XOMA - Biotech Royalty Aggregator XOMA To Acquire Small Cancer-Drug Developer Kinnate Biopharma | Benzinga
Friday, XOMA Corporation (NASDAQ:XOMA) agreed to acquire Kinnate Biopharma Inc (NASDAQ:KNTE) for a base cash price of $2.3352 per share and an additional cash amount of not more than $0.2527 per share plus a non-transferable contingent value right (CVR).
Kinnate Biopharma is a clinical-stage precision oncology company focused on developing cancer-targeted therapies. XOMA will commence a tender offer by March 4, 2024.
In November 2023, Kinnate Biopharma’s board of directors received a letter from Foresite Capital Management and OrbiMed Advisors indicating their intent to explore and evaluate a potential acquisition of the company.
“This acquisition will further add ...