Ligand Buys Crystal Bioscience For $25M

San Diego-based Ligand Pharmaceuticals announced late Wednesday that it has agreed to acquire Crystal Bioscience, a developer of chicken-derived, human antibodies. Ligand said it agreed to pay $25M in cash plus additional potential payments of up to $10.5M based on "success-based" milestones and revenue sharing. Crystal has developed technology which allows chickens to be used to generate human antibodies. Crystal bills its antibody technology "OmniChicken".