Ligand Pharmaceuticals has entered a global license agreement with CURx Pharmaceuticals for the development and commercialization of Ligand's Captisol-enabled Topiramate Injection for the treatment of partial onset or primary generalized tonic-clonic seizures in hospitalized epilepsy patients who are unable to take oral topiramate. Ligand will be eligible to receive more than $21 million in potential net milestone payments and net royalties on future sales of 6.0% to 7.5%.

This deal for pairs the formulation agent with an approved medicine to create a potentially novel, highly differentiated drug, said John Higgins, president and chief executive officer of Ligand. "CURx is highly motivated to advance development with current plans calling for a phase II trial to commence in 2014.”

Dinu Sen, chief executive officer and founder of CURx, said, "In phase I trials in healthy volunteers and patients at the University of Minnesota, the product demonstrated a faster onset of action than the orally administered drug. Our market research indicates there to be a tremendous need for a product with these characteristics."