Xencor sells Ultomiris and Monjuvi royalty rights to OMERS for $215M upfront

Xencor Inc

OMERS pays $192.5M for Ultomiris royalties from July 2023 through end-2025, then annual caps starting in 2026.
OMERS pays $22.5M for Monjuvi royalties until OMERS receives 1.3x purchase price; excess reverts to Xencor.
Xencor eligible for an additional $12M milestone from OMERS if certain Ultomiris sales targets met.
Xencor retains economic upside above annual royalty caps ($35M from 2026-2028, $12M from 2029 onward).
Cash proceeds strengthen balance sheet to fund internal pipeline programs.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Xencor Inc entered into Ultomiris Agreement with OCM Life Sciences Portfolio LP valued at upfront payment of $192.5 million (effective 2023-11-03).

Action: entry
Counterparty: OCM Life Sciences Portfolio LP
Value: upfront payment of $192.5 million
Effective: 2023-11-03

Exact text from the filing

On November 3, 2023, Xencor, Inc. (the “Company”) and OCM Life Sciences Portfolio LP, an investment vehicle of OMERS, one of Canada’s largest defined benefit pension plans (“OMERS”) entered into a royalty purchase agreement (the “Ultomiris Agreement”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Xencor Inc entered into Monjuvi Agreement with OCM Life Sciences Portfolio LP valued at upfront payment of $22.5 million (effective 2023-11-03).

Action: entry
Counterparty: OCM Life Sciences Portfolio LP
Value: upfront payment of $22.5 million
Effective: 2023-11-03

Exact text from the filing

(the “Company”) and OCM Life Sciences Portfolio LP, an investment vehicle of OMERS, one of Canada’s largest defined benefit pension plans (“OMERS”) entered into a royalty purchase agreement (the “Ultomiris Agreement”).

View on SEC.gov

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Xencor Inc filing history →

Source: SEC EDGAR

accession 0001326732-23-000038

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