Business
XOMA Acquires Cashflow-Generating Asset for its Royalty and Milestone Portfolio
Acquired IXINITY® commercial payment and milestone economics from Aptevo Therapeutics EMERYVILLE, Calif., March 30, 2023 (GLOBE NEWSWIRE) -- XOMA Corporation
About this update from Xoma Royalty Corporation
[{"type":"text","content":"Acquired IXINITY® commercial payment and milestone economics from Aptevo Therapeutics\nEMERYVILLE, Calif., March 30, 2023 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ: XOMA), announced today it has acquired the commercial payment and a portion of the milestone rights to IXINITY® [coagulation factor IX (recombinant)], which is marketed by Medexus Pharmaceuticals for the control and prevention of bleeding episodes and postoperative management in people with Hemophilia B, from Aptevo Therapeutics. “Adding a new commercial payment stream will benefit XOMA’s shareholders as we build our base of consistent incoming cash flows to help accelerate our royalty aggregation strategy,” stated Brad Sitko, Chief Investment Officer at XOMA. “IXINITY has an established niche in the Hemophilia B treatment paradigm, with near-term potential opportunities for growth, including label and geographic expansion.” Under the terms of the agreement, XOMA has acquired the full commercial payment stream and a portion of Aptevo’s milestone rights related to IXINITY for $9.6 million. In the second quarter of 2023, XOMA will begin receiving a mid-single digit percentage payment stream on all IXINITY sales from January 1, 2023, into the first quarter of 2035 and also will be entitled to milestone payments. About XOMA CorporationXOMA is a biotechnology royalty aggregator playing a distinctive role in helping biotech companies achieve their goal of improving human health. XOMA acquires the potential future economics associated with pre-commercial therapeutic candidates that have been licensed to pharmaceutical or biotechnology companies. When XOMA acquires the future economics, the seller receives non-dilutive, non-recourse funding they can use to advance their internal drug candidate(s) or for general corporate purposes. The Company has an extensive and growing portfolio with more than 70 assets (asset defined as the right to receive potential future economics associated with the advancement of an underlying therapeutic candidate). For more information about the Company and its portfolio, please visit www.xoma.com. Forward-Looking Statements/Explanatory Notes Certain 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, incl...