Exhibit 1
News Release ![](xomanewlogo.jpg)
XOMA
ANNOUNCES DEPARTURE OF CFO
Berkeley, CA – July 28, 2008
-- XOMA Ltd. (NASDAQ: XOMA), today announced that J. David Boyle II,
XOMA’s Vice President of Finance and Chief Financial Officer, has resigned from
the company to join another biotechnology company where he will assume broader
responsibilities. Mr. Boyle will remain in his position through August 8, 2008
to complete the close of XOMA’s second quarter and the filing of its Form 10-Q.
A formal search for the position has been initiated.
Steven
Engle, XOMA’s Chairman and Chief Executive Officer, said, “David Boyle has been
a strong contributor to XOMA since he joined the company in January
2005. Under David’s leadership, XOMA strengthened its balance sheet
by eliminating all convertible debt and put in place an innovative financing
structure that provided cash on a non-dilutive basis. David also played a key
role in growing XOMA’s revenues to $84 million last year. We
appreciate his commitment and accomplishments, and wish him well in his new
executive role.”
About
XOMA
XOMA is a
leader in the discovery, development and manufacture of therapeutic antibodies.
The Company's expanding pipeline includes XOMA 052, an anti-IL-1 beta antibody,
and XOMA 629, a synthetic antimicrobial peptide compound derived from
bactericidal/permeability-increasing protein.
XOMA's
proprietary development pipeline is primarily funded by multiple revenue streams
resulting from the licensing of its antibody technologies, product royalties,
development collaborations, and biodefense contracts. XOMA's technologies and
experienced team have contributed to the success of marketed antibody products,
including RAPTIVA(r) (efalizumab) for chronic moderate to severe plaque
psoriasis, LUCENTIS(r) (ranibizumab injection) for wet age-related macular
degeneration and CIMZIA(r) (certolizumab pegol) for Crohn's
disease.
The
Company has a premier antibody discovery and development platform that
incorporates leading antibody phage display libraries and XOMA's proprietary
Human Engineering(tm) and bacterial cell expression technologies. Bacterial cell
expression is a key breakthrough biotechnology for the discovery and
manufacturing of antibodies and other proteins. As a result, more than 50
pharmaceutical and biotechnology companies have signed BCE
licenses.
In
addition to developing its own products, XOMA develops products with premier
pharmaceutical companies including Novartis AG, Schering-Plough Research
Institute and Takeda Pharmaceutical Company Limited. XOMA has a fully integrated
product development infrastructure, extending from pre-clinical science to
approval, and a team of 330 employees at its Berkeley location. For more
information, please visit http://www.xoma.com.
Certain
statements contained herein concerning product development and other similar
matters or that otherwise relate to future periods are forward-looking
statements within
the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These statements are based on assumptions that
may not prove accurate. Actual results could differ materially from those
anticipated due to certain risks inherent in the biotechnology industry and for
companies engaged in the development of new products in a regulated market.
These risks, including those related to the results of discovery research and
preclinical testing; the timing or results of pending and future clinical trials
(including the design and progress of clinical trials; safety and efficacy of
the products being tested; action, inaction or delay by the FDA, European or
other regulators or their advisory bodies; and analysis or interpretation by, or
submission to, these entities or others of scientific data); uncertainties
regarding the status of biotechnology patents; uncertainties as to the cost of
protecting intellectual property; changes in the status of the existing
collaborative and licensing relationships; the ability of collaborators,
licensees and other third parties to meet their obligations; market demand for
products; scale up and marketing capabilities; competition; international
operations; share price volatility; XOMA's financing needs and opportunities and
risks associated with XOMA's status as a Bermuda company, are described in more
detail in XOMA's most recent annual report on Form 10-K and in other SEC
filings. Consider such risks carefully in considering XOMA's
prospects.
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Company
Contact:
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Media
& Investors Contact:
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Greg
Mann
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Carolyn
Hawley
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XOMA
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Porter
Novelli Life Sciences
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510-204-7270
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619-849-5375
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mann@xoma.com
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chawley@pnlifesciences.com
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