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Ligand completes acquisition of Icagen's North Carolina assets

Ligand Pharmaceuticals Inc. closed its $15 million acquisition of core assets of Icagen Inc.'s operations in North Carolina.

The deal covers Icagen's partnered programs with Roche Holding AG and the Cystic Fibrosis Foundation, focused on neurological diseases and cystic fibrosis, respectively.

San Diego-based Ligand also acquired six of Durham, N.C.-based Icagen's preclinical-stage internal programs which target certain disorders and diseases, including diabetes and Parkinson's disease.

Ligand previously said Icagen may receive additional cash payments of up to $25 million if it achieves certain milestones.