Ligand Invests Up to $47 Million in AvenCell Therapeutics

JUPITER, Fla., Sept. 24, 2026 /CourierPR/ -- Ligand Pharmaceuticals Incorporated has entered into a financing agreement with AvenCell Therapeutics, Inc., a clinical-stage cell therapy company, to advance the development of next-generation CAR-T therapies. The deal, worth up to $47 million, will support AvenCell’s pipeline, including its lead program AVC-201 for the treatment of relapsed or refractory acute myeloid leukemia (AML) and AVC-203 for B-cell malignancies.

Under the terms of the agreement, Ligand has committed to an initial investment of $41 million. This funding will be provided in four tranches: the first at the closing of the agreement, and the remaining three upon the achievement of predetermined clinical milestones and other specified financing conditions. In exchange, Ligand will receive a mid single-digit to low double-digit royalty on worldwide annual net sales of AvenCell’s pipeline assets, including AVC-201 and AVC-203.

AvenCell, founded in 2021, combines switchable CAR-T technology with CRISPR-engineered allogeneic CAR-T therapies. The company’s proprietary platform aims to provide greater control over CAR-T activity, making it a potentially significant advancement in the treatment of hematologic malignancies and autoimmune diseases. AVC-201, an anti-CD123 CAR-T, is currently in a Phase 1b expansion trial for the treatment of relapsed or refractory AML. AvenCell is also advancing AVC-203, a Phase 1a program for B-cell malignancies.

Ligand, a leading royalty aggregator, owns and manages one of the largest and most diversified portfolios of biopharmaceutical royalties in the industry, with economic interests in more than 200 development and commercial-stage assets. The company funds high-value programs in exchange for long-term economic interests, aligning capital with clinical and commercial success.

Forward-looking statements in this press release are subject to various risks and uncertainties, including the possibility that conditions to future funding are not satisfied or that optional investments are not made. AvenCell’s ability to use the financing as anticipated and to continue funding its operations and development programs is also subject to these risks. The preliminary nature of clinical data and the limited number of patients evaluated to date, as well as the potential for adverse events, safety issues, or unfavorable benefit-risk profiles, are additional factors that could impact the development and commercialization of AvenCell’s products.

The press release also mentions that Ligand’s royalty portfolio strategy and expected revenue characteristics are detailed in its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission on February 27, 2026, and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2026, and June 30, 2026, filed with the SEC on May 8, 2026, and August 7, 2026, respectively.