Brief: Xoma Corp - On March 21, 2023, Received Adverse Decision In Arbitration Proceeding With Licensees

Xoma Royalty

24/03/2023 20:23

March 24 (Reuters) - XOMA Corp  XOMA.O :
    * XOMA CORP -  ON MARCH 21, 2023, RECEIVED AN ADVERSE
DECISION IN
ARBITRATION PROCEEDING WITH LICENSEES
    * XOMA CORP - PANEL OF ARBITRATORS DECLINED TO AWARD US
DAMAGES
AND RULED THAT LICENSE AGREEMENT HAS EXPIRED
    * XOMA CORP -  PANEL RULED THAT WE ARE RESPONSIBLE FOR
LICENSEE’S
COSTS, ARBITRATORS’ & ADMINISTRATIVE FEES WHICH ARE ESTIMATED TO
BE ABOUT $4 MILLION
    * XOMA CORP - IN ADDITION, WE MAY BE RESPONSIBLE FOR CERTAIN
ADDITIONAL ARBITRATORS’ AND ADMINISTRATIVE FEES TO BE DETERMINED
IN A FINAL ACCOUNTING


Further company coverage:  XOMA.O 

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