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Ligand Pharmaceuticals, Inc.

Drug Names(s): NG2-73

Description: Adipiplon selectively modulates certain subtypes of receptors of the gamma aminobutyric (GABA) neurotransmitter system, the main inhibitory neurotransmitter of the central nervous system.

Deal Structure: Adipiplon was originally developed by Neurogen.

In August 2009, Ligand Pharmaceuticals and Neurogen announced they have entered into a definitive merger agreement under which Ligand will acquire Neurogen. Under the transaction, Neurogen stockholders will receive an estimated $11 million in Ligand common stock. The acquisition was completed in December 2009.

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