Xoma has produced fresh evidence of just how hot its technology is. Pfizer has licensed its tech for screening and manufacturing antibody products for $30 million upfront and a schedule of royalties and milestones. Berkeley, CA-based Xoma has already inked a string of licensing pacts with the likes of Merck, Centocor and Alexion and gets royalty checks from Lucentis, which was developed with its bacterial cell expression tech.
"This agreement provides clear validation of XOMA's antibody research," said Xoma CEO Steven Engle. Investors were clearly ready to see it his way, sending shares of Xoma up by 24 percent in early trading.
- see the release
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