Ligand completes acquisition of APEIRON Biologics for $100M cash plus up to $28M contingent

LIGAND PHARMACEUTICALS INC

Ligand acquired all outstanding shares of APEIRON for $100M in cash at closing on July 15, 2024.
Additional contingent consideration up to $28M if QARZIBA royalties exceed predetermined thresholds by 2030 or 2034.
QARZIBA (dinutuximab beta) is approved for high-risk neuroblastoma; Ligand obtains royalty rights.
Acquisition funded from Ligand's available cash on hand; closing subject to 30-day shareholder objection period.
Deal structured as a definitive agreement first announced on July 8, 2024.

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