{"id":485613,"date":"2021-05-03T07:33:37","date_gmt":"2021-05-03T11:33:37","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-earns-milestone-for-first-patient-dosed-in-phase-3-development-program\/"},"modified":"2021-05-03T07:33:37","modified_gmt":"2021-05-03T11:33:37","slug":"xoma-earns-milestone-for-first-patient-dosed-in-phase-3-development-program","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-earns-milestone-for-first-patient-dosed-in-phase-3-development-program\/","title":{"rendered":"XOMA Earns Milestone for First Patient Dosed in Phase 3 Development Program"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">EMERYVILLE, Calif., May  03, 2021  (GLOBE NEWSWIRE) &#8212; XOMA Corporation (Nasdaq: XOMA) (\u201cXOMA\u201d or the \u201cCompany\u201d) today announced it has earned a $0.5 million milestone from Janssen Biotech, Inc. (Janssen), as a result of the first patient dosed in a Phase 3 clinical trial evaluating one of Janssen\u2019s biologic assets.<\/p>\n<p>\u201cSince 2017, our milestone and royalty portfolio has seen 27 advancements from one phase of development to the next.\u00a0 Each advance increases the potential value of the asset, as it moves closer to a possible regulatory approval and market launch.\u00a0 Cetrelimab is the second molecule to advance to Phase 3 development since we pivoted to become a biotech royalty aggregator in 2017,\u201d stated Jim Neal, Chief Executive Officer at XOMA.\u00a0 \u201cWe congratulate Janssen on reaching this important step and wish them continued success in their clinical development endeavors.\u201d<\/p>\n<p>Under the terms of the agreement with Janssen, XOMA has the potential to receive additional regulatory milestone payments should Janssen achieve marketing approval, and upon commercialization, the Company will receive a royalty on future commercial sales.\u00a0 Should Janssen expand its late-stage development activities beyond the targeted indication, XOMA could receive additional milestone economics.<\/p>\n<p>\n        <strong>About XOMA Corporation <\/strong><br \/>\n        <br \/>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 <u>www.xoma.com<\/u>.<\/p>\n<p>\n        <strong>Safe Harbor Statement<\/strong><br \/>\n        <br \/>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&#8217;s most recent filing on Form 10-K and in other SEC filings.\u00a0 Consider such risks carefully when considering XOMA&#8217;s prospects.\u00a0 Any forward-looking statement in this press release represents XOMA&#8217;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<p>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<p>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<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:30%;width:30%;min-width:30%\">\n            <strong>Investor contacts:<\/strong>\n          <\/td>\n<td style=\"max-width:70%;width:70%;min-width:70%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Gitanjali Jain<\/td>\n<td>Juliane Snowden<\/td>\n<\/tr>\n<tr>\n<td>Solebury Trout<\/td>\n<td>XOMA<\/td>\n<\/tr>\n<tr>\n<td>+1-646-378-2949<\/td>\n<td>+1 646-438-9754<\/td>\n<\/tr>\n<tr>\n<td>gogawa@soleburytrout.com<\/td>\n<td>juliane.snowden@xoma.com<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Media contact:<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Kathy Vincent<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>KV Consulting\u00a0&amp; Management<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>310-403-8951<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>kathy@kathyvincent.com<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIyNzc3MCM0MTYwMjY2IzIwMjcwMTY=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/65ebe616-38b5-46a7-a762-c943d393292b\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>EMERYVILLE, Calif., May 03, 2021 (GLOBE NEWSWIRE) &#8212; XOMA Corporation (Nasdaq: XOMA) (\u201cXOMA\u201d or the \u201cCompany\u201d) today announced it has earned a $0.5 million milestone from Janssen Biotech, Inc. (Janssen), as a result of the first patient dosed in a Phase 3 clinical trial evaluating one of Janssen\u2019s biologic assets. \u201cSince 2017, our milestone and royalty portfolio has seen 27 advancements from one phase of development to the next.\u00a0 Each advance increases the potential value of the asset, as it moves closer to a possible regulatory approval and market launch.\u00a0 Cetrelimab is the second molecule to advance to Phase 3 development since we pivoted to become a biotech royalty aggregator in 2017,\u201d stated Jim Neal, Chief Executive Officer at XOMA.\u00a0 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-earns-milestone-for-first-patient-dosed-in-phase-3-development-program\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;XOMA Earns Milestone for First Patient Dosed in Phase 3 Development Program&#8221;<\/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-485613","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>XOMA Earns Milestone for First Patient Dosed in Phase 3 Development Program - 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-milestone-for-first-patient-dosed-in-phase-3-development-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XOMA Earns Milestone for First Patient Dosed in Phase 3 Development Program - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"EMERYVILLE, Calif., May 03, 2021 (GLOBE NEWSWIRE) &#8212; XOMA Corporation (Nasdaq: XOMA) (\u201cXOMA\u201d or the \u201cCompany\u201d) today announced it has earned a $0.5 million milestone from Janssen Biotech, Inc. (Janssen), as a result of the first patient dosed in a Phase 3 clinical trial evaluating one of Janssen\u2019s biologic assets. \u201cSince 2017, our milestone and royalty portfolio has seen 27 advancements from one phase of development to the next.\u00a0 Each advance increases the potential value of the asset, as it moves closer to a possible regulatory approval and market launch.\u00a0 Cetrelimab is the second molecule to advance to Phase 3 development since we pivoted to become a biotech royalty aggregator in 2017,\u201d stated Jim Neal, Chief Executive Officer at XOMA.\u00a0 &hellip; Continue reading &quot;XOMA Earns Milestone for First Patient Dosed in Phase 3 Development Program&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-earns-milestone-for-first-patient-dosed-in-phase-3-development-program\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-03T11:33:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIyNzc3MCM0MTYwMjY2IzIwMjcwMTY=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/xoma-earns-milestone-for-first-patient-dosed-in-phase-3-development-program\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/xoma-earns-milestone-for-first-patient-dosed-in-phase-3-development-program\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"XOMA Earns Milestone for First Patient Dosed in Phase 3 Development Program\",\"datePublished\":\"2021-05-03T11:33:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/xoma-earns-milestone-for-first-patient-dosed-in-phase-3-development-program\\\/\"},\"wordCount\":741,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/xoma-earns-milestone-for-first-patient-dosed-in-phase-3-development-program\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODIyNzc3MCM0MTYwMjY2IzIwMjcwMTY=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/xoma-earns-milestone-for-first-patient-dosed-in-phase-3-development-program\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/xoma-earns-milestone-for-first-patient-dosed-in-phase-3-development-program\\\/\",\"name\":\"XOMA Earns Milestone for First Patient Dosed in Phase 3 Development Program - 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