Business development: Purchased mezagitamab royalty and milestone rights held by BioInvent International and will secure royalty economic interests in two early-stage partnered assets through XOMA Royalty’s recently announced acquisition of LAVA Therapeutics. Company acquisitions: Announced XOMA Royalty’s acquisitions of Turnstone Biologics, LAVA Therapeutics, and HilleVax; acted as structuring agent and provided financing for XenoTherapeutics’ acquisition of ESSA Pharma; completed the sale of Kinnate pipeline assets and distributed upfront proceeds to Kinnate contingent value right (CVR) holders. Key Pipeline advancements: Rezolute completed enrollment in Phase 3 sunRIZE study of ersodetug in patients with congenital hyperinsulinism; the Marketing Authorization Application (MAA) for Day One Biopharmaceuticals and Ipsen’s tovorafenib was accepted for review by the European Marketing Authority (EMA), resulting in a $4 million milestone payment to XOMA Royalty; Zevra Therapeutics submitted an MAA with EMA seeking marketing approval for arimoclomol as a treatment for Niemann-Pick Type C. Cash receipts: In the first half of 2025, XOMA Royalty received $29.6 million in royalties and milestones from its partners, including $11.7 million during the second quarter. EMERYVILLE, Calif., Aug. 13, 2025 (GLOBE NEWSWIRE) -- XOMA Royalty Corporation (NASDAQ: XOMA), the biotech royalty aggregator, reported its 2025 second quarter and year to date financial results and highlighted recent actions that have the potential to deliver shareholder value. “We continue to add to our diversified portfolio of both early- and late-stage assets through disciplined capital deployment and creative financial structures,” stated Owen Hughes, Chief Executive Officer of XOMA Royalty. “Recently approved drugs are addressing key unmet patient needs, which is driving increased royalty receipts, and we await data from several key Phase 3 assets over the coming quarters.” Royalty and Milestone Acquisitions CompanyAsset and Transaction DetailBioInventXOMA Royalty deployed $20 million to purchase the future mezagitamab royalty and milestone interests held by BioInvent and will pay an additional $10 million as the asset achieves a certain regulatory milestone. With its existing entitlement, plus the newly acquired economics from BioInvent, XOMA Royalty will be entitled to milestones of up to $16.25 million from Takeda and mid-single digit royalties on future mezagitamab commercial sales.LAVA TherapeuticsXOMA Royalty will secure an economic interest in two partnered assets through the Company’s recently announced acquisition of LAVA. The partnered assets are PF-08046052, which is being developed by Pfizer, and JNJ-89853413, which is being developed by Johnson & Johnson. Company Acquisitions CompanyTransaction DetailsTurnstone BiologicsXOMA Royalty and Turnstone Biologics entered into a definitive merger agreement, whereby XOMA Royalty will acquire Turnstone for $0.34 in cash per share of Turnstone common stock plus one non-transferable contingent value right (CVR). The transaction closed on August 11.HilleVaxXOMA Royalty and HilleVax have entered into a definitive merger agreement, whereby XOMA Royalty will acquire HilleVax for $1.95 per share upon closing. HilleVax stockholders also will receive a CVR that entitles them to receive certain potential payments following the closing of a pro rata portion of any remaining HilleVax cash in excess of $102.95 million; certain savings realized related to HilleVax’ office lease obligations, and should XOMA Royalty sell or out license the HilleVax norovirus programs within two years after the acquisition closes, 90% of any net proceeds received within five years by XOMA Royalty. The acquisition is expected to be completed in September.LAVA TherapeuticsXOMA Royalty and LAVA Therapeutics have entered into a definitive merger agreement, whereby XOMA Royalty will acquire LAVA for between $1.16 and $1.24 in cash per share of LAVA common stock plus one non-transferable CVR representing the right to receive 75% of the net proceeds related to LAVA’s two partnered assets and 75% of any proceeds related to the sale or out license of LAVA’s unpartnered programs. The acquisition is expected to close in the fourth quarter of 2025.XenoTherapeutics Acquisition of ESSA PharmaXOMA Royalty acted as structuring agent and is providing short-term financing for XenoTherapeutics’ acquisition