XOMA Royalty Acquired by Ligand Pharmaceuticals | Financial Services M&A Deal

Ligand Pharmaceuticals has agreed to acquire XOMA Royalty, a financial services other business in Florida, for $739 million. Ligand Pharmaceuticals acquisitions expand a biotechnology royalty aggregator platform by adding XOMA Royalty’s royalty portfolio of commercial, clinical, and preclinical assets across multiple therapeutic areas, including ophthalmology, oncology, CNS, and rare diseases. The XOMA Royalty acquisition is structured as a merger acquisition and supports Ligand’s long-term compounding growth strategy by diversifying development stages and modalities while strengthening patient access. The strategic acquisition is expected to be immediately accretive to adjusted EPS, with XOMA Royalty stockholders receiving $39.00 per share in cash plus a contingent value right tied to 75% of certain pending litigation net proceeds.