XOMA Royalty Acquires Pulmokine for $20 Million Adding the Royalty and Milestone Interest in Seralutinib, a Phase 3 Asset, to Its Portfolio
XOMA Royalty has acquired Pulmokine for $20 million, gaining rights to seralutinib, a Phase 3 asset being developed for pulmonary arterial hypertension (PAH). The acquisition adds seralutinib as XOMA's seventh Phase 3 royalty asset, complementing its six commercial royalty assets. Seralutinib is being co-developed by Gossamer Bio and Chiesi Farmaceutici, with Phase 3 study results expected in Q4 2025. Through this acquisition, XOMA stands to receive up to $25 million in milestone payments and earn a low to mid-single digit royalty on commercial sales.
XOMA Royalty ha acquisito Pulmokine per 20 milioni di dollari, guadagnando i diritti su seralutinib, un asset in fase 3 in via di sviluppo per l'ipertensione arteriosa polmonare (PAH). L'acquisizione aggiunge seralutinib come settimo asset in fase 3 di royalty di XOMA, completando i suoi sei asset commerciali di royalty. Seralutinib è co-sviluppato da Gossamer Bio e Chiesi Farmaceutici, con i risultati dello studio di fase 3 previsti per il quarto trimestre del 2025. Attraverso questa acquisizione, XOMA si aspetta di ricevere fino a 25 milioni di dollari in pagamenti per traguardi e guadagnare una royalty a bassa o media singola cifra sulle vendite commerciali.
XOMA Royalty ha adquirido Pulmokine por 20 millones de dólares, obteniendo los derechos sobre seralutinib, un activo en fase 3 que se está desarrollando para la hipertensión arterial pulmonar (PAH). La adquisición añade seralutinib como el séptimo activo de regalías en fase 3 de XOMA, complementando sus seis activos comerciales de regalías. Seralutinib está siendo co-desarrollado por Gossamer Bio y Chiesi Farmaceutici, con resultados del estudio de fase 3 esperados para el cuarto trimestre de 2025. A través de esta adquisición, XOMA espera recibir hasta 25 millones de dólares en pagos por hitos y ganar una regalía de uno a medio dígito en las ventas comerciales.
XOMA Royalty는 2천만 달러에 Pulmokine을 인수하여 폐동맥 고혈압(PAH)을 위한 3상 자산인 seralutinib에 대한 권리를 확보했습니다. 이번 인수로 XOMA의 3상 로열티 자산은 일곱 개가 되었으며, 기존의 여섯 개 상용 로열티 자산을 보완하게 됩니다. Seralutinib는 Gossamer Bio와 Chiesi Farmaceutici가 공동 개발하고 있으며, 3상 연구 결과는 2025년 4분기에 발표될 예정입니다. 이번 인수를 통해 XOMA는 최대 2천5백만 달러의 이정표 지급금과 상용 판매에 대한 낮은 또는 중간 단일 자릿수 로열티를 받을 것으로 예상합니다.
XOMA Royalty a acquis Pulmokine pour 20 millions de dollars, obtenant les droits sur seralutinib, un actif en phase 3 en cours de développement pour l'hypertension artérielle pulmonaire (PAH). Cette acquisition ajoute seralutinib comme septième actif de royalties en phase 3 de XOMA, complémentant ses six actifs commerciaux de royalties. Seralutinib est co-développé par Gossamer Bio et Chiesi Farmaceutici, avec des résultats d'étude de phase 3 attendus au quatrième trimestre de 2025. Grâce à cette acquisition, XOMA espère recevoir jusqu'à 25 millions de dollars en paiements d'étapes et gagner une redevance à un chiffre bas ou moyen sur les ventes commerciales.
XOMA Royalty hat Pulmokine für 20 Millionen Dollar erworben und damit die Rechte an seralutinib, einem Phase-3-Asset, das zur Behandlung der pulmonalen arteriellen Hypertonie (PAH) entwickelt wird, gewonnen. Durch die Akquisition wird seralutinib zu XOMAs siebtem Phase-3-Royalty-Asset, das die sechs kommerziellen Royalty-Assets ergänzt. Seralutinib wird gemeinsam von Gossamer Bio und Chiesi Farmaceutici entwickelt, wobei die Ergebnisse der Phase-3-Studie im vierten Quartal 2025 erwartet werden. Durch diese Übernahme steht XOMA zu, bis zu 25 Millionen Dollar an Meilensteinzahlungen zu erhalten und eine niedrige bis mittlere einstelligige Royalty auf den kommerziellen Umsatz zu verdienen.
- Acquisition of Pulmokine adds seventh Phase 3 asset to portfolio
- Potential to earn up to $25 million in milestone payments
- Low to mid-single digit royalty revenue stream from future commercial sales
- Phase 3 study results expected in Q4 2025 providing near-term catalyst
- Significant upfront cash investment of $20 million
- Additional success-based payments to Pulmokine stockholders required
- Returns dependent on successful Phase 3 trial completion and commercialization
Insights
This
Seralutinib's development in pulmonary arterial hypertension (PAH) represents a significant opportunity in a challenging therapeutic area. The drug's strong mechanistic rationale as a selective PDGFR inhibitor addresses key pathways in PAH progression. The Phase 3 trial readout expected in Q4 2025 is well-timed, as current PAH treatments have limitations in disease modification. The potential for expansion into other cardio-respiratory conditions suggests broader market opportunities beyond the initial PAH indication. The backing of both Gossamer Bio and Chiesi Farmaceutici provides robust development and commercialization capabilities, increasing the likelihood of successful market entry.
