Ligand Pharmaceuticals
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Axial partners with great founders and inventors. We invest in early-stage life sciences companies such as Appia Bio, Seranova Bio, Delix Therapeutics, Simcha Therapeutics, among others often when they are no more than an idea. We are fanatical about helping the rare inventor who is compelled to build their own enduring business. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company . We are excited to be in business with you - email us at info@axialvc.com
Ligand, similar to XOMA, initially tried, but failed, to successfully develop their own drugs. After Dan Loeb becoming an activist and changing leadership, Ligand shifted its strategy toward buying royalties and forming technology partnerships.
A core part of Ligand is developing/acquiring new technologies to license to biopharma companies & get a piece of the drugs they develop with them. They also use their balance sheet, but their 3 platforms give them more optionality for their portfolio: OmniAb, Captisol, & Pelican.
Ligand’s business model is focused on exposure to products without the risks of future equity dilution. The company generates >$50M in cash flow across >100 programs. Spreading bets & relying on other people’s money to find winners.
When compared to Royalty Pharma or XOMA, Ligand uses both their balance sheet and technology to build a portfolio of royalties. Learn more about Ligand here:
https://www.ligand.com/