Xoma reports strong growth in 2005

California, USA-headquartered Xoma, a specialist manufacturer of antibody-based cancer- and immuno-therapeutics, says that its total revenues in 2005 increased to $18.7 million from the $3.7 million it achieved in 2004. The firm attributes the growth to increased royalty revenues from sales of the psoriasis drug Raptiva (efalizumab), which it jointly developed with Genentech. The company adds that it also saw increased revenue from existing licensing deals it has with Chiron and the National Institute of Allergy and Infectious Diseases.

The firm included the following as highlights of 2005: the completion of its $60.0 million convertible senior notes financing, which the company believes will secure it spending position through to 2008; its presentation of long-term study data at the American Association of Dermatologists meeting which demonstrate the safety of Raptiva in the ongoing treatment of psoriasis; a $15.0 million award the company received from the NIAID for the development of monoclonal antibodies to the botulinum neurotoxin; the licensing of its cell expression technology to Merck & Co; its collaboration deal with Lexicon to develop antibodies to targets identified by the latter; and its deal with Norway's Affitech AS to develop novel antibody products.