Insight on XOMA Corp and Novartis Licensing Deal

• Novartis has bought the rights to Xoma’s gevokizumab.
• Novartis AG bagged global commercial license for Xoma Corp.’s anti-IL-1 beta monoclonal antibody gevokizumab and rights to IL-1 beta intellectual property portfolio for cardiovascular disease.
• Novartis is paying out $31 million upfront, including a $5 million equity investment, along with commercialization milestone payments and tiered high-single to mid-double-digit royalties.

Gevokizumab is a potent monoclonal antibody, developed by XOMA Corporation, with unique allosteric modulating properties and the potential to treat patients with a wide variety of inflammatory and other diseases.