XOMA has completed the sale of three million common shares in anoffering underwritten by, among others, US Bancorp Piper Jaffray and CIBC World Markets, raising proceeds (after expenses and fees) of $43.3 million. The company said that its objective had been to secure sufficient funding to help prepare for the commercialization of Xanelim (efalizumab), its investigational antibody for the treatment of psoriasis which has been co-developed with Genentech and is currently in Phase III (see page 18). The proceeds will also be used for clinical development of earlier-stage programs, including ING-1, a human-engineered antibody which is in Phase I studies in adenocarcinoma patients.
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