XOMA Corporation has licensed the global development and commercialization rights to its anti-transforming growth factor-beta (TGFb) antibody program to Novartis. Under the terms of the agreement, XOMA will receive $37 million in the form of an upfront payment and is eligible to receive up to $480 million if all development, regulatory, and commercial milestones are met. In addition, XOMA is eligible to receive royalties on product sales.
"XOMA and Novartis have worked closely together for several years to develop new product candidates. When they expressed interest in our anti-TGFb program, we knew Novartis was the best company to bring this exciting potential therapy to the patients whom it may help," said John Varian, CEO of XOMA. "Novartis is recognized as a leader in oncology, where an anti-TGFb molecule has real potential either as monotherapy or in combination with other therapeutic options.
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