XOMA - XOMA receives first royalty payment from Agenus

XOMA (XOMA) earned a $1M milestone payment from Agenus (AGEN) related to Merck's advancement of MK-4830 into a Phase 2 study in patients with advanced non-small cell lung cancer previously treated with anti-programmed cell death receptor ligand 1 therapy.MK-4830 is part of the company's first transaction under its royalty and milestone aggregator business model in which it acquired a royalty interest in seven milestone and royalty-bearing licenses Agenus held with Merck and Incyte for $15M.AGEN shares -0.96% PM

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XOMA receives first royalty payment from Agenus