Ligand Spins Out And Merges Pelican Subsidiary With Primordial Genetics To Create Primrose Bio
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Ligand Pharmaceuticals has spun out its Pelican subsidiary and merged it with Primordial Genetics to form a new entity, Primrose Bio. Ligand will retain commercial royalties related to the Pelican Expression Technology and will own 49.9% of Primrose Bio.
September 18, 2023 | 9:18 pm
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Ligand Pharmaceuticals' spin-off and merger of its Pelican subsidiary could potentially diversify its revenue streams and increase its market presence. The company will retain commercial royalties and own 49.9% of the new entity, Primrose Bio.
The spin-off and merger of Ligand's Pelican subsidiary with Primordial Genetics to form Primrose Bio could potentially diversify Ligand's revenue streams and increase its market presence. The fact that Ligand will retain commercial royalties and own a significant stake in the new entity suggests a positive impact on its financial performance.
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