of ESSA Pharma.KinnateXOMA Royalty sold the remaining Kinnate pipeline assets for a total of up to $270 million in upfront and milestone payments, plus royalties on commercial sales at rates ranging from low-single digits to mid-teens. In July, the Kinnate CVRs holders received their 85% share of the modest upfront payments. Pipeline Partner Updates through August 8, 2025 PartnerEventRezoluteIn May, the company announced the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation (BTD) to its investigational therapy, ersodetug, for the treatment of hypoglycemia caused by tumor HI.1 In May, Rezolute announced the completion of enrollment in the Phase 3 sunRIZE study. Topline data are anticipated in December of 2025.2As a result of Rezolute completing enrollment in the study, XOMA Royalty received a $5 million milestone payment.TakedaThe first patient was dosed in Takeda’s Phase 3 clinical trial investigating mezagitamab as a treatment for adults with chronic primary immune thrombocytopenia (ITP). This achievement resulted in XOMA Royalty receiving a $3.0 million milestone payment, net, during the second quarter.Day One BiopharmaceuticalsIpsen, Day One’s partner outside of the U.S., announced its Marketing Authorization Application (MAA) for tovorafenib as a treatment for pediatric low-grade glioma (pLGG) had been accepted for review by the European Medicines Agency (EMA)3.Zevra TherapeuticsOn July 28, Zevra announced it had submitted an MAA to EMA for the evaluation of arimoclomol for the treatment of Niemann-Pick Disease Type C (NPC)4.Gossamer BioOn June 16, Gossamer announced it had completed enrollment in the ongoing Phase 3 PROSERA Study that is evaluating seralutinib in Functional Class II and III pulmonary atrial hypertension (PAH) patients5. Topline results continue to be anticipated in February 20266.Daré BiosciencesAnnounced positive interim safety and efficacy results from its ongoing Phase 3 clinical trial evaluating the contraceptive effectiveness, safety, and acceptability of Ovaprene®, an investigational monthly, hormone-free intravaginal contraceptive.7 Anticipated 2025 Partner Events of Note PartnerEventRezoluteTopline data from sunRIZE Phase 3 clinical trial, which is investigating ersodetug in infants and children with congenital hyperinsulinism (cHI). Topline data are expected in December 20252. First patient dosed in the Phase 3 registrational study for ersodetug for the treatment of hypoglycemia due to tumor hyperinsulinism8.TakedaFirst patient dosed in Takeda’s Phase 3 clinical trial investigating mezagitamab as a treatment for adults with IgA Nephropathy.Gossamer BioActivates first clinical sites for the global, registrational Phase 3 SERANATA Study examining seralutinib in patients with pulmonary hypertension associated with interstitial lung disease (PH-ILD) in the fourth quarter5.Daré BioscienceMakes Sildenafil Cream, 3.6% available commercially via prescription in the fourth quarter of 2025 as a compounded drug under Section 503B of the Federal Food, Drug, and Cosmetic Act.9 Commencement of one of two registrational Phase 3 clinical trials investigating Sildenafil Cream, 3.6%, for the treatment of female sexual arousal disorder10. Second Quarter and Year to Date 2025 Financial Results Tom Burns, Chief Financial Officer of XOMA Royalty, commented, “In the first six months of 2025, we have received $29.6 million in cash from partners, of which $16.0 million were royalty payments related to commercial sales and $13.6 million in milestone payments and fees. In the second quarter, we received $11.7 million in cash, $2.6 million from our partners’ commercial sales and $9.0 million from milestones and fees. Our partners’ product marketing activities continue to be well executed and as new commercial opportunities within our portfolio emerge, our line of sight to becoming cash flow positive on a consistent basis exclusively from the cash payments received from royalties grows clearer. With this outlook, we deployed $1.8 million to repurchase 81,682 shares of our common stock in the second quarter, bringing the total number of shares repurchased in 2025 to over 107,500 shares.” Income and Revenue: Income and revenue for the three and six months ended June 30, 2025, were $13.1 million and $29.0 million, respectively, as compared with $11.1 million and $12.6 million for the corresponding periods of 2024. The increase in both periods presented