XOMA Ltd. (Nasdaq:XOMA), a leader in the discovery and development of therapeutic antibodies, announced it has received a $1 million milestone payment from Takeda Pharmaceutical Company Limited (TSE4502:Takeda) for achieving a pre-established preclinical milestone under the companies' 2006 collaboration agreement, which also calls for additional future milestone payments and royalties on product sales.
In the collaboration, XOMA is using its extensive collection of antibody discovery, development and optimization technologies to discover therapeutic antibodies against multiple targets selected by Takeda.
"Our successful collaboration with Takeda is producing promising antibody development candidates," said Steven Engle, XOMA's Chairman and Chief Executive Officer. "This and our other antibody discovery, development and licensing collaborations are important revenue sources for XOMA."
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