Key Highlights
- Ligand Pharmaceuticals to acquire APEIRON Biologics AG for $100 million in cash.
- QARZIBA® (dinutuximab beta), an immunotherapy for high-risk neuroblastoma, added to Ligand’s portfolio.
- Potential additional consideration up to $28 million based on QARZIBA royalties.
- Acquisition expected to close in July 2024, subject to customary conditions.
- Financial guidance update: 2024 revenue forecast increased to $140-$157 million.
Source: Business Wire
Notable Quotes
- “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.” — Todd Davis, CEO at Ligand Pharmaceuticals
- “This transaction is an important milestone for our company and shareholders. We have spent more than 20 years translating academic research into therapeutic products for diseases with high unmet needs.” — Peter Llewellyn-Davies, CEO at APEIRON
SoHC's Take
The acquisition of APEIRON Biologics by Ligand Pharmaceuticals is a strategic move that underscores Ligand’s commitment to enhancing its royalty portfolio with high-value, clinically significant therapies. QARZIBA®’s addition is particularly notable as it represents a unique immunotherapy for high-risk neuroblastoma, offering significant potential revenue streams and solidifying Ligand’s position in the biopharmaceutical market. This transaction not only reflects Ligand’s growth strategy but also highlights its ability to identify and integrate promising therapeutic assets, ensuring long-term value for its investors. The financial guidance update post-acquisition indicates a robust outlook, further affirming the positive impact of this acquisition on Ligand’s overall financial health and market position.
