• Vienna, Austria, 8 July 2024: APEIRON Biologics AG (“APEIRON”), a leading Austrian biotech company, today announced that its shareholders have entered into a definitive agreement to sell their APEIRON shares to US-based Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) for USD 100 million. APEIRON shareholders are also entitled to additional consideration based on future commercial and regulatory events and to up to USD 28 million if QARZIBA® royalties exceed certain predetermined thresholds by either 2030 or 2034 respectively. The agreement has been approved by the Supervisory Board of APEIRON and the Board of Directors at Ligand. The transaction is subject to a 30-day shareholder objection period and other customary closing conditions and is expected to close in July 2024.
• Concurrently, Ligand has also committed to investing up to USD 4 million in invIOs Holding AG (“invIOs”), a spin-off of APEIRON. The proceeds will help invIOs to finance the research and development of three innovative early-stage immuno-oncology assets. APEIRON is entitled to royalties and milestone payments on these assets. This transaction is also expected to close in July 202

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