Ligand Announces Positive Preclinical Data for Glucagon Program in Model of Type 1 Diabetes

  Ligand Announces Positive Preclinical Data for Glucagon Program in Model of
  Type 1 Diabetes

  Data Presented at American Diabetes Association 73^rd Scientific Sessions

Business Wire

SAN DIEGO -- June 24, 2013

Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announced the presentation
of a poster titled “Glucagon Receptor Antagonist LGD-6972 Is Efficacious in
Streptozotocin-Induced Diabetic Mice” at the 73^rd Scientific Sessions of the
American Diabetes Association in Chicago. The poster provides data from
preclinical studies of Ligand’s novel compound, LGD-6972, demonstrating
significant glucose lowering activity in an animal model of type 1 diabetes.

Highlights of the presentation include:

  *LGD-6972 is a potent and selective antagonist of the glucagon receptor
    (GCGR) that has previously demonstrated activity in pre-clinical models of
    type 2 diabetes.
  *LGD-6972 significantly lowered fasting and non-fasting glucose levels in a
    mouse model of type 1 diabetes.
  *LGD-6972 reduced HbA1c, ketone bodies, and free fatty acids in diabetic
    mice.
  *LGD-6972 had additive effects when used in combination with insulin
    therapy and may be useful in an insulin sparing regimen.

“Glucagon receptor antagonism could play an important role in the treatment of
diabetes. Previous studies have demonstrated efficacy in models of type 2
diabetes and the present work shows utility for type 1 diabetes as well,”
commented Matthew W. Foehr, Executive Vice President and Chief Operating
Officer of Ligand. “Our glucagon program is an important example of the
diversity of partnered and unpartnered products making up Ligand’s extensive
portfolio of assets. We plan to submit an IND for LGD-6972 in the second half
of 2013.”

About Ligand’s Glucagon Receptor Antagonist Program

Glucagon is a hormone produced by the pancreas that stimulates the liver to
produce glucose (sugar). Overproduction of glucose by the liver is an
important cause of high glucose levels in patients with type 2 diabetes and is
believed to be due in part to inappropriately elevated levels of glucagon.
High glucose levels can cause diabetic complications such as blindness and
kidney disease. Glucagon receptor antagonists are designed to lower glucose
levels by reducing the production of glucose by the liver. Glucagon receptor
antagonists are novel molecules that have demonstrated a reduction of glucose
and hemoglobin A1c in mid-stage clinical trials.

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 and
www.ligand.com for more information on Ligand.

Follow Ligand on Twitter @Ligand_LGND.

Forward-Looking Statements

This news release contains forward-looking statements by Ligand that involve
risks and uncertainties and reflect Ligand’s judgment as of the date of this
release. These include statements regarding data analysis and evaluation of
LGD-6972 and/or other Glucagon receptor antagonists, utility or potential
benefits to patients, plans for continued development and further studies of
such compounds. Actual events or results may differ from our expectations. For
example, there can be no assurance that other trials or evaluations of
LGD-6972 and/or other Glucagon receptor antagonists will be favorable or that
they will confirm results of previous studies, that data evaluation will be
completed or demonstrate any hypothesis or endpoint, that such compounds will
provide utility or benefits to certain patients, that any presentations will
be favorably received, that such compounds will be useful with other drugs,
that marketing applications will be filed or, if filed, approved, or that
clinical or commercial development of these drugs will be initiated, completed
or successful or that our rights to LGD-6972 and/or other Glucagon receptor
antagonists will not be successfully challenged. The failure to meet
expectations with respect to any of the foregoing matters may reduce 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
or
Jennifer Capuzelo, Investor Relations
jcapuzelo@ligand.com
858-550-7584
or
LHA
Don Markley, 310-691-7100
dmarkley@lhai.com
 
Press spacebar to pause and continue. Press esc to stop.