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| In 1996, Xoma Corporation signed an exclusive license agreement with Genentech, Inc. for the use of its patented CD20 antigen technology. This agreement provided Xoma with upfront cash payments and created royalty rights associated with the use of the patents. Genentech and IDEC Pharmaceuticals now use the technology in Rituxan®, a monoclonal antibody to treat
patients with non-Hodgkin's lymphoma (NHL). The following year, Royalty Pharma purchased the patents and royalty rights from Xoma for an upfront cash payment and began receiving quarterly payments from Genentech.
While this transaction provided Xoma with immediate capital, it assigned the risks inherent in the royalty stream to Royalty Pharma. Xoma was able to reinvest the cash to fund the development of other products and technologies in its pipeline.
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 © Copyright 2005 Royalty Pharma. All Rights Reserved. |
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