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NEWS

XOMA and Viracta Therapeutics Announce Multi-License Milestone and Royalty Monetization Transaction

March 23, 2021

San Diego – Paul Hastings LLP, a leading global law firm, represented Xoma Corporation, a biotechnology and pharmaceutical royalty aggregator, in its multi-license and milestone monetization transaction with Viracta Therapeutics.

Under the terms of the agreement, XOMA has acquired potential royalty economics related to two drug-development programs. The first candidate, DAY101 (pan-RAF kinase inhibitor), is being developed by Day One Biopharmaceuticals, which recently initiated a pivotal Phase 2 with DAY101 in pediatric low-grade glioma. The second candidate, vosaroxin (topoisomerase II inhibitor), is being developed by Denovo Biopharma as a potential treatment for acute myeloid leukemia. XOMA has acquired potential royalty economics related to DAY101 and up to $54 million in pre-commercialization, event-based milestones and high single-digit net royalties on sales related to vosaroxin and up to $57 million in regulatory and commercial milestone in exchange for an upfront payment of $13.5 million and up to $20 million in a pre-commercialization, event-based milestones.

The Paul Hastings team was led by M&A partner Deyan Spiridonov and included partners Andrew Tenzer and Todd Schneider as well as associates Ryan Enchelmayer, Tyler Dodge and Robert Hopkins.

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

Mergers and Acquisitions

Life Sciences and Healthcare


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