THANK YOU FOR SUBSCRIBING
Pharma Tech Outlook | Thursday, May 20, 2021
XOMA Corporation has recently earned $0.5 million milestones from Jansen Biotech due to the first patient dosed in Phase 3 clinical trial analyzing one of its biologic assets.
FREMONT, CA: Janssen Biotech, Inc. (Janssen) has recently been awarded XOMA Corporation a $0.5 million milestone due to the first patient dosed in Phase 3 clinical trial analyzing one of its biologic assets.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
"Since 2017, our milestone and royalty portfolio has seen 27 advancements from one phase of development to the next. Each advance increases the potential value of the asset, as it moves closer to a possible regulatory approval and market launch. Cetrelimab is the second molecule to advance to Phase 3 development since we pivoted to become a biotech royalty aggregator in 2017," stated Jim Neal, Chief Executive Officer at XOMA. "We congratulate Janssen on reaching this important step and wish them continued success in their clinical development endeavors."
According to the terms of the agreement with Janssen, XOMA has the ability to gain additional regulatory milestone payments if Janssen secures marketing approval, and the Company will obtain a royalty on future commercial sales upon commercialization. XOMA may receive additional milestone economics if Janssen continues to expand its late-stage development activities even beyond targeted indication.
XOMA has created a considerable portfolio of products that have been licensed to and are being developed by other biotech and pharmaceutical firms. The Company's portfolio of partner-funded programs stretches to different levels of drug development and therapeutic areas. Most of these licenses are the result of XOMA's groundbreaking efforts in antibody therapeutic discovery and development. The Company's royalty-aggregator business model entails acquiring additional milestone and royalty rights related to drug development programs funded by third parties.
More in News