Ligan Pharmaceuticals has announced an agreement to acquire biotechnology royalty investment firm Zoma Royalty Company for approximately $740 million. The acquisition will enable Ligan to share profits from over 120 drugs.

Upon completion of the deal, Ligan's product pipeline will expand to include more than 200 commercial and experimental therapies. According to the terms of the agreement, Ligan will pay $39 per share in cash for Zoma's stock, representing a 2.9% premium over its closing price of $37.90 last Friday. The transaction is expected to be finalized in the third quarter of this year.

Both Ligan and Zoma are well-known in the industry as royalty consolidation companies, specializing in investing in drugs during the research and development phase and collecting ongoing royalties if the drugs are successfully commercialized.

Following the acquisition, Ligan's overall product portfolio will more than double, encompassing over 200 marketed drugs and therapies in development, including several commercialized products and late-stage clinical candidates.

Todd Davis, CEO of Ligan Pharmaceuticals, stated, "Our royalty asset portfolio is growing rapidly, and there remains significant untapped potential value in our pipeline of development-stage products."

Ligan has raised its revenue forecast for 2026, revising it upward from a previous range of $245–285 million to $270–310 million.

Zoma, headquartered in Emeryville, California, holds rights to seven approved drugs, including Roche's ophthalmic drug faricimab and Day One Biopharmaceuticals' brain cancer treatment ojemda.

Ligan Pharmaceuticals, based in Jupiter, Florida, holds interests in products such as the kidney disease drug filspari and Merck’s vaccine capvaxive.

In pre-market trading, shares of Ligan Pharmaceuticals rose by 3.9%.