M&A: XOMA Royalty Corp

Form Type: 8-K

Filing Date: 2024-12-02

Corporate Action: Acquisition

Type: New

Accession Number: 000119312524268497

Comments: On December 2, 2024, XOMA Royalty Corporation announced that it entered into an Agreement and Plan of Merger with Pulmokine, Inc. and XRA 2 Corp., a wholly owned subsidiary of XOMA. XOMA acquired Pulmokine for a cash payment of $20 million at closing, along with future success-based payments contingent on subsequent developments and commercial milestones. XOMA will receive net royalties ranging from the low to mid-single digits on commercial sales and retain up to $25 million of future milestone payments related to the Phase 3 asset seralutinib. At the closing, the subsidiary merged with Pulmokine, making it a wholly owned subsidiary of XOMA. The agreement included customary representations, warranties, and covenants from each party.

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