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XOMA provided an $8 million non-dilutive royalty capital solution to Talphera
XOMA will receive a 15% royalty on all commercial sales and a significant portion of the 75% royalty generated by U.S. Department of Defense purchases
XOMA is entitled to no less than 50% of the potential $116.5 million in milestone payments
EMERYVILLE, Calif., Jan. 18, 2024 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ:XOMA) announced today it has acquired an economic interest in DSUVIA® (sufentanil sublingual tablet) from Talphera, Inc., for $8 million. DSUVIA® was approved in 2018 by the U.S. Food and Drug Administration (FDA) for use in adults in certified medically supervised healthcare settings. In April 2023, Talphera divested DSUVIA® to Alora Pharmaceuticals for an upfront payment, a 15 percent royalty on commercial net sales, a 75 percent royalty on net sales to the U.S. Department of Defense (DoD), and up to $116.5 million in milestone payments.
"The Talphera transaction is consistent with XOMA's business model of acquiring royalty economics that we believe offer attractive and asymmetric risk/reward profiles. DSUVIA® is an important sublingual, single use pain management option addressing moderate-to-severe acute pain when used in actively supervised medical settings. We believe Alora has the resources and expertise to relaunch and successfully commercialize DSUVIA® within its expansive pain management portfolio," stated Brad Sitko, Chief Investment Officer at XOMA. "XOMA was able to structure an attractive, non-dilutive royalty solution as an alternative to traditional financing as Talphera repositions its strategy for future growth."
In April 2020, DSUVIA® received Milestone C approval from the U.S. Department of Defense (DoD) for use in U.S. Army sets, kits, and outfits (SKOs) and was added to the DoD Joint Deployment Formulary in September 2020. Given the convenient sublingual delivery via a single dose applicator and its ability to provide effective pain relief for several hours, DSUVIA® could be an effective tool for use by military medics to treat injured personnel in contested environments.
Under the terms of the agreement, XOMA will receive 100 percent of all royalties and milestones related to DSUVIA® sales until the Company receives $20 million. Thereafter, XOMA fully retains the 15 percent royalty associated with DSUVIA® commercial sales, and the 75 percent royalties generated from DoD purchases will be shared equally between XOMA and Talphera, as will the remaining $116.5 million in potential milestone payments due from Alora Pharmaceuticals.
About DSUVIA (sufentanil sublingual tablet), 30 mcg
DSUVIA® is indicated for use in adults in certified medically supervised healthcare settings, such as hospitals, surgical centers, and emergency departments, for the management of acute pain severe enough to require an opioid analgesic and for which alternative treatments are inadequate. DSUVIA was designed to provide rapid analgesia via a non-invasive route and to eliminate dosing errors associated with intravenous (IV) administration. DSUVIA is a single-strength solid dosage form administered sublingually via a single-dose applicator (SDA) by healthcare professionals. Sufentanil is an opioid analgesic previously only marketed for IV and epidural anesthesia and analgesia. The sufentanil pharmacokinetic profile, when delivered sublingually, avoids the high peak plasma levels and short duration of action observed with IV administration.
For more information, including important safety information and black box warning for DSUVIA, please visit www.DSUVIA.com.
Posted In: XOMA
