XOMA Announces Multiple New License Agreements for Proprietary Phage Display Libraries
October 04 2017 - 9:15AM
XOMA Corporation (Nasdaq:XOMA), a pioneer in the discovery,
development and licensing of therapeutic antibodies, today
announced it has entered into new non-exclusive license agreements
with three different companies, Tizona Therapeutics, Inc., Torch
Biosciences, Inc., and LakePharma, for use of XOMA’s proprietary
phage display libraries for antibody discovery. Phage display
libraries are powerful tools to generate human recombinant
antibodies with exquisite specificity and high affinity.
“Increasing our universe of licensees to XOMA’s hallmark
proprietary phage display libraries is one of our key strategic
initiatives in 2017,” stated Jim Neal, Chief Executive Officer of
XOMA. “These new license agreements expand our portfolio of
partner-funded programs and further advance our business strategy
to drive shareholder value through future milestone and royalty
payments to the Company.”
Under these agreements, XOMA is eligible to receive development
and regulatory milestone payments plus single-digit royalties on
net sales of products. Additionally, the agreement with LakePharma,
a U.S.-based biologics services company, enables it to develop its
own antibodies using XOMA’s library, as well as offer the Company’s
library to its broad customer base. XOMA is eligible to receive
milestone and royalty payments for products developed by LakePharma
and as part of its client programs.
XOMA’s premier antibody discovery platform includes three phage
display libraries, which are among the largest in the world. The
Company believes access to multiple libraries offers a number of
benefits to its partners. Most importantly, it enables screening of
libraries in parallel to increase the probability of success in
finding rare and unique antibodies directed to targets of
interest.
About XOMA Corporation
XOMA has an extensive portfolio of products, programs, and
technologies that are the subject of licenses the Company has in
place with other biotech and pharmaceutical companies. Many of
these licenses are the result of the Company's pioneering efforts
in the discovery and development of antibody therapeutics. There
are more than 20 such programs that are fully funded by partners
and could produce milestone payments and royalty payments in the
future. For more information, visit www.xoma.com.
Forward-Looking Statements
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, including statements regarding the potential of XOMA’s
portfolio of partnered programs and licensed technologies
generating substantial milestone and royalty proceeds over time.
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 and for companies engaged in the development of new
products in a regulated market. Potential risks to XOMA meeting
these expectations are described in more detail in XOMA's most
recent filing on Form 10-K 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:Luke HeaglePure
Communications+1 910-726-1372lheagle@purecommunications.com
Media contact:Julie NormartPure
Communications+1 415-946-1087jnormart@purecommunications.com
XOMA Royalty (NASDAQ:XOMA)
Historical Stock Chart
From Aug 2024 to Sep 2024
XOMA Royalty (NASDAQ:XOMA)
Historical Stock Chart
From Sep 2023 to Sep 2024