was primarily driven by increased income related to VABYSMO and OJEMDA. Research and Development (R&D) Expenses: R&D expenses for the three and six months ended June 30, 2025, were $0.1 million and $1.4 million, respectively, compared with $1.2 million for each of the corresponding periods of 2024. The R&D expenses in the first quarter of 2025 and the three- and six-month periods of 2024 were related to the clinical trial costs incurred subsequent to XOMA Royalty’s acquisition of Kinnate in April 2024 related to KIN-3248 and the associated wind-down activities. General and Administrative (G&A) Expenses: G&A expenses for the three and six months ended June 30, 2025, were $7.8 million and $15.9 million, respectively, as compared with $11.0 million and $19.5 million for the corresponding periods of 2024. The decrease in the second quarter of 2025 compared to the second quarter of 2024 was primarily due to the $3.6 million in exit packages paid to Kinnate senior leadership in the second quarter of 2024. In 2025, XOMA Royalty’s G&A expenses included non-cash stock-based compensation expenses during the three and six months ended June 30, 2025, of $1.6 million and $3.6 million, respectively, as compared to $2.7 million and $5.5 million for the corresponding periods of 2024. The 2024 periods reflect non-cash stock-based compensation related to the appointment of Mr. Hughes to full-time Chief Executive Officer and issuance of performance stock units. Credit Losses on Purchased Receivables: In the second quarter of 2024, XOMA Royalty recorded a one-time, non-cash credit loss on purchased receivables of $9.0 million and a corresponding reduction of royalty receivables of $9.0 million associated with the Aronora assets. To date there have been no credit losses in 2025. Amortization of Intangible Assets: Amortization of intangible assets relates to the IP acquired in the Company’s acquisitions of Pulmokine in November 2024 and the mezagitamab economics from the BioInvent transaction in May 2025. Amortization of non-cash intangible assets were $0.7 million and $1.2 million for the three and six months ended June 30, 2025. Gain on Acquisition of Kinnate: In the second quarter of 2024, XOMA Royalty recorded a $19.3 million gain on the acquisition of Kinnate due to the fair value of net assets that exceeded total purchase consideration. Interest Expense: For the three and six months ended June 30, 2025, interest expense was $3.2 million and $6.7 million, respectively, as compared with $3.4 million and $7.0 million for the corresponding periods of 2024. Interest expense relates to the Blue Owl Loan established in December 2023. Other Income, net: For the three and six months ended June 30, 2025, other income, net was $7.8 million and $7.7 million, respectively, as compared with $2.1 million and $4.0 million for the corresponding periods of 2024. The increases for the periods presented were primarily driven by increases in the fair value of XOMA Royalty’s investments in equity securities. Net Income: XOMA Royalty reported net income of $9.2 million and $11.6 million for the three and six months ended June 30, 2025, as compared to $16.0 and $7.4 million in the corresponding periods of 2025. Cash Position: On June 30, 2025, XOMA Royalty had cash and cash equivalents of $78.5 million (including $3.4 million in restricted cash), compared with cash and cash equivalents of $106.4 million (including $4.8 million in restricted cash) on December 31, 2024. In the second quarter of 2025, XOMA Royalty received $11.7 million in cash receipts including $2.6 million in royalties and commercial payments and $9.0 million in milestones and fees. During the second quarter of 2025, XOMA Royalty deployed $20 million to acquire additional economics in mezagitamab, repurchased approximately 81,700 shares of XOMA Royalty common stock for a cost of $1.8 million, and paid $1.4 million in dividends on the XOMA Royalty Perpetual Preferred stocks. In the first six months of 2025, XOMA Royalty received $29.6 million in cash receipts, including $16.0 million in royalties and commercial payments and $13.6 million in milestone payments and fees. During the first half of 2025, XOMA Royalty deployed $25.0 million to acquire additional assets for its royalty and milestone portfolio, repurchased approximately 107,500 shares of its common stock for a cost of $2.4 million, and paid $2.7 million in dividends on the