Add-on Acquisition • Life Science

XOMA Royalty Acquires Generation Bio

On December 15, 2025, XOMA Royalty acquired life science company Generation Bio

Acquisition Context

This is XOMA Royalty’s 7th transaction in the Life Science sector.
This is XOMA Royalty’s 5th transaction in the United States.
This is XOMA Royalty’s 3rd transaction in Massachusetts.

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M&A Deal Summary
Date	December 15, 2025
Target	Generation Bio
Sector	Life Science
Buyer(s)	XOMA Royalty
Deal Type	Add-on Acquisition

Target Company

Generation Bio

Cambridge, Massachusetts, United States

Generation Bio is a biotechnology company a new generation of re-dosable, long-lasting gene therapy on a scale to potentially benefit more families living with a broader range of diseases around the world. Generation Bio was founded in 2016 and is based in Cambridge, Massachusetts.

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Buyer Overview 1

Buyer

XOMA Royalty

Emeryville, California, United States

Category	Company
Sector	Life Science
Employees	13
Revenue	10M USD (2024)

DESCRIPTION

XOMA Royalty is a biotechnology royalty aggregator playing a distinctive role in helping biotech companies achieve their goal of improving human health. XOMA Royalty is based in Emeryville, California.

Deal Context for Buyer	#
Overall	7 of 7
Sector: Life Science	7 of 7
Type: Add-on Acquisition	7 of 7
State: Massachusetts	3 of 3
Country: United States	5 of 5
Year: 2025	5 of 5

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2025-08-20	Mural Oncology Waltham, Massachusetts, United States Mural Oncology is a biotechnology company focused on using its protein engineering platform to develop cytokine-based immunotherapies for the treatment of cancer with the goal of delivering meaningful and clinical benefits to people living with cancer. Mural Oncology is based in Waltham, Massachusetts.	Buy	$36M

DATE

TARGET

DEAL TYPE

VALUE

2025-08-20

Mural Oncology

Waltham, Massachusetts, United States

Mural Oncology is a biotechnology company focused on using its protein engineering platform to develop cytokine-based immunotherapies for the treatment of cancer with the goal of delivering meaningful and clinical benefits to people living with cancer. Mural Oncology is based in Waltham, Massachusetts.

Buy

$36M

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