Ligand Pharmaceuticals (NASDAQ:LGND) has announced a definitive agreement to acquire APEIRON Biologics for $100 million.

The acquisition includes the royalty rights to QARZIBA®, an immunotherapy for high-risk neuroblastoma.

This transaction, subject to a 30-day shareholder objection period, is expected to close in July 2024 and will immediately add $1 to Ligand’s earnings per share on an annualized basis.