Ligand/Glycomed stock swap merger creates $100 mil. in combined cash.
LIGAND MERGER WITH GLYCOMED TRIPLES LIGAND CASH POSITION and combines strengths in the cancer and anti-inflammatory drug product areas, the companies announced Feb. 7. Alameda, Calif.-based Glycomed, which will become a wholly-owned subsidiary of San Diego-based Ligand, had $63.5 mil. in its coffers as of Dec. 31. The combined company will have approximately $100 mil. in cash, enough to fund four years of operations, Ligand said.
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