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Ligand Makes Second Big Oncology Investment In 2024 With Apeiron Buyout

 
• By Alaric DeArment

The company is acquiring rights to royalties from Qarziba, a neuroblastoma drug approved in ex-US markets that Recordati develops and markets in all of them except mainland China.

• Source: Shutterstock

Ligand Pharmaceuticals, Inc. has made its second major oncology investment in two months with the acquisition of Apeiron Biologics AG and the Austrian biotech’s royalty rights for Qarziba (dinutuximab beta) for high-risk neuroblastoma.

Jupiter, FL-based Ligand announced the deal to acquire Vienna-based Apeiron for $100m on 8 July. Apeiron receives royalties on sales of Qarziba in more than 35 countries, while Italian drug maker Recordati SpA markets the drug, having codeveloped and licensed it to EUSA Pharma (UK) Ltd., which Recordati acquired in December 2021. (Also see "Recordati Expands Into Rare Cancer Space With EUSA Pharma Buy" - Scrip, 3 December, 2021

Key Takeaways

  • Ligand spent $100m to acquire Austria-based Apeiron, which receives royalties from Recordati and BeiGene for Qarziba, a drug for neuroblastoma.

  • The deal marks the second major oncology transaction of the year for Ligand, after the May investment of $75m in Agenus royalties

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