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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Machaon who wrote (22598)	6/22/1998 7:10:00 PM
From: Andrew H	Respond to of 32384

Thanks for the clarification, Bob. By the way, I love the name "mudrat." (:>)

To: Machaon who wrote (22598)	6/22/1998 9:13:00 PM
From: Robert L. Ray	Read Replies (1) \| Respond to of 32384

>>>>>By the way, anyone know who was the company's 1985 scientific discoverer?<<< I just copy/pasted this from the Ligand 10-K. Maybe this is the guy your asking about. In October 1988, Ligand established an exclusive relationship with The Salk Institute which is one of the research centers in the area of IR technology. Dr. Ronald Evans, who cloned and characterized the first IR in 1985 and who invented the co-transfection assay used by Ligand, is a professor in the Gene Expression Laboratory of The Salk Institute and an Investigator of the Howard Hughes Medical Institute. Under the agreement, Ligand has an exclusive, worldwide license to the IR technology developed by Dr. Evans' laboratory at The Salk Institute. Subject to compliance with the terms of the agreement, the term of the license extends for the life of the patents covering such developments. Under the agreement, Ligand made an initial payment to The Salk Institute and issued shares of Common Stock as partial consideration for the license. Ligand is also obligated to make certain royalty payments based on sales of certain products developed using the licensed technology, as well as certain minimum annual royalty payments. Ligand also entered into exclusive consulting agreements with Dr. Evans that continue through July 1998. Under these agreements, Dr. Evans has purchased Common Stock and has been granted options to purchase Common Stock. As a consultant, Dr. Evans meets on a regular basis with Company personnel to review ongoing research and to assist Ligand in defining the technical objectives of future research. Dr. Evans is also involved in identifying new developments made in other leading academic laboratories which relate to Ligand's research interests. Dr. Evans serves as Chairman of Ligand's Scientific Advisory Board.

To: Machaon who wrote (22598)	6/22/1998 9:38:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Bob, I was the scientific founder of Progenx in 1987. In 1988, Ron Evans' technology was exclusively licensed by Progenx from the Salk. In 1989 Progenx became Ligand. Ron Evans published the first IR sequence in 1985. It was the sequence of the glucocorticoid receptor and was soon followed by many more sequences (most of the early sequences came out of Ron Evans' lab and he has been an exclusive consultant to Ligand ever since the technology was licensed in 1988).