XOMA Forms Pact With Novartis

XOMA Corporation has licensed the global development and commercialization rights to its anti-transforming growth factor-beta (TGFb) antibody program to Novartis. XOMA will receive $37 million upfront and is eligible to receive up to $480 million if all development, regulatory, and commercial milestones are met. In addition, XOMA is eligible to receive royalties on product sales that range from the mid-single digits to the low double digits.

“XOMA and Novartis have worked closely together for several years to develop new product candidates. When they expressed interest in ouranti-TGFb program, we knew Novartis was the best company to bring this exciting potential therapy to the patients whom it may help,” said John Varian, chief executive officer, XOMA. “Novartis is recognized as a leader in oncology, where an anti-TGFb molecule has real potential either as monotherapy or in combination with other therapeutic options.