Xoma to Make $1 Million Milestone Payment to LadRx After FDA Accepts Zevra Application for Arimoclomol
12 1월 2024 - 6:50AM
Dow Jones News
By Denny Jacob
Xoma will make a $1 million milestone payment to LadRx following
the U.S. Food and Drug Administration's acceptance of Zevra
Therapeutics' new drug application for arimoclomol.
"We, together with the NPC community, support Zevra's efforts to
secure marketing approval for arimoclomol in the U.S. and the EU,"
said Xoma Chief Executive Brad Sitko.
The biotech royalty aggregator in June paid LadRx a $5 million
upfront payment plus a share of future event-based milestones to
acquire a mid-single digit royalty on arimoclomol's commercial
sales and up to $52.6 million in potential milestone payments from
Zevra, among other aspects.
Arimoclomol is a therapy for Niemann-Pick disease type C, a
genetic disorder characterized by an ability of the body to
transport cholesterol and other lipids inside of cells.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 11, 2024 16:35 ET (21:35 GMT)
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