BERKELEY, Calif., May 12, 2008 (PRIME NEWSWIRE) -- XOMA Ltd. (Nasdaq:XOMA), a leader in the discovery and development of antibody therapeutics, announced today that it has entered into an amended loan facility under which it has borrowed $55 million from Goldman Sachs Specialty Lending Group, L.P. (Goldman Sachs). The loan is secured by the royalty revenues the Company receives from sales of RAPTIVA(r), LUCENTIS(r) and CIMZIA(r). Using proceeds from the new five-year loan, the Company paid off the remaining principal, approximately $22.1 million, of its existing royalty-based loan from Goldman Sachs and paid transaction-related fees and expenses. The Company will use the remaining proceeds, approximately $31 million, to support general corporate purposes. XOMA’s cash, cash equivalents and short-term investments totaled $38.6 million at December 31, 2007.
