a once-a-day formulation of the antibiotic amoxicillin, also for the US prescription market, and frovatriptan an acute treatment for migraine. Vernalis Plc was founded in 1988 and is based in Winnersh, United Kingdom.

Sell $25M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-01 Tolerance Therapeutics

San Diego, California, United States

Tolerance Therapeutics is a biopharmaceutical company engaged in biotech and pharmaceutical manufacturing. Tolerance Therapeutics is based in San Diego, California.

Buy $20M
Mergr

Product

Company

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