Ligand Pharmaceuticals and XOMA Royalty Corporation announced that they have entered into a definitive agreement under which Ligand will acquire XOMA Royalty for 39 dollars per share in cash, representing a total equity value of approximately $739M. Both companies operate as biotechnology royalty aggregators.
Ligand stated that the transaction will expand its royalty portfolio to more than 200 assets and add seven marketed products. With the acquisition, Ligand will add more than 120 commercial, clinical, and preclinical-stage programs spanning multiple therapeutic areas and modalities, including 14 late-stage development programs. The combined portfolio will include royalty interests linked to products such as Roche’s VABYSMO (faricimab-svoa), Day One Biopharmaceuticals’ OJEMDA (tovorafenib), and Zevra Therapeutics’ MIPLYFFA (arimoclomol), along with Takeda-partnered assets including mezagitamab, osavampator, volixibat and OHB-607.
Under the merger agreement, Ligand will fund the cash consideration using existing cash on hand and borrowings under its current credit facility. The companies expect the transaction to close in the third quarter of 2026, subject to customary closing conditions, including approval by XOMA Royalty stockholders and regulatory clearances.
Subscribe to our e-Newsletters
Stay up to date with the latest news, articles, and events. Plus, get special offers
from American Pharmaceutical Review – all delivered right to your inbox!
Sign up now!