DealsApr 30, 2026, 04:46 PM
LGND terminates TR-Beta Program with Viking due to alleged breach
AI Summary
Ligand Pharmaceuticals (LGND) terminated its TR-Beta Program with Viking Therapeutics, Inc. (Viking) under their Master License Agreement, effective May 4, 2026. LGND asserted Viking materially breached its obligation to use commercially reasonable efforts to develop and commercialize the program, which includes VK2809 and VK0214. Upon termination, Viking's licenses for the program cease, and Viking is obligated to grant LGND a non-exclusive, royalty-bearing license for related Patent Rights and Know-How. Viking is disputing LGND's right to terminate, while LGND intends to vigorously enforce its rights.
Key Highlights
- LGND terminated the TR-Beta Program with Viking Therapeutics on April 24, 2026.
- Termination is effective May 4, 2026, due to Viking's alleged material breach of "Commercially Reasonable Efforts."
- The program includes drug candidates VK2809 and VK0214.
- All licenses granted to Viking for the TR-Beta Program will terminate.
- Viking is obligated to grant LGND a non-exclusive, low single-digit royalty-bearing license for related IP.
- Viking is disputing LGND's right to terminate the program.
- LGND intends to vigorously enforce its termination rights under the License Agreement.