Exarafenib

Kinnate Stockholders to Receive $2.5879 Per Share in Cash Plus Contingent Value RightEMERYVILLE, Calif., April 03, 2024 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ: XOMA) (“XOMA” or the “Company”), a biotechnology royalty aggregator playing a distinctive role in helping biotech companies achieve their goal of improving human health, today announced the Company has successfully completed its previously announced tender offer to acquire all outstanding shares of Kinnate Biopharma Inc. (NASDAQ: KNTE) common stock for a price per share of $2.5879 in cash (the “Cash Amount”), plus one non-tradeable contingent value right (“CVR” and together with the Cash Amount, the “Offer Price”) representing the right to receive 85% of the net proceeds from any out license or sale of Kinnate programs effected within one year of closing of the merger and 100% of the net proceeds resulting from Kinnate’s sale of exarafenib and other pan-RAF program assets to Pierre Fabre Laboratories, as announced on March 1, 2024. The tender offer and related withdrawal rights expired one minute after 11:59 p.m. Eastern Time on Tuesday, April 2, 2024 (the “Expiration Date”). As of the Expiration Date, a total of 38,258,681 shares of Kinnate common stock were validly tendered, and not validly withdrawn, representing approximately 81% of the outstanding shares of Kinnate common stock as of the Expiration Date. As of the Expiration Date, the number of shares validly tendered in accordance with the terms of the tender offer and not validly withdrawn satisfied the minimum tender condition, and all other conditions to the tender offer were satisfied or waived. Immediately after the Expiration Date, XOMA irrevocably accepted for payment all shares validly tendered and not validly withdrawn and expects to promptly pay for such shares. Following the closing of the tender offer, XOMA merged Kinnate with and into a subsidiary, XRA 1 Corp. (the “Merger”), and all shares of Kinnate common stock that had not been validly tendered were converted into the right to receive the Offer Price. As a result of the Merger, Kinnate became a wholly owned subsidiary of XOMA. Prior to the opening of trading on The Nasdaq Stock Market LLC (“Nasdaq”) on April 3, 2024, all shares of Kinnate common stock will cease trading on Nasdaq, and Kinnate intends promptly to cause such shares to be delisted from Nasdaq and deregistered under the Securities Exchange Act of 1934, as amended. Advisors XOMA was represented by Gibson, Dunn & Crutcher LLP. Leerink Partners acted as lead financial advisor and Wilson Sonsini Goodrich & Rosati acted as legal counsel to Kinnate. Lazard also acted as a financial advisor to Kinnate. About XOMA Corporation XOMA is a biotechnology royalty aggregator playing a distinctive role in helping biotech companies achieve their goal of improving human health. XOMA acquires the potential future economics associated with pre-commercial therapeutic candidates that have been licensed to pharmaceutical or biotechnology companies. When XOMA 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 milestone and royalty 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. 