Xoma and Texas A&M sign deal

Xoma announced on Wednesday that they have established a memorandum of understanding with Texas A&M university system to explore options to co-develop and manufacture antibodies and protein-based therapeutics for human and veterinary applications. The agreement includes plans to build a state-of-the-art biopharmaceutical manufacturing facility in Texas.

The agreement provides Xoma with access to new processes and technologies, additional manufacturing capacity, development facilities, as well as research personnel that could help accelerate the development of innovate technologies, the company said in a statement.

"Through this innovative cross functional endeavor between industry and university, we hope to meet the advanced needs of the biological manufacturing industry for years to come," said Steven Engle, Chairman and CEO of XOMA.

Shares of Xoma rose 4 cents Wednesday, closing at $2.28.

- check out the Xoma release

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