Xoma acquires royalty interest in six clinical-stage assets

XOMA (NASDAQ:XOMA) inks an agreement with Palobiofarma S.L. to receive low single-digit royalties from six clinical-stage adenosine pathway-targeting assets: two in cancer, one in asthma/COPD, one in inflammatory bowel disease, one in ideopathic pulmonary fibrosis and lung cancer and one in psoriasis and NASH for $10M in cash.

The company will fund the transaction with cash on hand and $5M borrowed from its credit line with Silicon Valley Bank.

https://seekingalpha.com/news/3502187-xoma-acquires-royalty-interest-six-clinical-stage-assets