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NEWS

XOMA Acquires Royalty and Milestone Interest in Checkmate’s Vidutolimod from Kuros Biosciences

July 19, 2021

San Diego – Paul Hastings LLP, a leading global law firm, represented Xoma Corporation, a biotechnology and pharmaceutical royalty aggregator, in the acquisition of the royalty interest position Kuros Biosciences holds in Checkmate Pharmaceuticals’ vidutolimod (CMP-001), an advanced-generation Toll-like receptor 9 agonist packaged in a virus-like particle, for $7 million upfront plus sales milestones.

Under the terms of the agreement, XOMA has acquired all future potential royalties from commercial sales of vidutolimod, which are tiered from high-single to double digits.  XOMA could receive up to $25 million in pre-commercial milestones associated with the Kuros/Checkmate license agreement.  Kuros will be eligible to receive certain sales milestone payments from XOMA based on net sales of vidutolimod.

The Paul Hastings team was led by M&A partner Deyan Spiridonov, and included partner Andrew Tenzer and associates Ryan Enchelmayer, Robert Hopkins, and April White.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.

Practice Areas

Corporate

Life Sciences and Healthcare

Mergers and Acquisitions


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