XOMA Gets Orphan Drug Designation for Pancreatic Cancer Treatment
28 July 2021 - 11:47PM
Dow Jones News
By Chris Wack
XOMA Corp. said its NIS793 in combination with standard of care
chemotherapy has been granted Orphan Drug Designation in pancreatic
cancer by the U.S. Food and Drug Administration.
The company said NIS793 is a potential first in class novel
antibody specific for transforming growth factor beta.
An Orphan Drug Designation grants special status to a drug that
treats a rare disease or condition and provides companies certain
benefits to encourage the continued development of medicines that
bring novel solutions to patients with these severe diseases.
Under the terms of a 2015 agreement between XOMA and Novartis
AG, XOMA has the potential to earn up to $445 million in additional
milestone payments. Upon receipt of regulatory approval to
commercialize NIS793, XOMA will receive tiered royalties on any net
product sales that range from the mid-single digits to the low
double digits.
XOMA shares were up 15% to $38.50 in premarket trading.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
July 28, 2021 09:42 ET (13:42 GMT)
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