XOMA receives final $2.0 million from Kaketsuken under antibody technology collaboration

Nov 1 2010

XOMA Ltd. (Nasdaq:XOMA), a leader in the discovery and development of therapeutic antibodies, today announced receipt of the final $2.0 million payment from Kaketsuken under the $8.0 million collaboration announced in November 2009. The agreement involves multiple proprietary XOMA antibody research and development technologies, including a new XOMA phage display library, and a suite of integrated information and data management systems. XOMA will be entitled to milestone payments and royalties on sales from products arising from this collaboration. The $8.0 million fee paid by Kaketsuken was recorded by XOMA as revenue in the 2009 fourth quarter.

"XOMA's antibody technology collaborations are designed to enable our partners to advance their drug discovery and optimization programs and provide an important source of revenue to the company. We look forward to additional revenue-generating antibody technology collaborations such as this successful arrangement with Kaketsuken," said XOMA Chairman and Chief Executive Officer Steven B. Engle.