Orchestra BioMed Receives $15 Million Investment from Ligand
Orchestra BioMed has secured a $15 million investment from Ligand Pharmaceuticals under a strategic financing agreement, aimed at supporting its late-stage cardiovascular programs, AVIM Therapy and Virtue SAB. This funding complements a previously received $20 million and reflects the companies’ partnership in advancing medical device innovations to address significant patient needs.
NEW HOPE, Pa., May 06, 2026 (GLOBE NEWSWIRE) — Orchestra BioMed Holdings, Inc. (Nasdaq: OBIO) (“Orchestra BioMed” or the “Company”), a biomedical company accelerating high-impact technologies to patients through strategic partnerships with market-leading global medical device companies, today announced the receipt of a $15 million payment from Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) pursuant to the previously disclosed Revenue Participation Right Purchase and Sale Agreement (the “Royalty Purchase Agreement”). The payment completes a scheduled tranche under the agreement and reflects Ligand’s continued strategic capital support of Orchestra BioMed’s late-stage cardiovascular programs, AVIM Therapy and Virtue SAB, which are both being evaluated in ongoing randomized, controlled pivotal trials.