XOMA - XOMA earns $2M milestone payment from Takeda

XOMA (XOMA) earned a $2M milestone payment from Takeda Pharmaceutical as the first patient has been dosed in its Phase 2 study to evaluate safety, tolerability, and efficacy of mezagitamab (TAK-079) in participants with generalized myasthenia gravis.XOMA and Takeda entered into a collaboration agreement in 2016 to identify potential therapeutic antibodies that the latter would advance into clinical development.Mezagitamab is an anti-CD38 antibody that resulted from the companies' collaboration."In the last month, we have earned $28.5M in combined value from four partners, Takeda, Novartis, Merck, and one undisclosed company, as each achieved the first-patient-dosed milestone in their respective Phase 2 clinical trials.  In addition, we expanded and diversified our portfolio with the acquisition of milestone interest and royalty rights associated with four lysosomal storage disorder enzymes," CEO Jim Neal commented.XOMA may receive up to $16M in additional milestones from Takeda; on regulatory approval to commercialize mezagitamab, XOMA will receive a 4%

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XOMA earns $2M milestone payment from Takeda