XOMA COMMENTS https://www.ceocfointerviews.com/xomacorporation20.html
CEOCFO: With the addition of some enzyme replacement therapeutic candidates, XOMA further expanded its royalty interest portfolio beyond monoclonal antibodies and small molecules. Why the decision to take the company in this direction and what did you like about the technology? Also, what did you like about Bioasis and their strategic alliance with Chiesi Group?
Mr. Neal: Bioasis is a small biotech company that we identified with an interesting platform technology. They have the technology with the potential to help molecules cross the blood/brain barrier, which would be a very important therapeutic development. When we saw what they were capable of doing, we entered into an arrangement with them that would be mutually beneficial. We provided them with capital today in order to monetize some of the relationships and licenses they secure in the future. For example, Bioasis recently constructed a license arrangement with Chiesi Group, the Italian pharma company, to advance several enzyme replacement therapies. That is a cool validation of the Bioasis platform.
From our perspective these enzyme replacement therapies have attractive features. They have the presence of Chiesi, a well-established pharmaceutical company on the other side of the arrangement. There is a patient benefit that comes from the orphan indications Chiesi is pursuing. What is also attractive is enzyme replacements historically have a higher probability of going from preclinical and early stage clinical data to fully approved commercial products. We like that as it raises the probably of a portfolio impact in the future, in that we can ultimately benefit in terms of milestones and royalties by helping Bioasis continue to develop its technology so that they can attract their next partnerships. There are multiple benefits all the way around.