XOMA Names Owen Hughes as Chief Executive Officer and Appoints Jack L. Wyszomierski as Chairman of the Board of Directors
08 1월 2024 - 9:30PM
XOMA Corporation (NASDAQ: XOMA), the biotech royalty aggregator,
announced today the Board of Directors has named Owen Hughes as
Chief Executive Officer and Jack L. Wyszomierski as Chairman of the
Board. Mr. Hughes has served as XOMA’s Executive Chairman and
Interim Chief Executive Officer since January 1, 2023.
“The rest of the Board and I have been impressed with Owen’s
leadership over the past year and his vision to establish XOMA as
the premiere biotech royalty aggregator. I am looking forward
to working closely with Owen and the team to further accelerate the
Company’s growth and maximize value for all XOMA stockholders,”
stated Mr. Wyszomierski.
“I am grateful for the opportunity to lead XOMA as we look to
solidify our position as a leading capital provider to emerging
biotech companies,” stated Mr. Hughes. “Our growing cash
receipts and maturing portfolio reflect the inherent opportunity
for significant inflection points within XOMA’s established royalty
and milestone acquisition strategy. I am committed to
ensuring XOMA stockholders benefit from our disciplined and
effective capital deployment strategy, which today is bolstered by
the largest cash balance in XOMA’s history.”
About Owen HughesOwen Hughes has spent the last
25 years in the healthcare field as both an operator and an
investor. He has served as the Chief Executive Officer of
Sail Bio, Inc., Chief Executive Officer and Co-founder of Cullinan
Oncology, and Chief Business Officer and Head of Corporate
Development at Intarcia Therapeutics, Inc. Prior to his
operational roles, Mr. Hughes served as a Director at Bain Capital,
LP, and Portfolio Manager at Pyramis Global Advisors LLC, a
Fidelity Investments Company. He currently serves as the
Chairman of the Board of Directors of Ikena Oncology, a member of
the Board of Directors for C4 Therapeutics, and previously served
as the Chairman of Radius Health and the Lead Independent Director
of Translate Bio until their sales to Gurnet Point Capital and
Sanofi, respectively. Mr. Hughes holds a B.A. in history from
Dartmouth College.
About Jack WyszomierskiJack Wyszomierski has
been a director of XOMA since August 2010 and Lead Independent
Director since May 2023. From 2004 until his retirement in
2009, Mr. Wyszomierski was Executive Vice President and Chief
Financial Officer of VWR International, LLC, a global laboratory
supply, equipment and distribution business that serves the world's
pharmaceutical and biotechnology companies, as well as industrial
and governmental organizations. At Schering-Plough, a global
health care company which had worldwide sales of over $8 billion in
2004, Mr. Wyszomierski held positions of increasing responsibility
from 1982 to 2004 culminating in his appointment as Executive Vice
President and Chief Financial Officer. Mr. Wyszomierski also
serves on the Board of Directors of Athersys, Inc., Exelixis, Inc.
and SiteOne Landscape Supply, Inc., and previously served on the
Board of Directors of Unigene Laboratories, Inc., from 2012 to
2013. He holds an M.S. in Industrial Administration and a
B.S. in Administration, Management Science and Economics from
Carnegie Mellon University.
About XOMA CorporationXOMA is a biotechnology
royalty aggregator playing a distinctive role in helping biotech
companies achieve their goal of improving human health. XOMA
acquires the potential future economics associated with
pre-commercial and commercial therapeutic candidates that have been
licensed to pharmaceutical or biotechnology companies. When
XOMA acquires the future economics, the seller receives
non-dilutive, non-recourse funding they can use to advance their
internal drug candidate(s) or for general corporate purposes.
The Company has an extensive and growing portfolio with more than
70 assets (asset defined as the right to receive potential future
economics associated with the advancement of an underlying
therapeutic candidate). For more information about the
Company and its portfolio, please visit www.xoma.com.
Forward-Looking Statements/Explanatory
NotesCertain statements contained in this press release
are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, including statements regarding the potential
expansion and accelerated growth of XOMA’s portfolio and the
potential for this portfolio to generate sustained cashflows and
positive returns over time. In some cases, you can identify
such forward-looking statements by terminology such as
“anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,”
“project,” “expect,” “may,” “will”, “would,” “could” or “should,”
the negative of these terms or similar expressions. These
forward-looking statements are not a guarantee
of XOMA’s performance, and you should not place undue
reliance on such statements. These statements are based on
assumptions that may not prove accurate, and actual results could
differ materially from those anticipated due to certain risks
inherent in the biotechnology industry, including those related to
the fact that our product candidates subject to out-license
agreements are still being developed, and our licensees may require
substantial funds to continue development which may not be
available; we do not know whether there will be, or will continue
to be, a viable market for the products in which we have an
ownership or royalty interest; if the therapeutic product
candidates to which we have a royalty interest do not receive
regulatory approval, our third-party licensees will not be able to
market them; and the impact to the global economy as a result of
the COVID-19 pandemic. Other potential risks to XOMA meeting
these expectations are described in more detail in XOMA's most
recent filing on Form 10-K and in other filings with the Securities
and Exchange Commission. Consider such risks carefully when
considering XOMA's prospects. Any forward-looking statement
in this press release represents XOMA's beliefs and assumptions
only as of the date of this press release and should not be relied
upon as representing its views as of any subsequent date.
XOMA disclaims any obligation to update any forward-looking
statement, except as required by applicable law.
EXPLANATORY NOTE: Any references to “portfolio” in this press
release refer strictly to milestone and/or royalty rights
associated with a basket of drug products in development. Any
references to “assets” in this press release refer strictly to
milestone and/or royalty rights associated with individual drug
products in development.
As of the date of this press release, all assets in XOMA’s
milestone and royalty portfolio, except VABYSMO® (faricimab) and
IXINITY® [coagulation factor IX (recombinant)], are investigational
compounds. Efficacy and safety have not been
established. There is no guarantee that any of the
investigational compounds will become commercially available.
XOMA Investor Contact |
XOMA Media Contact |
Juliane Snowden |
Kathy Vincent |
XOMA Corporation |
KV Consulting & Management |
+1 646-438-9754 |
+1 310-403-8951 |
juliane.snowden@xoma.com |
kathy@kathyvincent.com |
XOMA Royalty (NASDAQ:XOMAO)
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