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Novartis to fund oral skin cancer drug

Ligand Pharmaceuticals Inc. is partnering with Novartis AG to develop a liquid formulation of Trametinib using its Captisol technology.

Trametinib is used to treat a certain type of skin cancer with Captisol designed to optimize the solubility and stability of drugs.

Novartis will fund the program in exchange for commercialization rights. Ligand will receive an undisclosed license fee as well as royalties on future sales as a result of the agreement.