Ligand Acquires Financial Rights to More Than 15 Fully-Funded Development Programs from Selexis SA

  Ligand Acquires Financial Rights to More Than 15 Fully-Funded Development
  Programs from Selexis SA

  Ligand’s Portfolio Now Features More Than 85 Fully-Funded Partnered Assets

Business Wire

SAN DIEGO -- April 30, 2013

Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) has acquired a portfolio of
potential future milestone and royalty payments for more than 15 biologic
development programs from Selexis SA. Each acquired program is fully funded by
a development partner. Geneva, Switzerland-based Selexis is a privately held
global life science company focused on drug discovery for lead identification
and cell line development for scale-up and manufacturing of therapeutic
protein drugs.

The basis for the development programs is Selexis’ proprietary technology
platform for generating stable and high performing manufacturing mammalian
cell lines for biologic therapeutics. The acquired assets include potentially
groundbreaking mechanisms of action of biological drugs and expand Ligand’s
presence in large, growing therapeutic markets such as oncology, inflammation
and autoimmune diseases. The acquired programs are in various stages of
preclinical and clinical development.

“This acquisition significantly expands Ligand’s already robust portfolio to
more than 85 fully-funded assets, and diversifies our portfolio beyond small
molecule therapeutics into biologics,” commented John Higgins, President and
Chief Executive Officer of Ligand. “The acquired rights are a great fit with
our royalty-based business model, and the deal does not require operational
integration or ongoing technical responsibilities from Ligand. We believe this
acquisition reinforces the strength of our shots-on-goal strategy and has the
potential to provide Ligand with numerous new drivers of long-term growth.”

About Ligand Pharmaceuticals

Ligand is a biopharmaceutical company that develops and acquires assets it
believes will generate royalty revenues and, under its lean corporate cost
structure, produce sustainable profitability. Ligand has a diverse asset
portfolio addressing the unmet medical needs of patients for a broad spectrum
of diseases including thrombocytopenia, multiple myeloma, diabetes, hepatitis,
muscle wasting, dyslipidemia, anemia and osteoporosis. 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 has established multiple alliances with the world's leading
pharmaceutical companies including GlaxoSmithKline, Onyx Pharmaceuticals,
Merck, Pfizer, Baxter International, Bristol-Myers Squibb, Celgene, Lundbeck
Inc., Eli Lilly & Co., Spectrum Pharmaceuticals and The Medicines Company.
Please visit www.captisol.com for more information on Captisol or
www.ligand.com for more information on Ligand.

Follow Ligand on Twitter @Ligand_LGND.

Forward-Looking Statements

This news release contains certain forward-looking statements by Ligand that
involve risks and uncertainties and reflect Ligand's judgment as of the date
of this release. These statements include those related to the possible impact
of the transaction with Selexis SA on Ligand’s long term growth, the possible
collection risk associated with the transaction, clinical trials of the drug
candidates covered by the relevant commercial license agreements, their
profile, market size and possibility of commercial success, efficacy, potency,
competitiveness and the strength of Ligand's product portfolio. Actual events
or results may differ from our expectations. For example, there can be no
assurance that the drug candidates covered by the relevant commercial license
agreements will progress through clinical development or receive required
regulatory approvals within the expected timelines or at all, that further
clinical trials will confirm any safety or other characteristics or profile,
that there will be a market of any size for such drug candidates or that such
drug candidates will be beneficial to patients or successfully marketed. In
addition, there can be no assurance that Ligand will achieve its guidance or
forecast. The failure to meet expectations with respect to any of the
foregoing matters may have a negative effect on Ligand's stock price.
Additional information concerning these and other risk factors affecting
Ligand's business can be found in prior press releases available via
www.ligand.com as well as in Ligand's public periodic filings with the
Securities and Exchange Commission at www.sec.gov. Ligand disclaims any intent
or obligation to update these forward-looking statements beyond the date of
this release. This caution is made under the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995.

Contact:

Ligand Pharmaceuticals Incorporated
John Higgins, President and CEO
Jennifer Capuzelo, Investor Relations
(858) 550-7584
jcapuzelo@ligand.com
or
LHA
Don Markley
(310) 691-7100
dmarkley@lhai.com