XOMA Royalty Perpetual Preferred stocks. About XOMA Royalty CorporationXOMA Royalty is a biotechnology royalty aggregator playing a distinctive role in helping biotech companies achieve their goal of improving human health. XOMA Royalty acquires the potential future economics associated with pre-commercial and commercial therapeutic candidates that have been licensed to pharmaceutical or biotechnology companies. When XOMA Royalty acquires the future economics, the seller receives non-dilutive, non-recourse funding they can use to advance their internal drug candidate(s) or for general corporate purposes. The Company has an extensive and growing portfolio of assets (asset defined as the right to receive potential future economics associated with the advancement of an underlying therapeutic candidate). For more information about the Company and its portfolio, please visit www.xoma.com or follow XOMA Royalty Corporation on LinkedIn. Forward-Looking Statements/Explanatory NotesCertain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the timing and amount of potential commercial payments to XOMA Royalty and other developments related to VABYSMO® (faricimab-svoa), OJEMDA™ (tovorafenib), MIPLYFFA™ (arimoclomol), XACIATO™ (clindamycin phosphate) vaginal gel 2%, IXINITY® [coagulation factor IX (recombinant)], DSUVIA® (sufentanil sublingual tablet), and Sildenafil Cream, 3.6%; the potential occurrences of the events listed under “Anticipated 2025 Events of Note”; the anticipated timings of regulatory filings and approvals related to assets in XOMA Royalty’s portfolio; and the potential of XOMA Royalty’s portfolio of partnered programs and licensed technologies generating substantial milestone and royalty proceeds over time. In some cases, you can identify such forward-looking statements by terminology such as “anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,” “project,” “expect,” “may,” “will”, “would,” “could” or “should,” the negative of these terms or similar expressions. These forward-looking statements are not a guarantee of XOMA Royalty’s performance, and you should not place undue reliance on such statements. These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry, including those related to the fact that our product candidates subject to out-license agreements are still being developed, and our licensees may require substantial funds to continue development which may not be available; we do not know whether there will be, or will continue to be, a viable market for the products in which we have an ownership or royalty interest; and if the therapeutic product candidates to which we have a royalty interest do not receive regulatory approval, our third-party licensees will not be able to market them. Other potential risks to XOMA Royalty meeting these expectations are described in more detail in XOMA Royalty's most recent filing on Form 10-Q and in other filings with the Securities and Exchange Commission. Consider such risks carefully when considering XOMA Royalty's prospects. Any forward-looking statement in this press release represents XOMA Royalty's beliefs and assumptions only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. XOMA Royalty disclaims any obligation to update any forward-looking statement, except as required by applicable law. EXPLANATORY NOTE: Any references to “portfolio” in this press release refer strictly to milestone and/or royalty rights associated with a basket of drug products in development. Any references to “assets” in this press release refer strictly to milestone and/or royalty rights associated with individual drug products in development. As of the date of this press release, the commercial assets in XOMA Royalty’s milestone and royalty portfolio are VABYSMO® (faricimab-svoa), OJEMDA™ (tovorafenib), MIPLYFFA™ (arimoclomol), XACIATO™ (clindamycin phosphate) vaginal gel 2%, IXINITY® [coagulation factor IX (recombinant)], and DSUVIA® (sufentanil sublingual tablet). All other assets in the milestone and royalty portfolio are investigational compounds. Efficacy and safety have not been established. There is no guarantee that any of the investigational compounds will become commercially available. 