XOMA Corporation (XOMA)

[10bags]

XOMA tradinghalt + news!!!

http://www.nasdaqtrader.com/Trader.aspx?id=Tradehalts

7:56AM XOMA Limited and Servier sign development and commercialization agreement for XOMA 052; XOMA will receive approximately $35 mln upfront, up to approximately $470 mln in milestone payments and tiered royalties up to a mid-teens percentage (XOMA) 5.30 : Co and Les Laboratoires Servier announced the signing of a regional agreement to jointly develop and commercialize XOMA 052, XOMA's anti-inflammatory drug candidate, in multiple indications. XOMA will receive approximately $35 million upfront, up to approximately $470 million in milestone payments and tiered royalties up to a mid-teens percentage rate. XOMA retains development and commercialization rights for Behcet's uveitis and other inflammatory and oncology indications in U.S. and Japan. Servier receives similar rights in the rest of the worl Servier will fund the first $50 million of XOMA 052 development expenses and 50% of further expenses for the Behcet's uveitis indication. XOMA 052 is expected to advance into Phase 3 development Servier will fund development for diabetes and cardiovascular disease indications in exchange for worldwide rights. XOMA retains an option to reacquire the development and commercialization rights to the diabetes and cardiovascular indications in the U.S. and Japan
by paying.

all in one:
- new partner
- no need to bring stocks again o nthe market
- phase 3 this year
- orphan drug status
- now they are safe no other company will buy off xoma