XOMA Corp rises on acquiring assets royalty, milestone rights from LadRx

Xoma Royalty

22/06/2023 18:55

** Shares of biotech royalty aggregator XOMA Corporation
 XOMA.O  up 1.8% at $18.90 
    ** Co reports it had acquired royalty and milestone rights
associated with two assets from LadRx Corporation  LADX.PK  for
$5 mln
    ** The first assets arimoclomol, is an investigational
therapy in mid- to-late-stage of development by Zevra
Therapeutics Inc  ZRVA.O  for the treatment of an ultra-rare
genetic disorder 
    ** The second asset is aldoxorubicin, a mid-stage program in
development by Immunitybio Inc  IBRX.O  as a potential therapy
for pancreatic cancer
    ** To receive a mid-single digit royalty on arimoclomol's
commercial sales and mid-single-digit to mid-teens royalty rate
on aldoxorubicin sales - co 
    ** In addition, eligible for milestone payment of up to
$52.6 mln, net, on arimoclomol and up to $343 mln on
aldoxorubicin
    ** Including session moves, stock up 2.72% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))