XOMA Licenses BPI To Zephyr Sciences, Inc.

XOMA Ltd. (NASDAQ:XOMA) announced today that it has entered into an exclusive worldwide licensing agreement with Zephyr Sciences, Inc. (Zephyr) for the research, development and commercialization of products related to its bactericidal/permeability-increasing protein (BPI), including its NEUPREX(R) product. The agreement does not cover BPI-derived peptide products. Under the terms of the agreement, XOMA will be entitled to receive license fees totaling up to $11 million and milestone payments totaling up to $62 million, as well as royalties on sales of future products developed and approved under the agreement. The agreement also includes due diligence provisions related to the development of BPI in multiple indications, and Zephyr will fund all future research and development activities. Other financial terms of the license were not disclosed.

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