On May 3, 2021 XOMA Corporation (Nasdaq: XOMA) ("XOMA" or the "Company") reported it has earned a $0.5 million milestone from Janssen Biotech, Inc. (Janssen), as a result of the first patient dosed in a Phase 3 clinical trial evaluating one of Janssen’s biologic assets (Press release, Xoma, MAY 3, 2021, View Source [SID1234579017]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"Since 2017, our milestone and royalty portfolio has seen 27 advancements from one phase of development to the next. Each advance increases the potential value of the asset, as it moves closer to a possible regulatory approval and market launch. Cetrelimab is the second molecule to advance to Phase 3 development since we pivoted to become a biotech royalty aggregator in 2017," stated Jim Neal, Chief Executive Officer at XOMA. "We congratulate Janssen on reaching this important step and wish them continued success in their clinical development endeavors."

Under the terms of the agreement with Janssen, XOMA has the potential to receive additional regulatory milestone payments should Janssen achieve marketing approval, and upon commercialization, the Company will receive a royalty on future commercial sales. Should Janssen expand its late-stage development activities beyond the targeted indication, XOMA could receive additional milestone economics.