XOMA licenses hyperinsulinemia candidate XOMA 358 to Rezolute; shares up 10%

|By:, SA News Editor

XOMA (XOMA +10%) has out-licensed product candidate XOMA 358 to Rezolute (OTCQB:ANTB -15%) for up to $240M.

Under the terms of the agreement, XOMA will receive milestone payments from Rezolute related to financing, clinical development, regulatory progress and commercial sales and high single-digit to mid-teens royalties. XOMA will also receive $5M in Rezolute common stock and an additional $13M in cash and stock when Rezolute completes certain financing milestones.

Rezolute is responsible for all development, regulatory, manufacturing and commercialization activities.

XOMA is entitled to receive low single-digit royalties on net sales of AB101 and other products developed from Rezolute's extended-release and oral plasma kallikrein inhibitor platforms.

XOMA 358 is a fully human antibody that inhibits the effect of elevated insulin by modulating the insulin receptor. It has Orphan Drug status in the U.S. and Europe for congenital hyperinsulinism.

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