XOMA Acquires Royalty and Milestone Interest in Checkmate’s Vidutolimod from Kuros Biosciences

San Diego – Paul Hastings LLP, a leading global law firm, represented Xoma Corporation, a biotechnology and pharmaceutical royalty aggregator, in the acquisition of the royalty interest position Kuros Biosciences holds in Checkmate Pharmaceuticals’ vidutolimod (CMP-001), an advanced-generation Toll-like receptor 9 agonist packaged in a virus-like particle, for $7 million upfront plus sales milestones.

Under the terms of the agreement, XOMA has acquired all future potential royalties from commercial sales of vidutolimod, which are tiered from high-single to double digits.  XOMA could receive up to $25 million in pre-commercial milestones associated with the Kuros/Checkmate license agreement.  Kuros will be eligible to receive certain sales milestone payments from XOMA based on net sales of vidutolimod.

The Paul Hastings team was led by M&A partner Deyan Spiridonov, and included partner Andrew Tenzer and associates Ryan Enchelmayer, Robert Hopkins, and April White.

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