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Xoma, Novartis partner for IL-1 beta mAbs and related IP

Xoma Corp. (NASDAQ:XOMA) granted Novartis AG (NYSE:NVS; SIX:NOVN) exclusive, worldwide rights to commercialize IL-1 beta mAb candidate gevokizumab (XOMA 052). The company also granted Novartis a non-exclusive license to IP covering IL-1 beta-targeting antibodies to treat cardiovascular disease and other diseases.

Xoma will receive $16 million up front in the gevokizumab deal. The

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