XOMA Corporation operates as a biotech royalty aggregator, focusing on acquiring and managing a diverse portfolio of royalty interests in various therapeutic assets. The company collaborates with licensees who are responsible for the development, regulatory approval, and commercialization of these assets. XOMA's business model is structured around two main components: advancing fully funded programs and leveraging strategic partnerships. By doing so, XOMA is eligible to receive milestone and royalty payments as the licensees progress through different stages of development and commercialization. The company serves clients in the biotech and pharmaceutical industries, targeting large-cap partners and covering 11 therapeutic categories. XOMA generates revenue primarily through milestone payments and royalties from its portfolio of over 65 assets.

Keywords: biotech, royalty aggregator, therapeutic assets, licensee partnerships, milestone payments, regulatory approval, commercialization, large-cap partners, strategic investments, pharmaceutical.