Xoma to get $2.5M from Kuros as Checkmate's acquisition by Regeneron triggers milestone payout
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Kuros Biosciences (OTCPK:CSBTF) said $2.5M of a $5M milestone payment due to Kuros will be paid to Xoma (NASDAQ:XOMA), as Checkmate Pharmaceuticals' acquisition was completed by Regeneron Pharmaceuticals.
In July 2021, Xoma acquired a royalty interest position Kuros held, under a 2015 agreement, in Checkmate's potential cancer therapy vidutolimod (CMP-001).

Kuros said that the completion of the Checkmate acquisition by Regeneron, which was announced on May 31, triggers a $5M milestone payment under the 2015 license agreement between Kuros and Checkmate.
Under the 2021 agreement, Xoma was entitled to receive 50% of the milestone payment paid to Kuros as a result of a change of control of Checkmate.