<SEC-DOCUMENT>0001171843-15-005367.txt : 20151001
<SEC-HEADER>0001171843-15-005367.hdr.sgml : 20151001
<ACCEPTANCE-DATETIME>20151001073116
ACCESSION NUMBER:		0001171843-15-005367
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20150928
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Termination of a Material Definitive Agreement
FILED AS OF DATE:		20151001
DATE AS OF CHANGE:		20151001

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			XOMA Corp
		CENTRAL INDEX KEY:			0000791908
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				942756657
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14710
		FILM NUMBER:		151135287

	BUSINESS ADDRESS:	
		STREET 1:		2910 SEVENTH ST
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94710
		BUSINESS PHONE:		5106441170

	MAIL ADDRESS:	
		STREET 1:		2910 SEVENTH ST
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94710

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	XOMA LTD /DE/
		DATE OF NAME CHANGE:	19990107

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	XOMA CORP /DE/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<FILENAME>gff8k_100115.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font-size: 10pt; margin: 0 0 24pt; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font-size: 10pt; margin: 0 0 24pt; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font-size: 10pt; margin: 0 0 24pt; text-align: center">FORM 8-K<BR>
<BR>
CURRENT REPORT<BR>
<BR>
Pursuant to Section 13 or 15(d) of the<BR>
Securities Exchange Act of 1934<BR>
<BR>
Date of Report (Date of earliest event reported): September 28, 2015</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0; border-bottom: Black 0.75pt solid">XOMA CORPORATION</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0 0 24pt">(Exact name of registrant as specified in its charter)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0; border-bottom: Black 0.75pt solid">Delaware</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0 0 24pt">(State or other jurisdiction of incorporation)</P>

<P STYLE="font-size: 10pt; margin: 0"><U></U></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid; text-align: center">0-14710</TD>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid; text-align: center">52-2154066</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer Identification No.)</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid">2910 Seventh Street, Berkeley, California</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid">94710</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD NOWRAP>(Address of principal executive offices)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(Zip code)</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD NOWRAP>Registrant&rsquo;s telephone number, including area code</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid">(510) 204-7200</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0 0 24pt"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font-size: 10pt; text-align: center; margin: 0">(Former name or former address, if changed since last report)</P>

<P STYLE="font-size: 10pt; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font-size: 10pt; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0">[ &nbsp;] &nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font-size: 10pt; margin: 0">[ &nbsp;] &nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font-size: 10pt; margin: 0">[&nbsp; ] &nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))</P>

<P STYLE="font-size: 10pt; margin: 0 2.4pt 0 0">[&nbsp; ] &nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))</P>

