Channel Therapeutics completed acquisition of Pelthos Therapeutics a subsidiary compny of Ligand, for a total of $50m..

Channel Therapeutics, a clinical-stage biotechnology company, agreed to merge with biopharmaceutical company Ligand’s Pelthos, a biopharmaceutical company committed to commercializing innovative, safe, and efficacious therapeutic products to help patients with unmet treatment burdens, in $50m deal. “This transaction presents a compelling opportunity to launch a commercial-ready product, with significant financial backing from Murchinson, that has the potential to deliver both near and long-term value to our shareholders. We executed a complex restructuring to acquire the Pelthos assets, incubated the technology that became ZELSUVMI, achieved FDA approval for this first-in-class medication, and assembled a world-class team, to bring this therapy to market,"Todd Davis, Ligand CEO.