APEIRON Biologics to be Acquired by Ligand Pharmaceuticals for USD 100 Million

APEIRON Biologics AG, a prominent Austrian biotech company, announced that its shareholders have entered a definitive agreement to sell their shares to Ligand Pharmaceuticals Incorporated for USD 100 million. Additionally, shareholders may receive up to USD 28 million if QARZIBA® royalties surpass specific thresholds by 2034. The transaction, approved by both companies' boards, is subject to a 30-day shareholder objection period and other closing conditions, expected to conclude in July 2024.

Ligand Pharmaceuticals will also invest up to USD 4 million in invIOs Holding AG, an APEIRON spin-off. This investment aims to fund the research and development of three early-stage immuno-oncology assets. APEIRON will receive royalties and milestone payments from these assets. This transaction is also projected to close in July 2024.

Peter Llewellyn-Davies, CEO of APEIRON, celebrated the acquisition, recognizing it as a testament to the company's innovative work and the potential of the Austrian biotechnology sector. Manfred Reichl, Chairman of APEIRON's Supervisory Board, echoed this sentiment, acknowledging the team's dedication and the strategic significance of the sale.

Ligand Pharmaceuticals' CEO Todd Davis expressed satisfaction with the deal, citing APEIRON's achievements in immuno-oncology and rare diseases. He emphasized that QARZIBA®, an immunotherapy for high-risk neuroblastoma, would significantly contribute to Ligand's commercial portfolio.