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

July 19, 2021

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.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.

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