WASHINGTON (dpa-AFX) - Ligand Pharmaceuticals Inc. (LGND) announced on
Monday that it has agreed to purchase Apeiron Biologics AG, a private
biopharmaceutical company located in Vienna, Austria for $100 million in cash.

This acquisition will grant Ligand the royalty rights to Apeiron's Qarziba, the
sole immunotherapy for high-risk neuroblastoma, available in 35 countries in
Europe and other global regions.

In addition to the initial amount, Ligand will compensate Apeiron shareholders
based on upcoming commercial and regulatory milestones, potentially reaching up
to $28 million if Qarziba royalties surpass specific thresholds by 2030 or 2034.

Simultaneously, Ligand will engage in a stock purchase agreement, committing to
invest up to $4 million in invIOs Holding AG, a privately owned spin-off of
Apeiron to support the research and development of three new early-stage
immuno-oncology assets, with Apeiron entitled to royalties and milestone
payments on these assets.

The transaction is anticipated to close in July 2024.



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