XOMA Royalty to acquire LAVA Therapeutics for $1.16-$1.24/share plus CVR; LAVA discontinues Phase 1 LAVA-1266 trial

LAVA Therapeutics NV

XOMA to acquire all LAVA shares via tender offer at Base Price $1.16 plus up to $0.08 extra cash and one CVR per share.
LAVA discontinues Phase 1 trial of LAVA-1266 for AML/MDS and initiates program wind-down.
CVR offers potential payments from net cash, LAVA-1266 disposition, and partnered assets (Pfizer, J&J) over 10 years.
Minimum tender condition: at least 80% of shares (can be reduced to 75%); no financing condition.
Transaction expected to close by December 31, 2025; LAVA will become private and delist from Nasdaq.

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