XOMA to Repay Goldman Sachs Loan in Full

Business of Biotech

XOMA Ltd. (Nasdaq:XOMA) announced a plan to repay its loan with Goldman Sachs Specialty Holdings, Inc. (Goldman Sachs) through a combination of funds. Payment will include proceeds from Genentech’s payment to XOMA for the buyout of its LUCENTIS(R) royalty obligation to XOMA, the sale of common stock and funds from an existing restricted cash account reserved for loan repayment. The repayment plan resolves the uncertainty about the loan that arose from the sudden and unexpected withdrawal of RAPTIVA(R) from the market earlier this year, which triggered XOMA to begin to renegotiate the loan that was secured by royalties from RAPTIVA, LUCENTIS and CIMZIA(R).

Read the release.

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