UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On October 6, 2021, XOMA (US) LLC (“XOMA”), a wholly-owned subsidiary of XOMA Corporation (the “Company”), entered into a commercial payment purchase agreement (the “Agreement”) with Affitech Research AS, a Norwegian biotech company (“Affitech”). Pursuant to the Agreement, XOMA has purchased a future stream of commercial payment rights to Roche’s faricimab from Affitech for $6 million. XOMA is eligible to receive an economic interest of 0.50% of net sales of faricimab for a ten-year period following first commercial sales in each applicable jurisdiction. XOMA may pay up to an additional $20 million to Affitech based upon the achievement of certain regulatory and sales milestones.
The Agreement contains certain covenants, representations and warranties regarding Affitech’s rights and obligations with respect to the existing licenses and customary covenants and representations for a transaction of this nature.
The description of the Agreement contained herein does not purport to be complete and is qualified in its entirety by reference to such Agreement, a copy of which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the period ending December 31, 2021.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| XOMA CORPORATION | ||||||
| Date: October 7, 2021 | By: | /s/ THOMAS BURNS | ||||
| Thomas Burns | ||||||
| Senior Vice President, Finance and Chief Financial Officer | ||||||