Norton Rose Fulbright advises Novartis on license, development and commercialization deal with XOMA Corporation

Business October 2015

A Norton Rose Fulbright life sciences transactions team recently advised client Novartis on a license, development and commercialization deal with XOMA Corporation. In the transaction, Novartis acquired the global rights to California-based XOMA’s anti-transforming growth factor-beta (TGFb) antibody program.

XOMA will receive $37 million in the form of an upfront payment in this transaction. In addition, XOMA is eligible to receive up to $480 million if all development, regulatory and commercial milestones are met, and Xoma is eligible to receive royalties on product sales.

New York partner Andres Liivak led the Norton Rose Fulbright team on the matter for this global healthcare client, with associate Joseph Keillor providing assistance. Partner Mara Rogers, also based in the New York office, advised the team on all debt matters related to the deal.