XOMA Corporation (NASDAQ: XOMA) announces it has entered an agreement to acquire Kinnate Biopharma Inc. (NASDAQ: KNTE) for (i) a base cash price of $2.3352 per share (the Base Price) and (ii) an additional cash amount of not more than $0.2527 per share (together with the Base Price, the Cash Amount) at the closing of the merger plus a non-transferable contingent value right (CVR), representing the right to receive 85% of the net proceeds from any out license or sale of the Kinnate programs effected within one year of closing of the merger or 100% of the net proceeds from any out license or sale executed prior to the closing. Kinnate Biopharma Inc. is a clinical-stage precision oncology company founded with a mission to inspire hope in those battling cancer by expanding on the promise of targeted therapies.
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Source: https://www.globenewswire.com/news-release/2024/02/16/2830729/7281/en/XOMA-Enters-into-Agreement-to-Acquire-Kinnate-Biopharma-for-Between-2-3352-and-2-5879-in-Cash-Per-Share-Plus-a-Contingent-Value-Right.html