XOMA Royalty Announces Closing of Transaction to Acquire Mural Oncology plc
Rhea-AI Summary
XOMA Royalty (Nasdaq: XOMA) announced it has completed the acquisition of Mural Oncology (Nasdaq: MURA) by way of an Irish High Court sanctioned scheme of arrangement.
Mural shareholders received $2.035 cash per share as the consideration. The scheme was sanctioned by the Irish High Court on December 3, 2025 and became effective on December 5, 2025 upon delivery of the court order to the Irish Companies Registration Office.
Prior to trading on December 5, 2025, Mural shares will cease trading on Nasdaq and Mural intends to seek prompt delisting and deregistration under the Securities Exchange Act of 1934.
Positive
- $2.035 cash consideration per Mural share
- Scheme sanctioned by Irish High Court on December 3, 2025
- Acquisition became effective on December 5, 2025
Negative
- All Mural shares will cease trading on Nasdaq before December 5, 2025
- Mural intends to be delisted and deregistered under the U.S. securities laws
Key Figures
Market Reality Check
Peers on Argus
Key biotech peers showed mixed moves pre-news: ATXS up 0.08%, PRTA up 2.36%, ARCT up 3.67%, while ERAS and ZVRA were down 1.22% and 0.40%, indicating stock-specific rather than sector-driven dynamics for XOMA.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 21 | Acquisition closing | Positive | -0.3% | Completed acquisition of LAVA Therapeutics with cash and CVR consideration. |
| Nov 12 | Earnings update | Positive | -2.5% | Reported Q3 and YTD 2025 financial results and portfolio achievements. |
| Oct 17 | Deal amendment | Positive | -4.9% | Improved LAVA tender terms via CVR structure and reduced cash condition. |
| Oct 02 | Tender extension | Neutral | +0.5% | Extended expiration of LAVA tender offer with existing cash plus CVR terms. |
| Sep 22 | Dividend declaration | Positive | +1.3% | Declared quarterly cash dividends on Series A and Series B preferred shares. |
Recent positive corporate and acquisition updates have often seen flat-to-negative next-day moves, suggesting a tendency for muted or contrarian short-term reactions to favorable news.
Over the last few months, XOMA Royalty focused on portfolio-building deals and capital structure actions. It closed the LAVA Therapeutics acquisition on Nov 21, 2025 and previously extended and amended that tender offer in October 2025. Earnings on Nov 12, 2025 highlighted profitability and cash generation, while a Sept 22, 2025 announcement confirmed quarterly preferred dividends. Several of these constructive updates were followed by flat or negative 24-hour moves, framing today’s Mural Oncology closing within an ongoing acquisition-led strategy.
Market Pulse Summary
This announcement finalizes XOMA Royalty’s acquisition of Mural Oncology at $2.035 per share via an Irish court‑sanctioned scheme of arrangement. It follows the earlier agreement announced in August 2025 and adds another royalty‑oriented asset to XOMA’s portfolio alongside recent LAVA and HilleVax transactions. Investors may watch for how these accumulated deals translate into future royalty and milestone receipts and how XOMA manages integration and capital allocation following its active 2025 transaction pace.
Key Terms
scheme of arrangement regulatory
AI-generated analysis. Not financial advice.
EMERYVILLE, Calif., Dec. 05, 2025 (GLOBE NEWSWIRE) -- XOMA Royalty Corporation (“XOMA Royalty”) (Nasdaq: XOMA), the biotech royalty aggregator, today announced it has successfully completed its previously announced acquisition of the entire issued and to be issued share capital of Mural Oncology plc (“Mural”) (Nasdaq: MURA) (the “Acquisition”) pursuant to an Irish High Court sanctioned scheme of arrangement under Chapter 1 of Part 9 of the Companies Act 2014 of Ireland (the “Scheme”). Mural shareholders received
The Acquisition was approved by Mural shareholders at a special meeting of shareholders convened pursuant to section 450(1) of the Irish Companies Act 2014 and an extraordinary general meeting of shareholders held on October 24, 2025.
The Irish High Court sanctioned the Scheme on December 3, 2025. On December 5, 2025, the Scheme and the Acquisition became effective upon delivery of the court order to the Irish Companies Registration Office.
Prior to the opening of trading on December 5, 2025, all of Mural’s shares will cease trading on Nasdaq, and Mural intends promptly to cause such shares to be delisted from Nasdaq and deregistered under the Securities Exchange Act of 1934, as amended.
Advisors
XOMA Royalty was represented by Gibson, Dunn & Crutcher LLP and Mason Hayes & Curran LLP, who acted as U.S. and Irish legal advisors, respectively. Davy Corporate Finance UC acted as financial advisor to XOMA Royalty. Lucid Capital Markets, LLC acted as exclusive financial advisor to Mural, and Wilmer Cutler Pickering Hale and Dorr LLP and Arthur Cox LLP served as U.S. and Irish legal advisor, respectively, to Mural.
