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Ligand Pharmaceuticals, Inc.

Drug Names(s): Remofovir mesylate; Hepavir B

Description: Pradefovir is a HepDirect prodrug of the proven hepatitis B drug adefovir. When administered, pradefovir is designed to generate an active form of adefovir primarily in the liver, where the virus resides, while limiting exposure outside the liver. Adefovir is phosphorylated to the active metabolite, adefovir diphosphate, by cellular kinases. Adefovir diphosphate inhibits HBV DNA polymerase (reverse transcriptase) by competing with the natural substrate deoxyadenosine triphosphate and by causing DNA chain termination after its incorporation into viral DNA.

Deal Structure: Valeant licensed remofovir from Metabasis in October 2001 and is primarily responsible for theclinical development of the drug.

In December 2006, Schering-Plough licensed pradefovir from Valeant and Metabasis. Valeant (formerly ICN Pharmaceuticals) had licensed the drug from Metabasis in October 2001. All further development of Pradefovir is now the responsibility of Schering-Plough.

In July 2007, Metabasis announced that it had been informed by Schering-Plough of its intention to terminate the agreements it entered into with Metabasis and Valeant Pharmaceuticals International for the development and commercialization of pradefovir and to return all rights to the product back to Metabasis.

In October 2009, Ligand Pharmaceuticals and Metabasis Therapeutics announced they entered into a definitive merger agreement under which Ligand will acquire all of the outstanding shares of Metabasis. The acquisition was completed in January 2010.

In January 2011, Ligand...See full deal structure in Biomedtracker

Partners: Valeant Pharmaceuticals International, Inc. Chiva Pharmaceuticals, Inc.

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