Ligand Pharmaceuticals Acquires XOMA Royalty
April 27, 2026
Ligand Pharmaceuticals entered into a definitive agreement to acquire XOMA Royalty for $39.00 per share in cash, valuing the deal at approximately $739 million. The transaction is structured to provide XOMA Royalty stockholders with a contingent value right (CVR) linked to a portion of net proceeds from certain pending litigation, and was expected to close in Q3 2026.
- Buyers
- Ligand Pharmaceuticals Incorporated
- Targets
- XOMA Royalty Corporation
- Sellers
- XOMA Royalty stockholders (including entities affiliated with BVF Partners, referenced for voting agreement)
- Industry
- Biotechnology
- Location
- California, United States
- Transaction Type
- Buyout
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