Xoma to make $1M payment to LadRx after FDA acceptance of arimoclomol NDA

Xoma (XOMA) announced that based upon the FDA’s acceptance of Zevra Therapeutics’ (ZVRA) new drug application, or NDA, for arimoclomol, an orally-delivered, first-in-class therapy for Niemann-Pick disease type C, or NPC, Xoma will make a $1M milestone payment to LadRx. In June 2023, Xoma announced it had paid LadRx a $5M 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 $52.6M, net, in potential milestone payments from Zevra. The transaction also included a mid-single-digit to mid-teens royalty rate on commercial sales of aldoxorubicin depending upon the indication, in addition to potential payments of up to $343M in development and commercial milestones from ImmunityBio.