Introduction:
Ligand Pharmaceuticals Inc. is set to acquire Apeiron Biologics for US$100 million. As part of the acquisition, Ligand Pharmaceuticals has also committed to invest up to US$4 million in invIOs Holding AG, Apeiron Biologics’ immuno-oncology spin-out. The acquisition is expected to close in July 2024.
- Apeiron Biologics is being acquired by Ligand Pharmaceuticals Inc. for US$100 million. The acquisition is expected to close in July 2024.
- Ligand Pharmaceuticals has committed to invest up to US$4 million in invIOs Holding AG, Apeiron Biologics’ immuno-oncology spin-out.
- Apeiron shareholders will be entitled to additional consideration based on future commercial and regulatory events, and up to US$28 million if dinutuximab beta (Qarziba) royalties exceed certain thresholds by either 2030 or 2034.
- The monoclonal antibody dinutuximab beta is used as a second-line treatment for children with high-risk neuroblastoma, and Apeiron Biologics received EMA marketing authorization for APN311 (dinutuximab beta) in 2017.
- The acquisition is seen as a positive signal for the Austrian biotechnology industry and highlights the potential of Austria’s research-driven biotechnology companies.
Conclusion:
Ligand Pharmaceuticals Inc. is acquiring Apeiron Biologics for US$100 million and has committed to investing in its immuno-oncology spin-out, invIOs Holding AG. This acquisition will provide Ligand Pharmaceuticals with the opportunity to gain royalties and milestone payments from Apeiron Biologics’ assets, including the monoclonal antibody dinutuximab beta. The acquisition also highlights the potential of Austria’s research-driven biotechnology companies and is a positive signal for the Austrian biotechnology industry.
