Madison biopharmaceutical company Dianomi Therapeutics has raised $3 million in funding following a partnership with publicly traded drug company Ligand Pharmaceuticals.

Dianomi announced Tuesday that Ligand invested $3 million in the startup in exchange for a royalty of two or three percent based on net sales for Dianomi’s first five products developed using its technology. Ligand will also provide technical and scientific advisory assistance to Dianomi for one year.

Read the full article at American Inno