Xoma Royalty (XOMA) said Tuesday that it acquired the future royalty and milestone interests in mezagitamab held by BioInvent for a total of up to $30 million.
Mezagitamab, being developed by Takeda Pharmaceutical (TAK), is a fully human immunoglobulin IgG1 monoclonal antibody with high affinity for CD38 expressing cells, resulting in their depletion, the company said.
The company said it has paid $20 million to BioInvent and will pay an additional $10 million after mezagitamab receives marketing approval in the IgA nephropathy from the Food and Drug Administration.
The future royalty and milestone economics interest in mezagitamab stem from a 2003 cross-licensing agreement covering Xoma Royalty's legacy bacterial protein expression technology and BioInvent's n-CoDeR antibody library, the company said.
The company also said that Takeda has initiated a phase 3 clinical trial of mezagitamab in patients with immune thrombocytopenia.
Following the purchase of the new rights from BioInvent, Xoma Royalty will be entitled to milestones of up to $16.3 million from Takeda and mid-single digit royalties on future mezagitamab commercial sales, the company said.
Xoma Royalty shares were up 0.9% in recent trading.
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