About XOMA Royalty Corporation
XOMA Royalty is a biotechnology royalty aggregator playing a distinctive role in helping biotech companies achieve their goal of improving human health. XOMA Royalty acquires the potential future economics associated with pre-commercial and commercial therapeutic candidates that have been licensed to pharmaceutical or biotechnology companies. When XOMA Royalty acquires the future economics, the seller receives non-dilutive, non-recourse funding they can use to advance their internal drug candidate(s) or for general corporate purposes. XOMA Royalty has an extensive and growing portfolio of assets (asset defined as the right to receive potential future economics associated with the advancement of an underlying therapeutic candidate). For more information about XOMA Royalty and its portfolio, please visit www.xoma.com or follow XOMA Royalty Corporation on LinkedIn.
Forward-Looking Statements/Explanatory Notes
Certain statements contained in this press release are forward-looking statements, including statements regarding the payment and timing of payment of the Consideration to former Mural’s shareholders and the ability and timing of delisting of Mural’s shares. In some cases, you can identify such forward-looking statements by terminology such as “intend,” the negative of these terms or similar expressions. These forward-looking statements are not a guarantee of XOMA Royalty’s performance, and you should not place undue reliance on such statements. These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks including a delay in the timing of the payment of the Consideration and delisting of Mural’s shares. Other potential risks to XOMA Royalty meeting these expectations are described in more detail in XOMA Royalty’s most recent filings on Form 10-K and Form 10-Q and in other filings with the Securities and Exchange Commission. Any forward-looking statement in this press release represents XOMA Royalty’s beliefs and assumptions only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. XOMA Royalty disclaims any obligation to update any forward-looking statement, except as required by applicable law.
Statement Required by the Irish Takeover Rules
XOMA Royalty’s board of directors and XRA 5 Corp.’s (“Sub”) board of directors accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of XOMA Royalty’s board of directors and Sub’s board of directors (who have taken all reasonable care to ensure that this is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.
Davy Corporate Finance UC, which is authorized and regulated in Ireland by the Central Bank of Ireland, is acting exclusively for XOMA Royalty and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than XOMA Royalty for providing the protections afforded to clients of Davy Corporate Finance UC or for providing advice in connection with the matters referred to in this announcement.
Disclosure Requirements of the Irish Takeover Rules
Under Rule 8.3(b) of the Irish Takeover Rules, any person who is, or becomes, “interested” (directly or indirectly) in
Under Rule 8.1, all “dealings” in “relevant securities” of Mural by a bidder, or by any party acting in concert with a bidder, must also be disclosed by no later than 12:00 noon (U.S. Eastern Time) on the “business day” following the date of the relevant “dealing”.
If two or more persons co-operate on the basis of an agreement, either express or tacit, either oral or written, to acquire an “interest” in “relevant securities” of Mural, they will be deemed to be a single person for the purpose of Rule 8.3(a) and (b) of the Irish Takeover Rules.
A disclosure table, giving details of the companies in whose “relevant securities” dealing disclosures should be made, can be found on the Irish Takeover Panel’s website at www.irishtakeoverpanel.ie.
“Interests in securities” arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an “interest” by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks in this section are defined in the Irish Takeover Rules, which can also be found on the Irish Takeover Panel’s website.
If you are in any doubt as to whether or not you are required to disclose a “dealing” under Rule 8, please consult the Irish Takeover Panel’s website at www.irishtakeoverpanel.ie or contact the Irish Takeover Panel on telephone number +353 1 678 9020.
EXPLANATORY NOTE: Any references to “portfolio” in this press release refer strictly to milestone and/or royalty rights associated with a basket of drug products in development. Any references to “assets” in this press release refer strictly to milestone and/or royalty rights associated with individual drug products in development.
Publication on a Website
In accordance with Rule 26.1 of the Irish Takeover Rules, a copy of this announcement will be available on XOMA Royalty’s website at https://xoma.com/mosaic no later than 12:00 noon (U.S. Eastern Time) on the business day following publication of this announcement. Neither the content of the website referred to in this announcement nor the content of any other websites accessible from hyperlinks on such website is incorporated into, or forms part of, this announcement.
| XOMA Royalty Investor Contact | XOMA Royalty Media Contact |
| Juliane Snowden | Kathy Vincent |
| XOMA Royalty Corporation | KV Consulting & Management |
| +1 646-438-9754 | kathy@kathyvincent.com |
| juliane.snowden@xoma.com |
FAQ
What price did XOMA (Nasdaq: XOMA) pay for Mural Oncology (Nasdaq: MURA)?
When did XOMA's acquisition of Mural become effective?
Will Mural Oncology (MURA) continue trading on Nasdaq after the XOMA acquisition?
Which court sanctioned the XOMA–Mural scheme and when?
How were Mural shareholders asked to approve the acquisition of Mural by XOMA?