1 https://ir.rezolutebio.com/news/detail/354/rezolute-receives-breakthrough-therapy-designation-from-fda-for-ersodetug-in-the-treatment-of-hypoglycemia-due-to-tumor-hyperinsulinism2 https://ir.rezolutebio.com/news/detail/356/rezolute-announces-completion-of-enrollment-in-the-phase-3-sunrize-study-of-ersodetug-in-patients-with-congenital-hyperinsulinism3 https://www.ipsen.com/press-releases/ipsen-delivers-strong-sales-in-the-first-quarter-2025-and-confirms-its-full-year-guidance-3062256/4 https://investors.zevra.com/news-releases/news-release-details/zevra-therapeutics-submits-marketing-authorization-application5 https://ir.gossamerbio.com/news-releases/news-release-details/gossamer-bio-announces-completion-enrollment-registrational6 https://ir.gossamerbio.com/news-releases/news-release-details/gossamer-bio-announces-second-quarter-2025-financial-results-and7 https://ir.darebioscience.com/news-releases/news-release-details/positive-interim-phase-3-results-highlight-potential-ovaprener8 https://ir.rezolutebio.com/news/detail/337/rezolute-announces-fda-clearance-of-ind-application-for-phase-3-registrational-study-of-rz358-for-treatment-of-hypoglycemia-due-to-tumor-hyperinsulinism9 https://ir.darebioscience.com/news-releases/news-release-details/dare-bioscience-and-rosy-wellness-announce-strategic10 https://ir.darebioscience.com/news-releases/news-release-details/dare-bioscience-announces-phase-3-plans-sildenafil-cream-36 XOMA CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited)(in thousands, except share and per share amounts)
Three Months Ended June, Six Month Ended June 30, 2025 2024 2025 2024 Income and Revenues:
Income from purchased receivables under the EIR method$6,007 $4,562 $12,077 $4,562 Income from purchased receivables under the cost recovery method 1,743 870 7,268 870 Revenue from contracts with customers 5,025 5,025 9,025 6,025 Revenue recognized under units-of-revenue method 354 629 671 1,119 Total income and revenues 13,129 11,086 29,041 12,576
Operating expenses:
Research and development 69 1,161 1,362 1,194 General and administrative 7,802 11,004 15,948 19,465 Credit losses on purchased receivables - 9,000 - 9,000 Amortization of intangible assets 655 - 1,199 - Total operating expenses 8,526 21,165 18,509 29,659
Income (Loss) from operations 4,603 (10,079) 10,532 (17,083)
Other income (expense)
Gain on the acquisition of Kinnate - 19,316 - 19,316 Change in fair value of embedded derivative related to RPA - 8,100 - 8,100 Interest expense (3,236) (3,402) (6,703) (6,953)Other income, net 7,824 2,050 7,729 4,010 Net income$9,191 $15,985 $11,558 $7,390 Net income available to common stockholders, basic$5,522 $10,224 $6,225 $3,253 Basic net income per share available to common stockholders$0.46 $0.88 $0.52 $0.28 Weighted average shares used in computing basic net income per share available to common stockholders 12,007 11,643 11,988 11,611
Net income available to common stockholders, diluted$7,823 $14,617 $8,822 $4,654 Diluted net income per share available to common stockholders$0.44 $0.84 $0.50 $0.27 Weighted average shares used in computing diluted net income per share available to common stockholders 17,761 17,321 17,777 17,263
XOMA CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(unaudited)(in thousands, except share and per share amounts)
June 30, December 31, 2025 2024 ASSETS Current assets: Cash and cash equivalents$75,060 $101,654 Short-term restricted cash 80 1,330 Investment in equity securities 8,801 3,529 Trade and other receivables, net 1,817 1,839 Short-term royalty and commercial payment receivables under the EIR method 17,960 14,763 Short-term royalty and commercial payment receivables under the cost recovery method 700 413 Prepaid expenses and other current assets 507 2,076 Total current assets 104,925 125,604
Long-term restricted cash 3,345 3,432 Property and equipment, net 26 32 Operating lease right-of-use assets 288 319 Long-term royalty and commercial payment receivables under the EIR method 4,775 4,970 Long-term royalty and commercial payment receivables under the cost recovery method 58,937 55,936 Exarafenib milestone asset (Note 4) 3,402 3,214 Investment in warrants 609 - Intangible assets, net 45,434 25,909 Other assets - long term 1,715 1,861 Total assets$223,456 $221,277
LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable$1,138 $1,053 Accrued and other liabilities 5,411 5,752 Contingent consideration under RPAs, AAAs, and CPPAs - 3,000 Operating lease liabilities 472 446 Unearned revenue recognized under units-of-revenue method 1,434 1,361 Preferred stock dividend accrual 1,368 1,368 Current portion of long-term debt 11,672 11,394 Total current liabilities 21,495 24,374
