XOMA and Lab Servier in deal for multi-indication drug candidate worth a potential $505 million
Shares of US firm XOMA (Nasdaq: XOMA) leapt 38% to $7.31 by close of trading yesterday after it announced the signing of an agreement with France’s leading independent drugmaker Laboratoires Servier to jointly develop and commercialize XOMA 052, its anti-inflammatory drug candidate, in multiple indications, in a deal that could earn it as much as $835 million.
XOMA 052 is designed to inhibit the pro-inflammatory cytokine interleukin-1 beta that is believed to be a primary trigger of pathologic inflammation in multiple diseases. Key elements of this agreement include:
• XOMA will receive approximately $35 million upfront, up to approximately $470 million in milestone payments and tiered royalties up to a mid-teens percentage rate.
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