Paul Hastings advised Xoma Corporation on the deal. Vischer advised Kuros Biosciences AG.
Xoma Corporation, a biotechnology and pharmaceutical royalty aggregator, announced 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 (Picture), and included partner Andrew Tenzer and associates Ryan Enchelmayer, Robert Hopkins, and April White.
The Vischer team was led by Matthias Staehelin with Sebastian Flückiger (both Corporate/M&A).
Involved fees earner: Ryan Enchelmayer – Paul Hastings LLP; Robert Hopkins – Paul Hastings LLP; Deyan Spiridonov – Paul Hastings LLP; Andrew Tenzer – Paul Hastings LLP; April White – Paul Hastings LLP; Matthias Staehelin – VISCHER AG;