Ligand Pharmaceuticals Announces Launch of Pelthos Therapeutics to Accelerate Commercialization of ZELSUVMI™
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The recent announcement of Scott Plesha's appointment as CEO of Pelthos Therapeutics and the upcoming commercial availability of ZELSUVMI represents a strategic move for Ligand Pharmaceuticals. Plesha's substantial experience in the industry, especially his track record at BioDelivery Sciences, indicates a potential for robust commercial strategy and execution for Pelthos. His previous success in scaling sales significantly at BDSI bodes well for the commercial prospects of ZELSUVMI, a novel drug for molluscum contagiosum.
The Novel Drug designation by the FDA for ZELSUVMI underscores its unique status in the market and potential to address unmet medical needs. The ability for at-home application may offer a competitive advantage in terms of convenience and accessibility, potentially increasing adoption rates. Ligand's strategy to partner with capital providers or strategic partners for commercialization aligns with its history of creating value through such collaborations. This could lead to a positive impact on Ligand's revenue streams, given the equity and royalty rights structure typically involved in these arrangements.
ZELSUVMI's entry into the market, leveraging the proprietary NITRICIL technology, represents a notable advancement in the treatment of molluscum contagiosum. The drug's ability to be applied at home is not just a matter of convenience; it reflects a shift towards patient-centric care models that aim to reduce healthcare system burdens and improve patient compliance. This is particularly relevant for a contagious condition like molluscum, where reducing the need for in-person clinical visits can also mitigate the risk of transmission.
As a topical gel, ZELSUVMI may also offer a favorable safety profile compared to systemic treatments, which is a critical factor in gaining acceptance among both clinicians and patients. The anticipation of commercial availability in late 2024 provides a timeline for market entry that allows investors to gauge the potential impact on Ligand's financial performance in the medium term. However, the success of the launch will depend on effective marketing, sales execution and the management of manufacturing and supply chain processes.
The market for treatments of viral skin infections such as molluscum contagiosum is relatively niche but underserved. The introduction of ZELSUVMI, particularly with its Novel Drug designation, is likely to capture attention within this segment. Market dynamics suggest that first-mover advantage can be significant, especially for conditions with limited treatment options.
However, the actual market penetration will depend on factors such as pricing strategy, insurance coverage and the effectiveness of the go-to-market strategy. Given the historical performance of Ligand's strategic partnerships, there is cautious optimism about the potential market impact. It will be important to monitor the development of these partnerships and the structure of any deals, as they will be key determinants of the financial upside for Ligand and its stakeholders.
Pharmaceutical executive Scott Plesha named CEO
Lead product ZELSUVMI expected to be commercially available in late 2024
Scott Plesha, CEO, Pelthos Therapeutics (Photo: Business Wire)
Pelthos is committed to commercializing innovative, safe, and efficacious therapeutic products to help patients impacted by diseases with limited treatment options. The company’s lead product is ZELSUVMI™ (berdazimer) topical gel,
Ligand acquired the rights to ZELSUVMI and all the assets related to the NITRICIL technology platform from Novan, Inc. in September 2023.
“ZELSUVMI is a highly differentiated product that we believe will bring significant improvements to the lives of patients living with tremendous unmet needs,” said Todd Davis, CEO of Ligand. “We are excited for the launch of Pelthos, the commercialization of ZELSUVMI, and the advancement of the company under Scott’s leadership.”
Mr. Plesha brings to his role more than 30 years of experience in the pharmaceutical industry, including two decades building and leading specialty pharmaceutical commercial organizations. Prior to joining Pelthos, Mr. Plesha was President and Chief Commercial Officer at BioDelivery Sciences (BDSI) until it was acquired by Collegium Pharmaceutical in 2022. Under Mr. Plesha’s leadership, BDSI sales grew from
“I am excited to assume the leadership of Pelthos as we prepare to offer the first at-home therapy for the many patients who are completely untreated today or who need a more suitable option,” said Scott Plesha. “This is a company that has several meaningful milestones on the horizon and a team that is ready to execute to meet the needs of patients.”
Ligand intends to commercialize ZELSUVMI in partnership with a capital provider and/or strategic partner. This is consistent with Ligand’s strategy to reposition and maximize the value of highly differentiated and promising pharmaceutical assets by combining premier management teams and outside funding sources in return for significant equity and royalty rights in the newly formed entities. To date, Ligand has created three companies utilizing this strategy: Viking Therapeutics, Primrose Bio, and OmniAb®.
Pelthos is a wholly owned subsidiary of Ligand.
About ZELSUVMI™ (berdazimer) topical gel,
ZELSUVMI (berdazimer) topical gel,
About Ligand Pharmaceuticals
Ligand is a biopharmaceutical company enabling scientific advancement through supporting the clinical development of high-value medicines. Ligand does this by providing financing, licensing our technologies or both. Our business model seeks to generate value for stockholders by creating a diversified portfolio of biotech and pharmaceutical product revenue streams that are supported by an efficient and low corporate cost structure. Our goal is to offer investors an opportunity to participate in the promise of the biotech industry in a profitable and diversified manner. Our business model is based on funding programs in mid- to late-stage drug development in return for economic rights and licensing our technology to help partners discover and develop medicines. We partner with other pharmaceutical companies to attempt to leverage what they do best (late-stage development, regulatory management and commercialization) in order to generate our revenue. Our Captisol® platform technology is a chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. We have established multiple alliances, licenses and other business relationships with the world’s leading pharmaceutical companies including Amgen, Merck, Pfizer, Jazz, Takeda, Gilead Sciences and Baxter International. For more information, please visit www.ligand.com. Follow Ligand on X @Ligand_LGND.
We use our investor relations website and X as a means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. Investors should monitor our website and our X account, in addition to following our press releases, SEC filings, public conference calls and webcasts.
About Pelthos Therapeutics
Pelthos Therapeutics is a biopharmaceutical company committed to commercializing innovative, safe, and efficacious therapeutic products to help patients with unmet treatment burdens. Our lead product ZELSUVMI™ (berdazimer) topical gel,
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. Words such as “plans,” “believes,” “expects,” “anticipates,” and “will,” and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include: the timing of commercial launch of ZELSUVMI; the potential that ZELSUVMI could avoid surgical removal or more intensive therapies in some patients; and the possibility that Ligand’s strategy to maximize value through the creation of Pelthos Therapeutics will be successful. Actual events or results may differ from Ligand's expectations due to risks and uncertainties inherent in Ligand’s business, including, without limitation: the risk that Ligand and Pelthos may not commercially launch ZELSUVMI in late 2024 or at all; Ligand and Pelthos may not be able to successfully commercialize ZELSUVMI which will depend on a number of factors including coverage and reimbursement levels from governmental authorities and health insurers as well as market acceptance by healthcare providers; the market size for ZELSUVMI may be smaller than estimated; Ligand’s dependence on third parties in connection with product manufacturing and distribution of ZELSUVMI; Ligand may not be able to protect its intellectual property and patents covering ZELSUVMI which may be challenged or invalidated; and other risks described in Ligand’s prior press releases and filings with the Securities and Exchange Commission available 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.
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1 ZELSUVMI Package Insert. LNHC Inc. 2023.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240403857451/en/
Investors:
Michael Jeong
investors@ligand.com
(561) 214-4232
LifeSci Advisors
Bob Yedid
bob@lifesciadvisors.com
(516) 428-8577
Media:
Kellie Walsh
media@ligand.com
(914) 315-6072
Source: Ligand Pharmaceuticals Incorporated
FAQ
What is the name of the CEO appointed by Ligand Pharmaceuticals for Pelthos Therapeutics?
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