Ligand Pharmaceuticals Incorporated announced on September 22, 2026, that it has acquired an interest in Santen Pharmaceutical Co., Ltd.’s Ryjunea from Sydnexis, Inc. The company paid an upfront payment of $23 million to acquire a 100% interest in certain payments and related rights under Sydnexis’s existing license agreement with Santen.
Ryjunea is a once-nightly, low-dose atropine eye drop designed to slow the progression of myopia, or nearsightedness, in pediatric patients. The treatment is indicated for children aged 3 to 14 years with a progression rate of 0.5 D or more per year and a severity of -0.5 D to -6.0 D. The product uses a standardized 0.01% formulation of atropine with deuterated water.
Santen licensed the rights to Ryjunea in Europe, the Middle East, and Africa from Sydnexis in 2021. Ryjunea was approved by the European Commission in June 2025 and the UK Medicines and Healthcare products Regulatory Agency in October 2025. Under the terms of the agreement, Ligand will receive a tiered royalty on Ryjunea net sales in EMEA, ranging from low-double-digit percentages to high-teens percentages. The company will also receive certain milestone payments.
Sydnexis retains commercial rights to Ryjunea in the United States and all other non-Santen licensed territories. In Europe, approximately 1 in 3 children and adolescents are projected to be affected by myopia by 2050, and Santen estimates 14 million patients were affected in 2025.
Todd Davis, CEO of Ligand, stated that Ryjunea represents a differentiated asset that addresses a significant market need. McDermott Will & Schulte LLP and Cooley LLP served as legal advisors to Ligand.
