In March of 2004, CHIRON and XOMA announced a worldwide, exclusive, multiple product, collaborative agreement to develop and commercialize antibody products for the treatment of cancer. Under the agreement, the companies will jointly research, develop, and commercialize multiple antibody product candidates, sharing development and commercialization expenses, as well as revenues, generally on a 70-30 basis, with XOMA's share being 30 percent.
Financial terms include an initial payment to XOMA of $10.0 million and a loan facility of up to $50.0 million to fund up to 75 percent of XOMA's share of development expenses. CHIRON's profit share is subject to a limited upward adjustment, which in turn may be reduced if XOMA achieves certain milestones or if CHIRON elects to extend the program... |
