---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-121219"
form_type: "8-K"
ticker: null
cik: "0001733294"
company_name: "Generation Bio Co."
filed_at: "2025-12-15T23:59:59+00:00"
generated_at: "2026-05-16T13:14:20.090924+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# XOMA Royalty to acquire Generation Bio for $4.2913/share plus CVR tied to Moderna deal

## Summary
- Cash consideration of $4.2913 per share plus one non-transferable CVR per share; CVR payments from net cash >$29M, lease savings, Moderna milestones/royalties, and ctLNP platform licensing.
- Tender offer expected to close in February 2026; condition requires at least a majority of shares tendered; support agreements cover ~15% of outstanding shares.
- CVR holders receive up to 90% of Moderna collaboration proceeds (years 1-3) and up to 70% of platform licensing proceeds (years 1-2), declining over 10-year period.
- Generation Bio Board unanimously approved; termination fee of $840k payable by Generation Bio under certain circumstances.
- Acquisition provides XOMA Royalty with potential milestone and royalty payments from Generation Bio's existing Moderna collaboration.

## SEC filing metadata
- accession: 0001104659-25-121219
- form_type: 8-K
- cik: 0001733294
- company_name: Generation Bio Co.
- filed_at: 2025-12-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1733294/000110465925121219/0001104659-25-121219-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1733294/000110465925121219/gbio-20251215x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-121219
- JSON: https://secwatch.observer/filing/0001104659-25-121219.json
- Plain text: https://secwatch.observer/filing/0001104659-25-121219.txt

## Key facts
- Material Agreements
  Generation Bio Co. entered into Agreement and Plan of Merger with XOMA Royalty Corporation (Parent) and XRA 7 Corp. (Merger Sub) (effective 2025-12-15).
  - Action: entry
  - Agreement: merger
  - Counterparty: XOMA Royalty Corporation (Parent) and XRA 7 Corp. (Merger Sub)
  - Effective: 2025-12-15
  source text: On December 15, 2025, Generation Bio Co., a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with XOMA Royalty Corporation, a Nevada corporation (“Parent”), and XRA 7 Corp., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub” and together with Parent, the “Buyer Entities”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1733294/000110465925121219/0001104659-25-121219-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.