– USA, CA – Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) today announced the appointment of Todd Davis as CEO, succeeding John Higgins who retired as CEO and will resign from the Board of Directors on December 31, 2022.
“Todd Davis has been actively involved in setting Ligand’s strategic direction, and we are fortunate he has agreed to serve as CEO. Owing to his deep knowledge of Ligand and his vast experience successfully assembling life sciences royalty portfolios, we look forward to a seamless and orderly transition. Importantly Todd’s extensive royalty experience makes this an opportune time for him to take the helm at Ligand,” said Board Chairman, Dr. John Kozarich.
About Todd C. Davis
Todd Davis is currently a member of Ligand’s board of directors and is the Managing Partner of RoyaltyRx Capital, a special opportunities investment firm he founded in 2018.
Todd Davis said, “I am honored to assume the day-to-day leadership of Ligand. Together we are steadfast in our mission to create value for our shareholders by maximizing the value of our technologies and supporting our growing roster of pharmaceutical industry partners. We have thoughtful business strategies and look forward to employing them to accelerate Ligand’s growth and provide superior risk-adjusted returns.”
Mr. Davis has nearly 30 years of experience in biopharmaceutical and life sciences operations and investing. He has been involved in over $3 billion in healthcare financings including growth equity, public equity turnarounds, structured debt, and royalty acquisitions. He has led, structured, and closed more than 40 intellectual property licenses and royalty and hybrid royalty-debt transactions. Prior to founding RoyaltyRx Capital, Mr. Davis was a founder and Managing Partner at HealthCare Royalty Partners (formerly Cowen HealthCare Royalty Partners), a global healthcare investment firm. Previously, he was a partner responsible for biopharmaceutical growth equity investments at Apax Partners. Mr. Davis began his career at Abbott Laboratories, where he held multiple sales and marketing positions of increasing responsibility. Subsequently, he led corporate development and held strategic planning and general management responsibilities at Elan Pharmaceuticals.
Mr. Davis is a navy veteran with a B.S. from the U.S. Naval Academy and an M.B.A. from Harvard University. He serves on the boards of Palvella Therapeutics, a privately held biopharmaceutical company, Vaxart, a publicly traded biotechnology company, and ViroCell Biologics, Ltd., a privately held biotechnology company.
About Ligand Pharmaceuticals
Ligand is a revenue-generating biopharmaceutical company focused on developing or acquiring technologies that help pharmaceutical companies discover and develop medicines. Our business model creates value for stockholders by providing a diversified portfolio of biotech and pharmaceutical product revenue streams that are supported by an efficient and low corporate cost structure. Our goal is to offer investors an opportunity to participate in the promise of the biotech industry in a profitable, diversified, and lower-risk business than a typical biotech company. Our business model is based on doing what we do best: drug discovery, early-stage drug development, product reformulation, and partnering. We partner with other pharmaceutical companies to leverage what they do best (late-stage development, regulatory management, and commercialization) ultimately to generate our revenue. Ligand’s Captisol platform technology is a patent-protected, chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. Ligand’s Pelican Expression Technology is a robust, validated, cost-effective and scalable platform for recombinant protein production that is especially well-suited for complex, large-scale protein production where traditional systems are not. Ligand has established multiple alliances, licenses, and other business relationships with the world’s leading pharmaceutical companies including Amgen, Merck, Pfizer, Sanofi, Takeda, Gilead Sciences, and Baxter International.
For more information: https://www.ligand.com/
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