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XOMA sells rights to future royalty streams

HealthCare Royalty Partners II LP bought the rights to two of XOMA Corp.'s future royalty streams for $18 million up front, plus additional milestone-related payments totaling $4 million.

XOMA was eligible to receive royalty payments from each of Pfizer Inc. and Dyax Corp. after it licensed its technology to the companies.

HealthCare Royalty will pay $6.5 million in up-front payment for the Pfizer royalty payments and $11.5 million for the rights to the Dyax royalties.

HealthCare Royalty will also pay up to a further $4 million in milestone-related payments for the Pfizer royalty stream.

In other news, XOMA said it will repay $10 million it owes to Hercules Technology Growth Capital Inc. in exchange for releasing the security interest on the royalty agreements.