Xoma Knocks Out $17M Financing

Biopharmaceuticals developer, Xoma Ltd. raised $17.4 million last month through the private sale of approximately 3 million common shares, according to documents filed with the Securities and Exchange Commission.

Sutro & Co. and Arnhold & S. Bleichroder acted as placement agents.

The common shares were bought at $5.75 per share.

Proceeds will be used to fund the continued development of products from its bactericidal/permeability-increasing protein drug development platform.