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XOMA Earnings $1.9M In Payments From 2 Partners

XOMA Corporation (NASDAQ:XOMA) ("XOMA" or the "Company") today announced it has earned $1.9 million in payments from two partners. The Company earned $1.4 million in accelerated

· 10/14/2020 07:35

XOMA Corporation (NASDAQ:XOMA) ("XOMA" or the "Company") today announced it has earned $1.9 million in payments from two partners. The Company earned $1.4 million in accelerated payments from Rezolute, Inc., in connection with its recent private placement to continue advancing RZ358 for congenital hyperinsulinism ("CHI") and RZ402 for diabetic macular edema ("DME") in clinical development. Additionally, in a separate development, XOMA has been notified by a partner that the partner has advanced an undisclosed asset in XOMA's milestone and royalty portfolio into Phase 2 clinical development, triggering a $0.5 million milestone payment.  

"We congratulate Rezolute on attracting high-caliber investors in its recent private placement. Having conducted the early stage studies for RZ358 we were able to get to know the CHI community, the patients, and their families. We know the medical community needs approved treatment options to help families and patients manage this devastating condition. We are very pleased Rezolute has secured this capital to invest in the next stage of clinical development of RZ358 as a potential therapeutic option for CHI patients," stated Jim Neal, Chief Executive Officer at XOMA. "In addition, it is gratifying to see our monetization strategy continue to mature and produce milestone events like the Phase 2 advancement on the undisclosed partner molecule."