Ligand Pharmaceuticals to Acquire Apeiron Biologics

100 Million Dollar Deal Ligand Pharmaceuticals to Acquire Apeiron Biologics

2024-07-12 Source: Press release Ligand Pharmaceuticals 2 min Reading Time

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Ligand Pharmaceuticals has plans to takeover Apeiron Biologics for 100 million dollars in cash. Apeiron Biologics is a firm that holds royalty rights to Qarziba (dinutuximab beta) for the treatment of high-risk neuroblastoma.

Ligand Pharmaceuticals has entered into a definitive agreement to acquire Apeiron Biologics for 100 million dollars in cash. (Source: Pixabay) — Ligand Pharmaceuticals has entered into a definitive agreement to acquire Apeiron Biologics for 100 million dollars in cash.
(Source: Pixabay)

Florida/USA – Ligand Pharmaceuticals has entered into a definitive agreement to acquire Apeiron Biologics, which holds royalty rights to Qarziba (dinutuximab beta) for the treatment of high-risk neuroblastoma, for 100 million dollars in cash. In addition, Ligand will pay Apeiron shareholders additional consideration based on future commercial and regulatory events, including up to 28 million dollars if Qarziba royalties exceed certain predetermined thresholds by either 2030 or 2034, respectively.

Apeiron is a private biopharmaceutical company based in Vienna, Austria. The company co-developed Qarziba for the treatment of high-risk neuroblastoma in patients aged 12 months and above. Qarziba was approved by the European Medicines Agency in 2017 and is commercially available today in more than 35 countries. Apeiron receives an undisclosed royalty on net sales of Qarziba outside of mainland China from Recordati, a leading global pharmaceutical company with a presence in over 150 countries and sales of more than 2.2 billion dollars, and on net sales of Qarziba within mainland China from Beigene.

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“The addition of Qarziba to our commercial royalty portfolio further supports our growth strategy to invest in high-value medicines that deliver significant clinical value and generate predictable and long-term revenue streams for our investors,” said Todd Davis, CEO of Ligand. “Qarziba is the only immunotherapy for high-risk neuroblastoma marketed across Europe and in other parts of the world. We believe this drug will be a meaningful contributor to our royalty revenue, which is now driven by a diversified portfolio of 12 key commercial-stage products.”

Peter Llewellyn-Davies, CEO of Apeiron commented, “This transaction is an important milestone for our company and shareholders. We have spent more than 20 years translating academic research into therapeutic products for diseases with high unmet needs. Our team was honored to help bring Qarziba to the young patients who need it. We appreciate that Ligand recognizes the long-term potential of this critical drug for a rare pediatric cancer.”

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