Ligand Pharmaceuticals Reports the Acquisition of APEIRON Biologics for $100M
Shots:
- Ligand has agreed to acquire APEIRON, along with its royalty rights to Qarziba for high-risk neuroblastoma. APEIRON gets an undisclosed royalty on Qarziba sales outside mainland China from Recordati & within mainland China from BeiGene
- The company will acquire APEIRON for $100M in cash with APEIRON shareholders receiving additional consideration for future commercial & regulatory milestones plus ~$28M if Qarziba royalties exceed specific target by either 2030 or 2034
- Ligand will also invest ~$4M in invIOs Holding (spin-off of APEIRON) to fund the development of early-stage immuno-oncology candidates, for which APEIRON will get royalties & milestones. The transaction is anticipated to conclude in Jul 2024
Ref: Ligand | Image: Ligand
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Disha is a content writer at PharmaShots. She is passionate and curious about recent updates and developments in MedTech and Pharma industry. She covers news related to clinical trial results and updates. She can be contacted at connect@pharmashots.com.
