San Diego drugmaker Ligand Pharmaceuticals is acquiring Emeryville-based Crystal Bioscience in a deal worth up to $35.5 million.
Crystal’s research around generating human antibodies will complement Ligand’s existing technology, the companies said. The deal also brings Crystal’s big pharma partnerships to Ligand, including agreements with Boehringer Ingelheim, Alexo Therapeutics, and Achaogen.
Crystal’s co-founder geneticist Rob Etches is joining Ligand as vice president of antibody technologies.
As part of the deal, Ligand will pay Crystal shareholders $25 million in cash at closing, and up to $10.5 million in additional payments on the completion of certain milestones. The deal is expected to bring an extra $5 million in revenue for Ligand during 2018.