XOMA (XOMA) Acquires Kuros Biosciences' Royalty Interest in Checkmate’s Vidutolimod

XOMA Corporation (NASDAQ: XOMA acquired the royalty interest position Kuros Biosciences holds in Checkmate Pharmaceuticals’ vidutolimod (CMP-001), an advanced-generation Toll-like receptor 9 agonist packaged in a virus-like particle, for $7.0 million upfront plus sales milestones. Vidutolimod is designed to trigger the body’s innate immune system to attack tumors in combination with other therapies. The U.S. Food and Drug Administration has granted Fast Track designation to vidutolimod for the treatment of certain types of metastatic or unresectable melanoma and an Orphan Drug designation for Stages IIb - IV melanoma.

“We were drawn to vidutolimod because of the breadth of Checkmate’s development activities,” said Jim Neal, Chief Executive Officer at XOMA. “Checkmate currently is enrolling patients in a study with anti-PD-1 refractory advanced melanoma in combination with Bristol Myers Squibb’s Opdivo® (nivolumab), a PD-1 blocking antibody, that is designed to serve as a registrational study. Checkmate also is pursuing a Phase 2/3 study in front line melanoma patients in combination with Opdivo and a study in patients with head and neck cancer and is planning a study in three indications in collaboration with Regeneron in non-melanoma skin cancers.”

Under the terms of the agreement, XOMA has acquired all future potential royalties from commercial sales of vidutolimod, which are tiered from high-single to double digits. XOMA could receive up to $25 million in pre-commercial milestones associated with the Kuros/Checkmate license agreement. Kuros will be eligible to receive certain sales milestone payments from XOMA based on net sales of vidutolimod.

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