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Source: Pharmaceutical Technology
QARZIBA is indicated to treat high-risk neuroblastoma in patients aged 12 months and above. Credit: Kateryna Kon/Shutterstock.
Ligand Pharmaceuticals has announced a definitive agreement for the acquisition of the complete outstanding shares of Austria-based biopharmaceutical company APEIRON Biologics in a $100m cash deal.
The deal also includes future payments based on commercial and regulatory milestones.
It is indicated for those who have responded to induction chemotherapy, undergone myeloablative therapy and stem cell transplantation, and with a history of relapsed or refractory neuroblastoma with or without residual disease.
The company receives royalties on the product’s net sales outside mainland China from Recordati and within mainland China from BeiGene.
Ligand will make further payments based on commercial and regulatory milestones, with potential payments up to $28m by either 2030 or 2034 on QARZIBA royalties exceeding preset thresholds.
The agreement received unanimous approval from the board of directors of Ligand and the supervisory board of APEIRON.
This funding will support the research and development of three early-stage immuno-oncology assets.
Ligand CEO Todd Davis stated: “The addition of QARZIBA to our commercial royalty portfolio further supports our growth strategy to invest in high-value medicines that deliver significant clinical value and generate predictable and long-term revenue streams for our investors.
“QARZIBA is the only immunotherapy for high-risk neuroblastoma marketed across Europe and in other parts of the world. We believe this drug will be a meaningful contributor to our royalty revenue, which is now driven by a diversified portfolio of 12 key commercial-stage products.”
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