XOMA Enters Agreement to Purchase Generation Bio, Enhancing Royalty Holdings

Acquisition Announcement: XOMA Royalty Corporation has agreed to acquire Generation Bio Co., a clinical-stage company focused on T cell-driven autoimmune diseases, for $4.2913 per share in cash.

Innovative Technology: Generation Bio's lead innovation is a cell-targeted lipid nanoparticle (ctLNP) delivery platform, which is part of a collaboration with Moderna, involving potential development milestones and royalties.

Shareholder Benefits: Generation Bio shareholders will receive a contingent value right (CVR) linked to future milestones and royalties, including a share of net cash exceeding $29 million and proceeds from the Moderna license agreement.

Transaction Timeline: The acquisition, unanimously approved by Generation Bio's Board, is expected to close in February 2026, pending customary conditions, with approximately 15% of shareholders already supporting the tender offer.