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. About Kinnate Biopharma Inc. Kinnate Biopharma Inc. is a clinical-stage precision oncology company founded with a mission to inspire hope in those battling cancer by expanding on the promise of targeted therapies. Kinnate concentrates its efforts on addressing known oncogenic drivers for which there are currently no approved targeted therapies and to overcome the limitations associated with existing cancer therapies, such as non-responsiveness or the development of acquired and intrinsic resistance. Forward-Looking Statements/Explanatory NotesCertain statements contained in this press release are forward-looking statements, including statements regarding the payment and timing of payment of the Offer Price to former Kinnate common stockholders and the ability and timing of delisting of Kinnate’s common stock. In some cases, you can identify such forward-looking statements by terminology such as “anticipate,” “approximately,” “expect,” “may,” “will,” “could” or “should,” the negative of these terms or similar expressions. These forward-looking statements are not a guarantee of XOMA’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 including the risk that XOMA does not achieve anticipated net cash after winding down Kinnate’s operations and concluding remaining clinical trial activities, the risk that XOMA is unable to develop or otherwise enter into dispositions related to the Kinnate programs, and risks that the timing of the payment or delisting may be delayed. Other potential risks to XOMA meeting these expectations are described in more detail in XOMA's most recent filing on Form 10-K and in other filings with the Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov. Any forward-looking statement in this press release represents XOMA'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 disclaims any obligation to update any forward-looking statement, except as required by applicable law. XOMA Investor ContactXOMA Media ContactJuliane SnowdenKathy VincentXOMA CorporationKV Consulting & Management+1 646-438-9754+1 310-403-8951juliane.snowden@xoma.comkathy@kathyvincent.com

Kinnate 已与皮尔法伯就 Exarafenib 和其他泛 RAF 项目资产的全球权利签订资产购买协议 （" APA" ）。 该交易旨在推进 Kinnate 此前宣布的战略备选方案。 此次收购意在进一步强化皮尔法伯在精准肿瘤学领域的努力，并有机会惠及更多需要靶向治疗的 RAF 和 RAS 实体瘤患者。 旧金山、圣地亚哥和法国卡斯特尔 2024年4月2日 /美通社/ -- 临床 阶段精准肿瘤学公司 Kinnate 生物制药公司（纳斯达克股票代码：KNTE）（以下简称"Kinnate"或"该公司"）与全球领先的肿瘤学公司——皮尔法伯集团 近日 宣布，双方同意签订资产购买协议。根据协议，Kinnate同意向皮尔法伯出售该公司在研的泛 RAF 抑制剂 Exarafenib 和其他泛 RAF 项目资产。此次全球权利出售是为了进一步推进Kinnate先前宣布的战略备选方案方面的探索。 Kinnate 首席执行官 Nima Farzan 表示："我们很高兴能与皮尔法伯合作，他们在 RAF 和 RAS 驱动实体瘤靶向治疗的全球开发和商业化方面拥有丰富的专业知识。将 Exarafenib 和我们的泛 RAF 项目资产出售给皮尔法伯将扩大这些项目在全球的影响范围，使 NRAS 驱动黑色素瘤和 BRAF 驱动实体瘤靶向治疗有望得到进一步发展，有助实现我们对此类肿瘤患者的承诺。" 皮尔法伯制药研发负责人 Francesco Hofmann 则表示："根据迄今为止获得的临床和临床前数据，我们认为 Exarafenib 作为一种靶向实体瘤（如 NRAS 突变型黑色素瘤）的泛 RAF 抑制剂，有望实现同类最佳的产品特性。目前尚无针对该类型黑色素瘤的泛 RAF 抑制剂获得批准。从 Kinnate 公司收购的 Exarafenib 和其他泛 RAF 计划资产是对我们现有的 BRAF 和 MEK 抑制剂组合以及 Encorafenib、Binimetinib 的补充。此次收购将继续推进我们在精准肿瘤学领域的努力，并为我们提供了机会惠及更多有 RAF 和 RAS 实体瘤治疗需求的患者。" 