Ligand acquires Ryjunea royalty rights for $23 million
- Ligand Pharmaceuticals (NASDAQ:LGND) agreed to acquire royalty and milestone interests tied to Santen’s Ryjunea eye drop for a $23 million upfront payment.
- The agreement gives Ligand rights to certain payments from Ryjunea sales in Europe, the Middle East, and Africa.
- Ligand stated that the deal expands its royalty portfolio through rights linked to a pediatric myopia treatment approved in Europe and the UK.
Ligand Pharmaceuticals (NASDAQ:LGND) agreed to acquire royalty and milestone interests in Santen’s Ryjunea eye drop for a $23 million upfront payment.
The transaction gives Ligand access to payments under Sydnexis’s existing license agreement with Santen, including royalties tied to Ryjunea net sales across Europe, the Middle East, and Africa.
Ligand will receive a 100% interest in certain payments, including an ascending tiered royalty ranging from low double-digit to high-teens percentages on regional net sales and specified milestone payments.
Ryjunea is a once-nightly 0.01% low-dose atropine eye drop designed to slow myopia progression in children aged 3–14 who meet specific severity and progression criteria.
Ryjunea received European Commission approval in June 2025 and UK MHRA approval in October 2025, while Sydnexis retains commercial rights in the United States and other non-Santen territories.
