Daré Bioscience raises $22 million by licensing royalties
Californian firm Daré Bioscience (Nasdaq: DARE) has completed a royalty monetization deal with XOMA (Nasdaq: XOMA), a company providing an alternative mechanism for biotechs to raise capital.
Daré, a company specializing in women’s health products, will receive $22 million in gross proceeds at the close of the deal.
Following a pre-specified total return, XOMA will make upside-sharing milestone payments equal to half of all remaining cash flows sold to XOMA under the transaction.
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