{"id":513280,"date":"2021-07-15T04:03:02","date_gmt":"2021-07-15T08:03:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-acquires-royalty-and-milestone-interest-in-checkmates-vidutolimod-cmp-001-from-kuros-biosciences\/"},"modified":"2021-07-15T04:03:02","modified_gmt":"2021-07-15T08:03:02","slug":"xoma-acquires-royalty-and-milestone-interest-in-checkmates-vidutolimod-cmp-001-from-kuros-biosciences","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-acquires-royalty-and-milestone-interest-in-checkmates-vidutolimod-cmp-001-from-kuros-biosciences\/","title":{"rendered":"XOMA Acquires Royalty and Milestone Interest in Checkmate\u2019s Vidutolimod (CMP-001) from Kuros Biosciences"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">EMERYVILLE, Calif., July  15, 2021  (GLOBE NEWSWIRE) &#8212; XOMA Corporation (NASDAQ: XOMA), announced today it has acquired the royalty interest position Kuros Biosciences holds in Checkmate Pharmaceuticals\u2019 vidutolimod (CMP-001), an advanced-generation Toll-like receptor 9 agonist packaged in a virus-like particle, for $7.0 million upfront plus sales milestones.\u00a0 Vidutolimod is designed to trigger the body\u2019s innate immune system to attack tumors in combination with other therapies.\u00a0 The U.S. Food and Drug Administration has granted Fast Track designation to vidutolimod for the treatment of certain types of metastatic or unresectable melanoma and an Orphan Drug designation for Stages IIb &#8211; IV melanoma.<\/p>\n<p>\u201cWe were drawn to vidutolimod because of the breadth of Checkmate\u2019s development activities,\u201d said Jim Neal, Chief Executive Officer at XOMA.\u00a0 \u201cCheckmate currently is enrolling patients in a study with anti-PD-1 refractory advanced melanoma in combination with Bristol Myers Squibb\u2019s Opdivo\u00ae (nivolumab), a PD-1 blocking antibody, that is designed to serve as a registrational study.\u00a0 Checkmate also is pursuing a Phase 2\/3 study in front line melanoma patients in combination with Opdivo and a study in patients with head and neck cancer and is planning a study in three indications in collaboration with Regeneron in non-melanoma skin cancers.\u201d<\/p>\n<p>Under the terms of the agreement, XOMA has acquired all future potential royalties from commercial sales of vidutolimod, which are tiered from high-single to double digits.\u00a0 XOMA could receive up to $25 million in pre-commercial milestones associated with the Kuros\/Checkmate license agreement.\u00a0 Kuros will be eligible to receive certain sales milestone payments from XOMA based on net sales of vidutolimod.<\/p>\n<p>\n        <strong>About XOMA Corporation <\/strong><br \/>\n        <br \/>XOMA is a biotechnology royalty aggregator playing a unique role in helping biotech companies achieve their goal of improving human health.\u00a0 XOMA acquires the potential future economics associated with pre-commercial therapeutic candidates that have been licensed to pharmaceutical or biotechnology companies.\u00a0 When XOMA acquires the future economics, the seller receives non-dilutive, non-recourse funding they can use to advance their internal drug candidate(s) or for general corporate purposes.\u00a0 The Company has an extensive and growing portfolio with more than 70 assets (asset defined as the right to receive potential future economics associated with the advancement of an underlying therapeutic candidate).\u00a0 For more information about the Company and its portfolio, please visit www.xoma.com.<\/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, including vidutolimod, 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;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Investor contacts:<\/strong><br \/>\n            <br \/>Gitanjali Jain<br \/>Solebury Trout<br \/>+1-646-378-2949<br \/>gogawa@soleburytrout.com<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Juliane Snowden<br \/>XOMA<br \/>+1 646-438-9754<br \/>juliane.snowden@xoma.com<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Media contact: <\/strong><br \/>\n            <br \/>Kathy Vincent <br \/>KV Consulting\u00a0&amp; Management <br \/>310-403-8951 <br \/>kathy@kathyvincent.com<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/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=ODI4MDc2NSM0Mjk4MjU2IzIwMjcwMTY=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/8e193680-6cb9-441c-b901-cf607f623a9b\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>EMERYVILLE, Calif., July 15, 2021 (GLOBE NEWSWIRE) &#8212; XOMA Corporation (NASDAQ: XOMA), announced today it has acquired the royalty interest position Kuros Biosciences holds in Checkmate Pharmaceuticals\u2019 vidutolimod (CMP-001), an advanced-generation Toll-like receptor 9 agonist packaged in a virus-like particle, for $7.0 million upfront plus sales milestones.\u00a0 Vidutolimod is designed to trigger the body\u2019s innate immune system to attack tumors in combination with other therapies.\u00a0 The U.S. Food and Drug Administration has granted Fast Track designation to vidutolimod for the treatment of certain types of metastatic or unresectable melanoma and an Orphan Drug designation for Stages IIb &#8211; IV melanoma. \u201cWe were drawn to vidutolimod because of the breadth of Checkmate\u2019s development activities,\u201d said Jim Neal, Chief Executive Officer at &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-acquires-royalty-and-milestone-interest-in-checkmates-vidutolimod-cmp-001-from-kuros-biosciences\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;XOMA Acquires Royalty and Milestone Interest in Checkmate\u2019s Vidutolimod (CMP-001) from Kuros Biosciences&#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-513280","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>XOMA Acquires Royalty and Milestone Interest in Checkmate\u2019s Vidutolimod (CMP-001) from Kuros Biosciences - 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-acquires-royalty-and-milestone-interest-in-checkmates-vidutolimod-cmp-001-from-kuros-biosciences\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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to vidutolimod because of the breadth of Checkmate\u2019s development activities,\u201d said Jim Neal, Chief Executive Officer at &hellip; Continue reading &quot;XOMA Acquires Royalty and Milestone Interest in Checkmate\u2019s Vidutolimod (CMP-001) from Kuros Biosciences&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-acquires-royalty-and-milestone-interest-in-checkmates-vidutolimod-cmp-001-from-kuros-biosciences\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-15T08:03:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4MDc2NSM0Mjk4MjU2IzIwMjcwMTY=\" \/>\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 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