Primary-source record
MaterialPartnership / licensing deal
Ligand Acquires Royalty Interest in Santen's Ryjunea (atropine) from Sydnexis
Ligand acquired a tiered royalty (low-double-digit to high-teens) plus milestones on Ryjunea net sales in EMEA from Sydnexis for $23M upfront. Ryjunea (0.01% atropine) is already approved by EC (June 2025) and UK MHRA (Oct 2025) to slow pediatric myopia progression. The transaction adds this commercial-stage ophthalmology asset to Ligand's royalty portfolio.
Key facts
- Filed
- Sep 22, 2026, 11:08 AM
- Event
- Partnership / licensing deal
- Direction
- Neutral
- Company
LGNDLigand- Asset
- atropine
- Source
- SEC 8-K
- Confidence
- Sourced
- royalty
- tiered low-double-digit to high-teens
- upfront payment
- $23 million
- patient population
- children aged 3-14 years with progression rate of 0.5 D or more per year and severity of -0.5 D to -6.0 D
Source excerpt
EX-99.1 2 lgnd_sydnexisreleasexfinal.htm EX-99.1 Document Exhibit 99.1 Ligand Acquires Royalty and Milestone Interest in Santen’s Ryjunea® from Sydnexis for $23 Million Ryjunea is the first and only pharmacologic treatment approved by the European Commission and UK MHRA to slow myopia progression in pediatric patients Ligand will receive a tiered low-double-digit to high-teens royalty on Ryjunea net sales in Europe, the Middle East, and Africa JUPITER, Fla., September 22, 2026 – Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) today announced it has acquired an ascending tiered royalty interest in Santen Pharmaceutical Co., Ltd. ’s (“Santen”) Ryjunea® from Sydnexis, Inc. (“Sydnexis”) for a $23 million upfront payment. Ryjunea is a once-nightly, low-dose atropine eye drop designed to slow progression of myopia (commonly known as nearsightedness) in pediatric patients. Treatment may be indicated in children aged 3-14 years with a progression rate of 0.5 D or more per year and a severity of -0.5 D to -6.0 D. The product uses a standardized 0.01% formulation of atropine with deuterated water designed to improve efficacy, comfort, and stability in the pediatric population. Santen licensed rights to Ryjunea in Europe, the Middle East, and Africa (“EMEA”) from Sydnexis in 2021. Ryjunea was approved by the European Commission in June 2025 and the UK Medicines and Healthcare products Regulatory Agency (“MHRA”) in October 2025. “Ryjunea represents the type of differentiated a