Ligand Pharmaceuticals Inc. is a biopharmaceutical company that develops, acquires, and out-licenses proprietary technologies to assist pharmaceutical and biotechnology firms in discovering and developing novel medicines. It operates through research services and royalty-generating businesses, focusing on a diversified portfolio of platforms that support therapeutic candidates across various disease areas. Key offerings include Captisol®, a chemically modified cyclodextrin that enhances the solubility, stability, and delivery of small-molecule drugs, and OmniAb™, an antibody discovery and optimization platform. Additional services encompass absorption, distribution, metabolism, and excretion (ADME) testing via subsidiaries Cyprotex and Absorption Systems, aiding early- and late-stage drug development. The company generates revenue from royalties on commercialized products, license and milestone payments, and sales of its Captisol material, partnering with leading global biopharmaceutical entities. Founded in 1987 and headquartered in San Diego, California, Ligand Pharmaceuticals Inc. plays a vital role in advancing drug innovation through technology licensing and collaborative research.