根据 APA 条款，皮尔法伯已购买 Exarafenib 和其他泛 RAF 资产，并将承担与这些资产相关的全部进行中项目和成本。Kinnate 将获得高达 3100 万美元的总对价，其中包括交割时的 50 万美元以及一笔 3050 万美元的付款，付款条件为： Exarafenib 或任何其他收购资产的首次关键试验中首位患者给药；或根据FDA 加速审批计划申请加速审批 Exarafenib 或任何其他所收购资产；或为 Exarafenib 或任何其他收购资产提交上市申请以获得监管批准，上述条件以较早发生者为准。此外，皮尔法伯将为所转让的资产承担高达 500 万美元的应付账款。该交易不受交割条件的约束，并已于签署时交割。 根据之前宣布的 Kinnate 与 XOMA Corporation（"XOMA"）交易内容，假设 XOMA 的拟议交易依据CVR 协议完成交割，且自该交割日起五年内收到收益，则Kinnate 股东将获得（扣除拟议 XOMA 交易（"CVR 协议"）将签订的《或有价值权协议》中约定的适用成本、费用、税款或其他扣款后的）100%净收益，该收益应从 3050 万美元的或有付款中支付。50 万美元的交割付款中仅包含交易费用，不会产生净收益。 Lazard 担任 Kinnate 公司的财务顾问，Wilson Sonsini Goodrich & Rosati 担任法律顾问。 关于 Kinnate 生物制药公司 Kinnate 生物制药公司是一家临床阶段精准肿瘤学公司，其成立的使命是通过扩大靶向治疗的前景，为那些与癌症作斗争的人们带来希望。该公司致力于解决目前尚无获批靶向疗法的已知致癌突变，克服现有癌症治疗方案存在的局限性，例如无免疫应答、获得性耐药性和固有耐药性。 Exarafenib 是一种在研的泛 RAF 抑制剂，主要针对携带 BRAF 和 NRAS 基因驱动的癌症，是该公司的主要候选药品之一。该公司的另一个主力药品是一种在研中的 FGFR 抑制剂 KIN-3248，专门用于治疗携带 FGFR2 和 FGFR3 突变的癌症。该公司还拥有尚处于初期的项目，如针对耐药变异的 c-MET 抑制剂和一个具备脑渗透性及 CDK4 选择性的药物项目。欲了解更多信息，请访问 Kinnate.com 并关注其LinkedIn主页，了解其最新举措。 关于皮尔法伯 皮尔法伯是法国领先的制药与化妆品企业，在肿瘤学领域拥有40年的创新、开发、制造和商业化经验。该公司2022年约80%的研发支出用于肿瘤学，并将靶向疗法确定为其主要研发重点。其目前的肿瘤学商业产品组合涵盖结直肠癌、乳腺癌、肺癌、黑色素瘤、血液学疾病和癌前皮肤病（如光化性角化病）。 2022年，皮尔法伯营业额达27亿欧元，其中69%来自于在120个国家、地区的国际销售。自1962年创立以来，该集团总部位于法国西南部，超过90%的产品在法国境内生产，全球范围内拥有约9600名员工。该公司86%的股份由政府认可的公益基金会皮尔法伯基金会持有，其次通过国际员工持股计划由其自有员工持有。皮尔法伯的可持续发展政策经独立的AFNOR认证机构评估，达到了其企业社会责任（CSR）标签的"典范"水平（ISO 26 000可持续发展标准）。 如需了解更多有关皮尔法伯的信息，请访问 www.pierre-fabre.com @PierreFabre 。 其他重要信息及信息查找途径 为配合对 Kinnate 的拟议收购，XOMA 或其关联公司将根据截至 2024 年 2 月 16 日 的《合并协议和计划》（"合并协议"）条款，启动针对 Kinnate 全部已发行股票的要约收购（"要约"）。Kinnate、XOMA 和 XRA 1 Corp. 为该协议的订约方 。 XRA 1 Corp为特拉华州企业，同时也是 XOMA 的全资子公司。要约尚未启动，且此通讯既非建议，亦非购买要约或出售公司任何流通股或其他任何证券的要约邀请。在要约启动之日，XOMA 及其收购子公司将向美国证券交易委员会（"SEC"）提交一份有关收购要约表的要约声明，其中包含购买要约、转文函及相关文件。公司亦将向 SEC 提交一份附表 14D-9 的征求意见/建议声明。购买公司流通股的要约收购仅能根据作为收购要约表一部分提交的购买要约、转文函及相关文件进行。 投资者和证券持有人务必阅读要约材料（包括购买要约、转文函及相关文件）和有关要约的附表 14D-9 征求意见 / 建议声明，因为这些材料包含要约条款和条件等重要信息，投资者和证券持有人在就要约做出任何决定之前应作考虑，且这些材料可能会随时进行修订或补充。 投资者和证券持有人可以在美国证券交易委员会（SEC）的网站 www.sec.gov 上获取这些声明（如有），以及其他提交给 SEC 的文件的免费副本，或将此类请求提交至要约声明中指定的要约信息代理。投资者和证券持有人还可以免费获取公司提交或提供给 SEC 的文件。文件可在公司网站 https://investors.kinnate.com/ "Financial Information （财务信息）栏的 "SEC Filings（SEC 文件）" 子栏目中找到。 关于前瞻性陈述的警示性说明 本通讯包含前瞻性陈述，包括但不限于以下内容：该交易对皮尔法伯未来活动的未来影响；公司首席执行官和皮尔法伯医疗保健研发主管的陈述；公司根据 APA 收到的对价；皮尔法伯根据 APA 需承担的负债；公司对CRV协议的信念、期望及声明；根据 APA 和 CVR 协议，可能向公司股东支付的收益（如有），包括 APA 协议下 Exarafenib 或任何其他泛 RAF 资产相关的任何净收益或或有付款。这些陈述可以通过前瞻性术语的使用进行识别，包括但不限于"预期"、"相信"、"继续"、"可以"、"估计"、"期望"、"目标"、"打算" 、"可能"、"有可能"、"计划"、"潜力"、"预测"、"项目"、"应该"、"目标"、"将"和"会"，以及其他类似的、用于识别前瞻性陈述的词语和表达。前瞻性陈述既不是历史事实，也不是对未来业绩的保证，且涉及风险和不确定性。这些风险和不确定性可能导致实际结果与此类前瞻性陈述所预测、明示或暗示的结果存在重大差异。这些风险和不确定性包括但不限于：合并协议中规定的各种成交条件可能无法得到满足或豁免的可能性，包括公司股东在要约中出售其股份百分比的不确定性；提出竞争要约的可能性；公司保留关键人员的能力；要约、合并子公司与公司的合并以及合并协议和 CVR 协议设想的其他交易（统称为"交易"）可能无法及时完成或根本无法完成的风险，这可能对公司业务及其流通股价格产生不利影响；与拟议交易相关的重大成本；与交易相关的任何股东诉讼可能导致高昂的辩护、赔偿和责任费用的风险；与 CVR 协议相关的活动可能不会给公司股东带来任何价值的风险；以及公司向 SEC 提交的最新年报、季报以及公司随后向 SEC 提交的文件中讨论的其他风险和不确定性。由于这些风险和不确定性，公司的实际结果可能会与本文中讨论或暗示的未来结果、业绩或成就有重大差异，无法保证拟议的交易实际上会达成。公司提醒投资者不要过度依赖任何前瞻性声明。 本通讯中包含的前瞻性陈述是在本新闻稿发布之日做出的，除非受法律明确要求，否则公司不承担就未来事件、新信息或其他情况更新任何前瞻性陈述的义务。本文件中的所有前瞻性陈述均受此警告性声明的约束。