XOMA Royalty Completes $2.035 Per Share Acquisition of Mural Oncology
核心洞察
XOMA Royalty Corporation (搜索) successfully completed its acquisition of Mural Oncology plc (搜索) on December 5, 2025, following Irish High Court approval of the scheme of arrangement.
Mural shareholders received $2.035 in cash per share as the final consideration, with the Additional Price Per Share determined to be $0.000 under the transaction agreement.
The acquisition was approved by Mural shareholders at meetings held on October 24, 2025, and Mural's shares ceased trading on Nasdaq prior to market opening on December 5, 2025.
XOMA Royalty Corporation (搜索) has successfully completed its acquisition of Mural Oncology plc (搜索), paying shareholders $2.035 in cash per share following approval from the Irish High Court. The transaction, which closed on December 5, 2025, represents a strategic expansion for the biotech royalty aggregator.
Transaction Details and Timeline
The acquisition was executed through an Irish High Court sanctioned scheme of arrangement under Chapter 1 of Part 9 of the Companies Act 2014 of Ireland. The Irish High Court sanctioned the scheme on December 3, 2025, with the transaction becoming effective on December 5, 2025, upon delivery of the court order to the Irish Companies Registration Office.
Under the terms of the transaction agreement announced on August 20, 2025, the Additional Price Per Share was finally determined as $0.000, resulting in the total cash consideration of $2.035 per share. This determination was made in accordance with Clause 2.4 of the Transaction Agreement between XOMA Royalty, its wholly-owned subsidiary XRA 5 Corp (搜索)., and Mural Oncology.
Shareholder Approval and Market Impact
Mural shareholders approved the acquisition at a special meeting convened pursuant to section 450(1) of the Irish Companies Act 2014 and an extraordinary general meeting held on October 24, 2025. Prior to the opening of trading on December 5, 2025, all of Mural's shares ceased trading on Nasdaq, with the company intending to promptly cause delisting from Nasdaq and deregistration under the Securities Exchange Act of 1934.
Strategic Rationale
XOMA Royalty positions itself as a biotechnology royalty aggregator that plays a distinctive role in helping biotech companies achieve their goal of improving human health. The company acquires potential future economics associated with pre-commercial and commercial therapeutic candidates that have been licensed to pharmaceutical or biotechnology companies.
When XOMA Royalty acquires future economics, sellers receive non-dilutive, non-recourse funding they can use to advance their internal drug candidates or for general corporate purposes. The company maintains an extensive and growing portfolio of assets, defined as the right to receive potential future economics associated with the advancement of underlying therapeutic candidates.
Advisory Teams
The transaction involved multiple advisory firms across jurisdictions. XOMA Royalty was represented by Gibson, Dunn & Crutcher LLP (搜索) and Mason Hayes & Curran LLP (搜索) as U.S. and Irish legal advisors, respectively, with Davy Corporate Finance UC (搜索) serving as financial advisor.
Mural Oncology was advised by Lucid Capital Markets, LLC (搜索) as exclusive financial advisor, while Wilmer Cutler Pickering Hale and Dorr LLP (搜索) and Arthur Cox LLP (搜索) served as U.S. and Irish legal advisors, respectively.