Unearned revenue recognized under units-of-revenue method – long-term 3,666 4,410 Exarafenib milestone contingent consideration 3,402 3,214 Long-term operating lease liabilities 238 483 Long-term debt 102,201 106,875 Total liabilities 131,002 139,356
Convertible preferred stock, $0.05 par value, 5,003 shares authorized, issued and outstanding as of June 30, 2025 and December 31, 2024 20,019 20,019
Stockholders’ equity: 8.625% Series A cumulative, perpetual preferred stock, $0.05 par value, 984,000 shares authorized, issued and outstanding as of June 30, 2025 and December 31, 2024 49 49 8.375% Series B cumulative, perpetual preferred stock, $0.05 par value, 3,600 shares authorized, 1,600 shares issued and outstanding as of June 30, 2025 and December 31, 2024 — — Common stock, $0.0075 par value, 277,333,332 shares authorized, 12,062,466 and 11,952,377 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 90 90 Additional paid-in capital 1,300,066 1,298,747 Accumulated other comprehensive income 122 73 Accumulated deficit (1,227,892) (1,237,057)Total stockholders’ equity 72,435 61,902 Total liabilities, convertible preferred stock and stockholders’ equity$223,456 $221,277
XOMA CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)(in thousands)
Six Months Ended June 30, 2025 2024 Cash flows from operating activities:
Net income$11,558 $7,390 Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Adjustment for income from EIR method purchased receivables (3,935) (4,562)Stock-based compensation expense 3,588 5,546 Credit losses on purchased receivables — 9,000 Gain on the acquisition of Kinnate — (19,316)Common stock contribution to 401(k) 141 118 Amortization of intangible assets 1,199 — Depreciation 6 5 Accretion of long-term debt discount and debt issuance costs 749 508 Non-cash lease expense 31 29 Change in fair value of equity securities (5,173) (535)Change in fair value of available-for-sale debt securities classified as cash equivalents 49 — Change in fair value of derivatives (5) — Changes in assets and liabilities:
Trade and other receivables, net 22 478 Prepaid expenses and other assets 1,715 (603)Accounts payable and accrued liabilities (387) 921 Operating lease liabilities (219) (82)Unearned revenue recognized under units-of-revenue method (671) (1,117)Net cash provided by (used in) operating activities 8,668 (2,220)
Cash flows from investing activities:
Net cash acquired in Kinnate acquisition — 18,926 Payments of consideration under RPAs, AAAs, and CPPAs (8,000) (37,000)Receipts under RPAs, AAAs, and CPPAs 2,039 16,741 Payment for BioInvent contract-based intangible asset (20,614) — Purchase of property and equipment — (17)Purchase of equity securities (99) — Net cash used in investing activities (26,674) (1,350)
Cash flows from financing activities:
Principal payments – debt (5,065) (3,616)Debt issuance costs and loan fees paid in connection with long-term debt (80) (661)Payment of preferred stock dividends (2,736) (2,736)Repurchases of common stock (2,370) (13)Proceeds from exercise of options and other share-based compensation 896 2,353 Taxes paid related to net share settlement of equity awards (570) (1,387)Net cash used in financing activities (9,925) (6,060)
Net decrease in cash, cash equivalents and restricted cash (27,931) (9,630)Cash, cash equivalents and restricted cash at the beginning of the period 106,416 159,550 Cash, cash equivalents and restricted cash at the end of the period$78,485 $149,920
Supplemental Cash Flow Information:
Cash paid for interest$6,078 $3,780 Cash paid for taxes$277 $— Non-cash investing and financing activities:
Estimated fair value of the Exarafenib milestone asset$— $2,922 Estimated fair value of the Exarafenib milestone contingent consideration$— $2,922 Right-of-use assets obtained in exchange for operating lease liabilities in Kinnate acquisition$— $824 Relative fair value basis reduction of rights-of-use assets in Kinnate acquisition$— $(824)Accrual of contingent consideration under the Affitech CPPA$— $3,000 Preferred stock dividend accrual$1,368 $1,368 Excise tax accrual due to stock repurchases$24 $— Transaction costs in connection with BioInvent IP acquisition included in accounts payable$111 $—
Investor contact:Media contact:Juliane SnowdenKathy VincentXOMA Royalty CorporationKV Consulting & Management+1-646-438-9754kathy@kathyvincent.com juliane.snowden@xoma.com
