Ligand Pharmaceuticals
Venture debtJupiter · Late Stage · 15 people tracked
Investment thesis
Ligand operates as a royalty aggregator, partnering with biopharmaceutical companies to provide strategic capital that finances and advances late-stage clinical development programs. It manages one of the largest and most diverse portfolios of biopharmaceutical royalties in the industry, spanning more than 200 commercial, clinical, and preclinical-stage programs across multiple therapeutic areas, development stages, modalities, and partners. This diversified approach creates exposure to innovative medicines while generating royalty streams from marketed products.
Source: firm website, verified Aug 2, 2026.
Team · 15 people
from the firm's websiteCEO of Ligand and board member since 2007, with over 30 years of operational and investment experience across more than $4 billion in healthcare financings. He co-founded HealthCare Royalty Partners and previously led biopharmaceutical growth equity investments at Apax Partners.
SVP of Investments and Head of Clinical Strategy with over 20 years in senior pharma roles including Pfizer. She was President and CMO of AZTherapies and held global R&D and medical leadership roles at Pfizer and Astellas.
SVP of Investments and Business Development, focused on deal sourcing and structuring. He spent more than 15 years at HealthCare Royalty Partners covering US and European business development.
SVP of Investment Operations and Investment Committee member, with decades of healthcare commercialization and investment experience. He co-founded the healthcare group of Fortress's Drawbridge fund and co-led the healthcare team at Hayfin Capital Management.
VP of Portfolio Strategy and Investments with nearly two decades in life sciences investment and strategy. She founded Hay Advisory Corporation and previously led investment analysis at DRI Capital, a pharmaceutical royalty monetization firm.
VP of Investments and Business Development, previously Global Team Leader for Healthcare at Third Bridge Group. He founded and served as CIO of Reef Knot Capital and held portfolio roles at Visium, Highland Capital, and Merrill Lynch.
VP of Investments and Business Development with over a decade in life sciences investing and advisory. He was previously a Senior Principal at Gurnet Point Capital and worked in investment banking at MTS Health Partners.
VP of Investments and Business Development who spent six years at Blackstone Life Sciences, most recently as Principal leading investments from $100M to over $1B. He previously worked in biopharma M&A at Lazard and in corporate strategy at Moderna and Flagship Pioneering.
Senior Director of Investments and Business Development with extensive experience in commercialization and partnering across therapeutics, diagnostics, and life sciences tools. He previously led technology transfer at LA BioMed, USC, and the UC system, and worked at General Inception.
Ligand's Chief Legal Officer since 2022, previously a VP and Special Counsel at the company. He spent over a decade as CLO of HealthCare Royalty Partners and earlier practiced corporate law at Willkie Farr & Gallagher.
VP of New Product Development focused on applications and IP for the Captisol cyclodextrin drug-delivery technology, joining Ligand via the 2011 CyDex acquisition. He previously directed CMC services at Oread Laboratories and was a research fellow at Merck.
SVP of Biology and Scientific Affairs who joined Ligand in 1994 and led several key discovery and development programs. He now leads clinical and scientific due diligence on the company's royalty and project-finance investments.
Head of People Operations at Ligand since June 2024, leading the company's people strategy. She previously held senior HR leadership roles at BioLineRx, Clarion Healthcare, Oncopeptides, and EMD.
Ligand's CFO, having risen from Senior Director of Accounting and SVP of Finance. He previously held finance and accounting leadership roles at Receptos, Illumina, Intuit, and PricewaterhouseCoopers, and is a California CPA.
SVP of Technical Operations and Quality Assurance overseeing the Captisol technology business, having joined via Ligand's 2011 acquisition of CyDex Pharmaceuticals. He has extensive experience in pharmaceutical manufacturing and Captisol-related patents.
Frequently asked questions
- What stage does Ligand Pharmaceuticals invest at?
- Ligand Pharmaceuticals invests at the Late Stage stage.
- What is Ligand Pharmaceuticals's typical check size?
- Ligand Pharmaceuticals typically writes checks of $10M – $50M.
- What sectors does Ligand Pharmaceuticals focus on?
- Ligand Pharmaceuticals focuses on Biotech.
- Where is Ligand Pharmaceuticals located?
- Ligand Pharmaceuticals is headquartered in Jupiter, US.
Media · Podcasts & interviews
featuring the teamLigand Pharmaceuticals CEO Todd Davis Explores Catalysts to Drive Biotech Performance - YouTube
Unboxing Biotech · Todd Davis
Images
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