XOMA Royalty Corp. (XOMA) entered a merger agreement on August 4, 2025, to acquire LAVA Therapeutics N.V. (LVTX) in a deal valued at $30.19 million.
XOMA Royalty will acquire LAVA for a base price of $1.16 in cash per share, plus an additional amount of cash of up to $0.08 per share, plus a non-transferable contingent value right (CVR) per share representing the right to receive 75% of the net proceeds related to LAVA’s two partnered assets and 75% of any net proceeds from any out license or sale of LAVA’s unpartnered programs.
The base price of $1.16 per share represents a discount of 18.31% from the stock’s last close.
LAVA Therapeutics is a clinical-stage immuno-oncology company developing bispecific gamma delta T-cell engagers through its Gammabody platform to treat solid tumors and blood cancers, with partnerships including Johnson & Johnson and Pfizer.
XOMA Royalty is a biotechnology royalty aggregator that acquires future economic rights to early- and mid-stage therapeutic candidates licensed to pharma and biotech companies, supporting their development with non-dilutive funding.
LAVA Therapeutics initiated a strategic review process in March. The stock was trading at $0.94 before the company announced its plans.
XOMA Royalty will commence a tender offer by August 15, 2025, to acquire all outstanding shares of LAVA common stock.
The closing of the deal is expected in the fourth quarter of 2025.
Leerink Partners served as financial advisor to LAVA Therapeutics, with legal counsel provided by Cooley and NautaDutilh. XOMA Royalty received legal advice from Gibson, Dunn & Crutcher and Loyens & Loeff.
Further details about the merger can be found on the Deal Metrics page here:
Deal Metrics for the acquisition of LAVA Therapeutics N.V. (LVTX) by XOMA Royalty Corp. (XOMA)
The Deal Metrics page for each merger or acquisition includes:
– A spread history chart of the merger from announcement through eventual completion or failure.
– Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
– News and SEC filings.
– A history of deal updates.
– And much more.
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Editor’s Note: Baranjot Kaur contributed to this article