{"id":381506,"date":"2020-11-16T07:33:20","date_gmt":"2020-11-16T12:33:20","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=381506"},"modified":"2020-11-16T07:33:20","modified_gmt":"2020-11-16T12:33:20","slug":"xoma-earns-2-million-milestone-from-takeda-as-mezagitamab-advances-into-phase-2-development","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-earns-2-million-milestone-from-takeda-as-mezagitamab-advances-into-phase-2-development\/","title":{"rendered":"XOMA Earns $2 Million Milestone from Takeda as Mezagitamab Advances into Phase 2 Development"},"content":{"rendered":"
\n

EMERYVILLE, Calif., Nov. 16, 2020 (GLOBE NEWSWIRE) — XOMA Corporation (Nasdaq: XOMA) (\u201cXOMA\u201d or the \u201cCompany\u201d) today announced it has earned a $2 million milestone payment from Takeda Pharmaceutical Company Limited as the first patient has been dosed in its Phase 2 study to evaluate safety, tolerability, and efficacy of mezagitamab (TAK-079) in participants with generalized myasthenia gravis (MG).\u00a0 In 2006, XOMA and Takeda entered into a collaboration agreement to identify potential therapeutic antibodies that Takeda would advance into clinical development.\u00a0 Mezagitamab is an anti-CD38 antibody that resulted from the companies\u2019 collaboration.<\/p>\n

\u201cTakeda has multiple early stage mezagitamab studies ongoing in several indications.\u00a0 Myasthenia gravis is a chronic autoimmune neuromuscular disorder that causes patients to experience muscle weakness that may significantly impact their quality of life.\u00a0 We applaud Takeda for advancing mezagitamab development in generalized MG,\u201d stated Jim Neal, Chief Executive Officer at XOMA.\u00a0 \u201cWith only one therapy approved in the U.S., MG clearly is a condition with unmet medical need.<\/p>\n

\u201cIn the last month, we have earned $28.5 million in combined value from four partners, Takeda, Novartis, Merck, and one undisclosed company, as each achieved the first-patient-dosed milestone in their respective Phase 2 clinical trials.\u00a0 In addition, we expanded and diversified our portfolio with the acquisition of milestone interest and royalty rights associated with four lysosomal storage disorder enzymes.\u00a0 XOMA\u2019s royalty aggregator model is beginning to bear fruit, and our team is excited as we share in our partners\u2019 successes,\u201d Mr. Neal concluded.<\/p>\n

XOMA may receive up to $16 million in additional milestones from Takeda.\u00a0 Upon receipt of regulatory approval to commercialize mezagitamab, XOMA will receive a four percent royalty on any net product sales.<\/p>\n

\n About XOMA Corporation <\/strong>
\n
XOMA has built a significant portfolio of products that are licensed to and being developed by other biotech and pharmaceutical companies.\u00a0 The Company\u2019s portfolio of partner-funded programs spans multiple stages of the drug development process and across various therapeutic areas.\u00a0 Many of these licenses are the result of XOMA\u2019s pioneering efforts in the discovery and development of antibody therapeutics.\u00a0 The Company\u2019s royalty-aggregator business model includes acquiring additional milestone and royalty rights associated with drug development programs with third-party funding.\u00a0 For more information, visit www.xoma.com<\/a><\/u>.<\/p>\n

\n Safe Harbor <\/strong>
\n Statement<\/strong>
\n
Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the potential of XOMA\u2019s portfolio of partnered programs and licensed technologies generating substantial milestone and royalty proceeds over time, creating additional value for the stockholders, cash sufficiency forecast, economic outlook, and potential impact of the COVID-19 pandemic.\u00a0 These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry, including those related to the fact that our product candidates subject to out-license agreements are still being developed, and our licensees may require substantial funds to continue development which may not be available; we do not know whether there will be, or will continue to be, a viable market for the products in which we have an ownership or royalty interest; if the therapeutic product candidates to which we have a royalty interest do not receive regulatory approval, our third-party licensees will not be able to market them, and the impact to the global economy as a result of the COVID-19 pandemic.\u00a0 Other potential risks to XOMA meeting these expectations are described in more detail in XOMA’s most recent filing on Form 10-K and in other SEC filings.\u00a0 Consider such risks carefully when considering XOMA’s prospects.\u00a0 Any forward-looking statement in this press release represents XOMA’s views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date.\u00a0 XOMA disclaims any obligation to update any forward- looking statement, except as required by applicable law.<\/p>\n

EXPLANATORY NOTE: Any references to \u201cportfolio\u201d in this press release refer strictly to milestone and\/or royalty rights associated with a basket of drug products in development.\u00a0 Any references to \u201cassets\u201d in this press release refer strictly to milestone and\/or royalty rights associated with individual drug products in development.\u00a0 References to royalties or royalty rates strictly refer to future potential payment streams regardless of whether or not they are technically defined as royalties in the underlying contractual agreement; further, any rates referenced herein are subject to potential future contractual adjustments.<\/p>\n

As of the date of this press release, all assets in XOMA\u2019s milestone and royalty portfolio are investigational compounds.\u00a0 Efficacy and safety have not been established.\u00a0 There is no guarantee that any of these assets will become commercially available.<\/p>\n

\n Investor contact: <\/strong>
\n
Juliane Snowden
Oratorium Group, LLC
+1 646-438-9754
jsnowden@oratoriumgroup.com<\/p>\n

\n Media contact: <\/strong>
\n
Kathy Vincent
KV Consulting\u00a0& Management
+1 310-403-8951
kathy@kathyvincent.com<\/p>\n

\u00a0<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

EMERYVILLE, Calif., Nov. 16, 2020 (GLOBE NEWSWIRE) — XOMA Corporation (Nasdaq: XOMA) (\u201cXOMA\u201d or the \u201cCompany\u201d) today announced it has earned a $2 million milestone payment from Takeda Pharmaceutical Company Limited as the first patient has been dosed in its Phase 2 study to evaluate safety, tolerability, and efficacy of mezagitamab (TAK-079) in participants with generalized myasthenia gravis (MG).\u00a0 In 2006, XOMA and Takeda entered into a collaboration agreement to identify potential therapeutic antibodies that Takeda would advance into clinical development.\u00a0 Mezagitamab is an anti-CD38 antibody that resulted from the companies\u2019 collaboration. \u201cTakeda has multiple early stage mezagitamab studies ongoing in several indications.\u00a0 Myasthenia gravis is a chronic autoimmune neuromuscular disorder that causes patients to experience muscle weakness that may … <\/p>\n

Continue reading “XOMA Earns $2 Million Milestone from Takeda as Mezagitamab Advances into Phase 2 Development”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-381506","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nXOMA Earns $2 Million Milestone from Takeda as Mezagitamab Advances into Phase 2 Development - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-earns-2-million-milestone-from-takeda-as-mezagitamab-advances-into-phase-2-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XOMA Earns $2 Million Milestone from Takeda as Mezagitamab Advances into Phase 2 Development - 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