Ligand to acquire Apeiron Biologics
Florida, USA-based Ligand Pharmaceuticals (Nasdaq: LGND) today announced that it has entered into a definitive agreement to acquire privately-held Austrian company Aperion Biologics.
Ligand says it made $100 million offer in cash for the company, which holds royalty rights to Qarziba (dinutuximab beta) for the treatment of high-risk neuroblastoma. In addition, Ligand will pay Apeiron events, including up to $28 million if Qarziba royalties exceed certain predetermined thresholds by either 2030 or 2034, respectively.
Apeiron 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 currently commercially available in more than 35 countries. Apeiron receives an undisclosed royalty on net sales of Qarziba outside of mainland China from Italy’s Recordati, and sales of more than $2.2 billion, and on net sales of Qarziba within mainland China from BeiGene.
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