M&A Deal Summary

Ligand Pharmaceuticals Acquires Pfenex

On August 10, 2020, Ligand Pharmaceuticals acquired life science company Pfenex for 438M USD

Acquisition Highlights
  • This is Ligand Pharmaceuticals’ 10th transaction in the Life Science sector.
  • This is Ligand Pharmaceuticals’ largest (disclosed) transaction.
  • This is Ligand Pharmaceuticals’ 10th transaction in the United States.
  • This is Ligand Pharmaceuticals’ 5th transaction in California.

M&A Deal Summary
Date 2020-08-10
Target Pfenex
Sector Life Science
Buyer(s) Ligand Pharmaceuticals
Deal Type Add-on Acquisition
Deal Value 438M USD
Advisor(s) William Blair (Financial)
Wilson Sonsini Goodrich & Rosati (Legal)

Target

Pfenex

San Diego, California, United States
Pfenex, Inc. is a development and licensing biotechnology company with commercial products focused on leveraging its proprietary protein production platform, Pfenex Expression Technology®, to develop next-generation and novel protein therapeutics to meaningfully improve existing therapies and create novel therapies for biological targets linked to critical, unmet diseases. Pfenex is based in San Diego, California.

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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 11 of 16
Sector (Life Science) 10 of 15
Type (Add-on Acquisition) 9 of 13
State (California) 5 of 8
Country (United States) 10 of 14
Year (2020) 2 of 4
Size (of disclosed) 1 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-11 Icagen - North Carolina Operations

North Carolina, United States

Icagen, Inc. - North Carolina Operations includes partnered programs, proprietary ion channel screening and assay platforms, x-ray fluorescence capabilities, custom screening technologies and novel unpartnered preclinical-stage molecules.

Buy $15M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-10 Taurus Biosciences

San Diego, California, United States

Taurus Biosciences LLC is a biotechnology company that discovers and develops novel cow antibodies. Cow antibodies have the longest CDR3s of any species, with unique genetic and structural diversity that can enable binding to challenging antigens. Taurus Biosciences is based in San Diego, California.

Buy $5M
Mergr

Product

Company

Legal