M&A · Healthcare · Pharmaceutical Preparations
XOMA Royalty Corp to acquire LAVA Therapeutics NV
Announced Aug 4, 2025 · Closed Nov 13, 2025
Deal value$33M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$1.24 per share
Transaction
- Acquirer
- XOMA Royalty Corp (XOMA)
- Target
- LAVA Therapeutics NV (LVTX)
- Buyer type
- Strategic
- Offer price per share
- $1.24
- Enterprise value
- —
- Status
- Closed Nov 13, 2025
Deal protections
- Break fee (target pays)
- $0.8M · 2.3%
- Reverse fee (buyer pays)
- —
- Go-shop
- —
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Leerink Partners
Sector context · Healthcare
- Comparable deals
- 96 in the prior 24 months
- Premium
- Sector median 67.0%
- EV / Adj. EBITDA
- Sector median 14.5x
- Break fee
- 2.3% vs. 3.4% sector median
Timeline
- AnnouncedAug 4, 2025
- Tender offerAug 15, 2025
- ClosedNov 13, 2025