Ligand Pharma to acquire Apeiron Biologics

As part of the US100m acquisition, Ligand Pharmaceuticals Inc  has committed to invest up to US$4m in invIOs Holding AG, Apeiron Biologics AG’s immuno-oncology spin-out. Apeiron shareholders are entitled to additional consideration based on future commercial and regulatory events and to up to US$28m if dinutuximab beta (Qarziba^TM) royalties exceed certain predetermined thresholds by either 2030 or 2034 respectively. The monoclonal antibody that specifically homes in at the carbohydrate moiety of disialoganglioside 2 (GD2), which is overexpressed on neuroblastoma cells is used as a second-line treatment for children with high-risk neuroblastoma The acquisition is expected to close in July 2024. The invIOs proceeds will help the company to finance R&D of three early-stage immuno-oncology programmes. Apeiron is entitled to royalties and milestone payments on these assets. This transaction is also expected to close in July 2024.

Apeiron Biologics received EMA marketing autorisation for APN311 (dinutuximab beta  in 2017 for the treatment of high-risk neuroblastoma in infants aged twelve months and above.
Peter Llewellyn-Davies, CEO of Apeiron Biologics and co-founder of the Austrian Biotech Association, said: “This is a historic moment for Apeiron and its shareholders. We are excited that Ligand has recognized  the long-term potential of Qarziba. The sale of Apeiron  is an encouraging signal for the entire Austrian biotechnology industry, it underlines the great potential of Austria’s research-driven biotechnology companies.”