XOMA to buy Kinnate; A pain biotech’s small IPO

Plus, news about Blue­print Med­i­cines, So­sei Group and Pox­el:

XO­MA to buy Kin­nate Bio­phar­ma: The biotech roy­al­ty ag­gre­ga­tor said it would pay $2.33 per share in cash for the clin­i­cal-stage on­col­o­gy com­pa­ny. An ad­di­tion­al 25 cents per share could be added, as well as rights for Kin­nate share­hold­ers to re­ceive pro­ceeds if XO­MA of­floads as­sets. Kin­nate’s shares $KNTE were up about 10% in pre­mar­ket trad­ing on Fri­day. Last Sep­tem­ber, Kin­nate laid off most em­ploy­ees, re­duced its pipeline and was “sep­a­rat­ing” from all staffers at its Chi­nese sub­sidiary. — Kyle LaHu­cik

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