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BRIEF-Xoma announces transformational license agreements for gevokizumab and its IL-1 beta intellectual property portfolio
August 25, 2017 / 11:25 AM / 3 months ago

BRIEF-Xoma announces transformational license agreements for gevokizumab and its IL-1 beta intellectual property portfolio

Aug 25 (Reuters) - Xoma Corp

* Xoma announces transformational license agreements for gevokizumab and its IL-1 beta intellectual property portfolio

* Xoma Corp - ‍Under these agreements, Xoma will receive $31 million in upfront payments, including a $5 million equity investment​

* In a separate agreement, Xoma has granted Novartis a license to its intellectual property covering use of IL-1 beta

* Xoma - Is eligible to receive significant pre- and post-commercialization milestone payments plus tiered high-single to mid-double-digit royalties on net sales of gevokizumab​

* Xoma Corp - Novartis has agreed to settle Xoma’s EUR 12 million debt to Les Laboratoires Servier

* Xoma Corp - Extend maturity date on Xoma’s debt to Novartis from September 2020 to September 2022

* Xoma - Eligible to get low-single-digit royalties on canakinumab sales in cardiovascular indications rising to mid-single-digit royalties in some cases Source text for Eikon: Further company coverage:

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