  We study the pair-production of heavy mesons in proton-antiproton
annihilations within a perturbative QCD-motivated framework. In particular we
investigate $p \bar{p} \rightarrow \overline{D^0} D^0$ within a double handbag
approach, where a hard subprocess factorizes from soft hadronic matrix
elements. The soft matrix elements can be parametrized by transition
distribution amplitudes, which are off-diagonal in flavor space. The transition
distribution amplitudes are modelled as overlaps of light-cone wave functions.
We obtain rather robust model results for $p \bar{p} \rightarrow \overline{D^0}
D^0$ cross sections, which are expected to be measured at the future
$\bar{\text{P}}\text{ANDA}$ detector at GSI-FAIR.
