08:53 AM EST, 12/02/2024 (MT Newswires) -- XOMA Royalty ( XOMA ) said Monday it acquired Pulmokine for $20 million in cash.

The acquisition adds seralutinib, Pulmokine's drug candidate for pulmonary arterial hypertension, to XOMA's portfolio, according to the company.

XOMA said it will pay success-based consideration in the future to Pulmokine shareholders.

Net royalties will range from the low to mid-single digits on commercial sales, and XOMA will retain up to $25 million of the milestone payments, XOMA added.