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<TD STYLE="width: 55pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 1.01.</B></FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B></B></FONT>  <FONT STYLE="font-size: 10pt"><B>Entry
into a Material Definitive Agreement</B></FONT></TD>
</TR></TABLE>
<P STYLE="font-size: 10pt; margin: 4.5pt 0 0; background-color: white"></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">Effective September 30, 2015, XOMA Corporation (&ldquo;XOMA&rdquo;) and
Novartis International Pharmaceutical Ltd. (&ldquo;Novartis&rdquo;) entered into license agreement (the &ldquo;License Agreement&rdquo;)
pursuant to which XOMA, acting through its wholly-owned subsidiary XOMA (US) LLC (&ldquo;XOMA US&rdquo;), has granted to Novartis
an exclusive, world-wide, royalty-bearing license to XOMA&rsquo;s anti-transforming growth factor beta (TGF&beta;) antibody program
(the &ldquo;Program&rdquo;).</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">Novartis will have worldwide rights to the Program and will be solely
responsible for the development and commercialization of antibodies and products containing antibodies arising from the Program.
XOMA will transfer certain proprietary know-how, materials and inventory relating to the Program to Novartis.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">Under the License Agreement, XOMA will receive a $37 million upfront
payment. Based on the achievement of pre-specified criteria, XOMA is eligible to receive up to $480 million in development, regulatory
and commercial milestones. XOMA is also eligible to receive royalties on sales of licensed products, which are tiered based on
sales levels and range from a mid-single digit percentage rate to up to a low double-digit percentage rate.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">Novartis&rsquo; obligation to pay development and commercialization milestones
will continue for so long as Novartis is developing or selling products under the License Agreement, subject to the maximum milestone
payment amounts set forth above. Novartis&rsquo; obligation to pay royalties with respect to a particular product and country will
continue for the longer of the date of expiration of the last valid patent claim covering the product in that country, or ten years
from the date of the first commercial sale of the product in that country.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">The License Agreement contains customary termination rights relating
to material breach by either party. Novartis also has a unilateral right to terminate the License Agreement on an antibody-by-antibody
and country-by-country basis or in its entirety on one hundred eighty days&rsquo; notice.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">In connection with the execution of the License Agreement, XOMA US
and Novartis Vaccines and Diagnostics, Inc., formerly known as Chiron Corporation, (&ldquo;NVDI&rdquo;) executed an amendment
to their Amended and Restated Research, Development and Commercialization Agreement dated July 1, 2008, as amended, relating
to anti-CD40 antibodies (the &ldquo;Collaboration Agreement Amendment&rdquo;). Pursuant to the Collaboration Agreement
Amendment, the parties agreed to reduce the royalty rates that XOMA is eligible to receive on sales of Novartis&rsquo;
clinical stage anti-CD40 antibodies. These royalties are tiered based on sales levels and now range from a mid-single digit
percentage rate to up to a low double-digit percentage rate.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">In addition, in connection with the execution of the License Agreement,
XOMA US and Novartis Institutes for BioMedical Research, Inc. (&ldquo;NIBR&rdquo;) executed an amendment to the Secured Note Agreement,
dated May 26, 2005 (the &ldquo;Secured Note Amendment&rdquo;). Pursuant to the Secured Note Amendment, the parties extended the
maturity date to September 30, 2020, eliminated the mandatory prepayment previously required to be made with certain proceeds of
pre-tax profits and royalties, and reduced any then-outstanding principal amount by $7.3 million upon achievement of Development
and Regulatory Milestone No. 2 (as defined in the License Agreement).</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0; background-color: white">The descriptions of the
License Agreement, the Collaboration Agreement Amendment and the Secured Note Amendment contained herein do not purport to be complete
and are qualified in their entirety by reference to such agreements, together with the exhibits thereto, copies of which will be
filed as exhibits to the Company&rsquo;s Quarterly Report on Form 10-Q for the period ending September 30, 2015.</P>

<P STYLE="font-size: 10pt; margin: 0; text-indent: 0.5in"></P>

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<TD STYLE="width: 55pt; text-align: left"><B>Item 1.02</B></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><B> Termination of a Material Definitive Agreement</B></TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; text-indent: 35.75pt; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 35.75pt; margin: 0">On September 28, 2015, Les Laboratoires Servier and Institut de Recherches
Servier (&ldquo;Servier&rdquo;) notified XOMA of its intention to terminate the Amended and Restated Collaboration and License
Agreement, between XOMA Ireland Limited and Servier, dated February 14, 2012, thereafter assigned by XOMA Ireland Limited to XOMA
US, as later amended on November 4, 2014 and January 9, 2015 (the &ldquo;Agreement&rdquo;), and return the gevokizumab rights to
XOMA. Termination of the Agreement will be effective on March 25, 2016. The Agreement was filed as Exhibit 10.60 to XOMA&rsquo;s
annual report on Form 10-K for the period ended December&nbsp;31, 2011, as filed with the Securities and Exchange Commission on
March 14, 2012.</P>

<P STYLE="font-size: 10pt; text-indent: 35.75pt; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 35.75pt; margin: 0">On August 6, 2015, XOMA announced its intention to end its
involvement in the EYEGUARD global Phase 3 program.&nbsp; Servier and XOMA are in the process of closing down the EYEGUARD
clinical sites in an orderly manner such that if any of the data is positive it may be useful in the future.&nbsp; In a note
accompanying their notice, Servier informed XOMA that, &ldquo;Servier has determined that further
development of gevokizumab in the orphan indications that have been explored to date, is no
longer<B><I>&nbsp;</I></B>consistent with our strategic priorities.&rdquo; Servier is in the process of closing its other
studies. XOMA&rsquo;s Phase 3 studies in pyoderma gangrenosum are ongoing, and XOMA now has worldwide rights to
gevokizumab.&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 35.75pt; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0"><B></B></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0"><B>SIGNATURES</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 37.05pt; margin: 0 0 6pt">Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font-size: 10pt; text-indent: 37.05pt; margin: 0 0 6pt">&nbsp;</P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD>Date: October 1, 2015</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">XOMA CORPORATION</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="width: 29%; border-bottom: Black 1pt solid">/s/ Tom Burns</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Tom Burns<BR> Vice President, Finance and<BR> Chief Financial Officer</TD></TR>
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