Seralutinib becomes XOMA Royalty’s seventh Phase 3 royalty asset, further building the late-stage pipeline beyond its six current commercial royalty assets
Seralutinib is being developed and co-commercialized by Gossamer Bio, Inc., and Chiesi Farmaceutici S.p.A; a Phase 3 study for pulmonary arterial hypertension is ongoing and is expected to read out in the fourth quarter of 20251
XOMA Royalty has the potential to net up to
EMERYVILLE, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- XOMA Royalty Corporation (NASDAQ: XOMA) announced today it now owns an economic interest in seralutinib, a Phase 3 asset being studied in pulmonary arterial hypertension (PAH), through its acquisition of Pulmokine Inc., a privately held company. In 2017, Pulmokine licensed seralutinib to Gossamer Bio, Inc., and in 2024, Gossamer Bio signed a global collaboration and license agreement with Chiesi Farmaceutici S.p.A.
“We acquired Pulmokine to add seralutinib, a Phase 3 asset with strong mechanistic rationale in PAH, to our growing royalty and milestone portfolio while creating a favorable outcome for Pulmokine’s founders and stockholders. In addition, we believe seralutinib has the potential to address several cardio-respiratory conditions beyond PAH in the future,” stated Brad Sitko, Chief Investment Officer of XOMA Royalty. “This transaction marks the second whole-company acquisition we have completed in 2024. We continue to offer creative royalty capital solutions to access assets with the potential to deliver attractive returns to XOMA Royalty’s diverse portfolio.”
Terms
XOMA Royalty acquired all outstanding shares of Pulmokine for a
Advisors
XOMA Royalty was represented by Gibson, Dunn & Crutcher LLP.
About XOMA Royalty Corporation
XOMA Royalty is a biotechnology royalty aggregator playing a distinctive role in helping biotech companies achieve their goal of improving human health. XOMA Royalty acquires the potential future economics associated with pre-commercial therapeutic candidates that have been licensed to pharmaceutical or biotechnology companies. When XOMA Royalty acquires the future economics, the seller receives non-dilutive, non-recourse funding they can use to advance their internal drug candidate(s) or for general corporate purposes. The Company has an extensive and growing portfolio of assets (asset defined as the right to receive potential future economics associated with the advancement of an underlying therapeutic candidate). For more information about XOMA Royalty and its portfolio, please visit www.xoma.com or follow the Company on LinkedIn.
Forward-Looking Statements/Explanatory Notes
Certain statements contained in this press release are forward-looking statements, including statements regarding the potential indications for and therapeutic benefits of seralutinib and its potential to generate financial returns. In some cases, you can identify such forward-looking statements by terminology such as “anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,” “project,” “expect,” “may,” “will,” “would,” “could” or “should,” the negative of these terms or similar expressions. These forward-looking statements are not a guarantee of XOMA Royalty’s performance, and you should not place undue reliance on such statements. These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry, including those related to the fact that our product candidates subject to out-license agreements are still being developed, and our licensees may require substantial funds to continue development which may not be available; we do not know whether there will be, or will continue to be, a viable market for the products in which we have an ownership or royalty interest; if the therapeutic product candidates to which we have a royalty interest do not receive regulatory approval, and our third-party licensees will not be able to market them. Other potential risks to XOMA Royalty meeting these expectations are described in more detail in XOMA Royalty's most recent filing on Form 10-Q and in other filings with the Securities and Exchange Commission. Consider such risks carefully when considering XOMA Royalty's prospects. Any forward-looking statement in this press release represents XOMA Royalty's beliefs and assumptions only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. XOMA Royalty disclaims any obligation to update any forward-looking statement, except as required by applicable law.
EXPLANATORY NOTE: Any references to “portfolio” in this press release refer strictly to milestone and/or royalty rights associated with a basket of drug products in development. Any references to “assets” in this press release refer strictly to milestone and/or royalty rights associated with individual drug products in development.
As of the date of this press release, the commercial assets in XOMA Royalty’s milestone and royalty portfolio are VABYSMO® (faricimab-svoa), OJEMDA™ (tovorafenib), MIPLYFFA™ (arimoclomol), XACIATO™ (clindamycin phosphate) vaginal gel
| XOMA Royalty Investor Contact | XOMA Royalty Media Contact |
| Juliane Snowden | Kathy Vincent |
| XOMA Royalty Corporation | KV Consulting & Management |
| +1 646-438-9754 | +1 310-403-8951 |
| juliane.snowden@xoma.com | kathy@kathyvincent.com |
1 https://ir.gossamerbio.com/news-releases/news-release-details/gossamer-bio-announces-third-quarter-2024-financial-results-and
FAQ
What is the value of XOMA's acquisition of Pulmokine?
When are the Phase 3 trial results for seralutinib expected?
What royalty percentage will XOMA receive from seralutinib sales?
How many Phase 3 assets does XOMA now have in its portfolio?
