XOMA acquires royalty interest in six clinical-stage targets
Californian biotech XOMA Corporation (Nasdaq: XOMA) has acquired a royalty interest in six clinical-stage assets targeting the adenosine pathway for $10 million from privately-held Spanish firm Palobiofarma.
One of the assets, NIR178, is being developed by Swiss pharma giant Novartis (NOVN: VX) as a novel checkpoint inhibitor for the treatment of solid tumors. The other five are being developed by Palobiofarma.
"It’s unusual to discover a private company that has three distinct compounds in Phase II development and three in Phase I"Jim Neal, chief executive at XOMA, said: “We are impressed by Palobiofarma’s expertise in adenosine receptor biology and what they have achieved. It’s unusual today to discover a private company that has three distinct compounds in Phase II development and three additional compounds in Phase I clinical studies.
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