XOMA Earns $10 Million Milestone Payment as Another of its Licensed Assets

XOMA Corporation announced it has earned a $10 million milestone payment as one Company asset licensed to one of its pharmaceutical partners advances into clinical development.

XOMA CEO, Jim Neal said that their corporate strategy is to drive shareholder value by combining revenue from their portfolio of collaborator-funded programs with a lean cost structure. This $10 million milestone payment is the first of a potential $40 million they could receive from their portfolio of partnerships over the next 36 months. As these milestones are received, their belief is shareholders will begin to see XOMA transition to a cash flow positive company.

Similar to this program, XOMA has over 20 additional clinical and preclinical programs that are fully funded by partners across the biotech and pharmaceutical landscape. Each of those programs, as well as several internal programs available to be partnered, are capable of adding to the anticipated growth in milestone payments and royalty revenue streams over time.