XOMA Receives $5.5 Million Payment from Rezolute
13 Fevereiro 2019 - 10:00AM
XOMA Corporation (NASDAQ: XOMA) announced today it has received a
$5.5 million payment from Rezolute, Inc., related to the Companies’
2017 license agreement, as most recently amended on January 7,
2019.
“Our business model is fundamentally designed to generate
significant long-term royalty-based revenue as the underlying
assets are commercialized. Moreover, many of our license
agreements include the potential for XOMA to receive significant
milestone payments as the licensed assets progress. The
receipt of this milestone payment is a good example of XOMA further
strengthening its balance sheet with additional non-dilutive
capital. This capital can be deployed to further expand our
portfolio of assets from which we have the potential to earn future
milestone payments and royalties,” commented Jim Neal, Chief
Executive Officer at XOMA.
In 2017, Rezolute, Inc., formerly known as AntriaBio, Inc.,
acquired an exclusive global license to develop and commercialize
XOMA 358 (now RZ358) for all indications. Under the January
2019 amendment, Rezolute agreed to pay XOMA an additional $8.5
million in a series of quarterly payments beginning later this
year.
About XOMA CorporationXOMA has built a
significant portfolio of products that are licensed to and being
developed by other biotechnology and pharmaceutical companies.
The Company’s portfolio of partner-funded programs spans
multiple stages of the drug development process and across various
therapeutic areas. Many of these licenses are the result of
XOMA’s pioneering efforts in the discovery and development of
antibody therapeutics. The Company’s royalty-aggregator
business model includes acquiring additional licenses to
partner-funded programs. For more information, visit
www.xoma.com.
Forward-Looking StatementsCertain statements
contained in this press release are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, including
statements regarding the potential of XOMA’s portfolio of royalty
licenses to partnered programs and licensed technologies to
generate milestone and royalty proceeds over time and create
potential cash flow. These statements are based on
assumptions that may not prove accurate, and actual results could
differ materially from those anticipated due to certain risks
inherent in the biotechnology industry, product candidates subject
to out-license agreements are still being developed, and our
licensees may require substantial funds to continue development
which may not be available; we do not know whether there will be,
or will continue to be, a viable market for the products in which
we have an ownership or royalty interest; we may not be successful
in entering into out-license agreements for our product candidates;
if our therapeutic product candidates do not receive regulatory
approval, our third-party licensees will not be able to market
them. Other potential risks to XOMA meeting these
expectations are described in more detail in XOMA's most recent
annual report on Form 10-K, in subsequent quarterly reports on Form
10-Q and in other SEC filings. Consider such risks carefully
when considering XOMA's prospects. Any forward-looking
statement in this press release represents XOMA's views only as of
the date of this press release and should not be relied upon as
representing its views as of any subsequent date. XOMA disclaims
any obligation to update any forward-looking statement, except as
required by applicable law.
Investor contact:Juliane
SnowdenOratorium Group, LLC+1
646-438-9754jsnowden@oratoriumgroup.com
Media contact:Kathy VincentKV
Consulting & Management+1
310-403-8951kathy@kathyvincent.com
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