Kymera’s stock rises after derma investigation expands; Ligand buys Apeiron

Plus, news about AEON Biopharma, Moderna and Mitsubishi Tanabe:

Sanofi expands dermatology trials: Kymera Therapeutics said that expanding the Phase 2 hidradenitis suppurativa and atopic dermatitis studies will “more rapidly progress” the candidate, dubbed KT-474, into pivotal studies. Sanofi and Kymera are collaborating on the development of the IRAK4 degrader. Kymera’s stock $KYMR jumped up nearly 20% following the announcement. — Katherine Lewin

Ligand Pharmaceuticals to acquire Apeiron and royalty rights to neuroblastoma drug: The $100 million deal also includes up to $28 million to Apeiron shareholders if the nuero drug, called Qarziba, brings in royalties that exceed predetermined thresholds over the next decade. Ligand CEO Todd Davis wrote in a statement that he believes Qarziba “will be a meaningful contributor to our royalty revenue, which is now driven…
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