RODES Inc. and Ligand Pharmaceuticals Incorporated have signed a exclusive global license and supply agreements for three Captisol-enabled, or CE, programs. Under the terms of the agreements, for each program Ligand will be eligible to receive development and commercial milestone payments, revenue from the sales of Captisol, and royalties of 8% to 11% on future net sales. RODES will be responsible for all costs related to the development and commercialization of the programs. The three programs are: IM/IV CE Meloxicam for patients with acute pain, potentially delaying the use of opioids with associated risk of addiction; IM/IV CE Fosphenytoin to benefit patients with seizures, expanding the market to room-temperature access in all settings; and IN CE Budesonide + Azelastine fixed-dose combination to improve convenience and outcomes for patients with allergic rhinitis.