Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) has announced a definitive agreement to acquire APEIRON Biologics AG for $100 million in cash. APEIRON holds royalty rights to QARZIBA® (dinutuximab beta), a treatment for high-risk neuroblastoma. In addition to the initial payment, Ligand will pay APEIRON shareholders up to $28 million based on future commercial and regulatory milestones if QARZIBA royalties exceed certain thresholds by 2030 or 2034.
APEIRON, a private biopharmaceutical company based in Vienna, Austria, co-developed QARZIBA for treating high-risk neuroblastoma in patients aged 12 months and above. Approved by the European Medicines Agency in 2017, QARZIBA is now available in over 35 countries. APEIRON receives royalties on QARZIBA sales outside mainland China from Recordati S.p.A and on sales within mainland China from BeiGene, Ltd.
Todd Davis, CEO of Ligand, said, “Adding QARZIBA to our commercial royalty portfolio supports our growth strategy to invest in high-value medicines that deliver significant clinical value and generate predictable long-term revenue streams for our investors. QARZIBA, the only immunotherapy for high-risk neuroblastoma marketed across Europe and other parts of the world, will be a meaningful contributor to our royalty revenue.”
Peter Llewellyn-Davies, CEO of APEIRON, commented, “This transaction is a significant milestone for our company and shareholders. We have spent over 20 years translating academic research into therapeutic products for diseases with high unmet needs. Bringing QARZIBA to young patients has been an honor for our team. We appreciate Ligand recognizing the long-term potential of this critical drug for rare pediatric cancer.”
