Core Points - XOMA Royalty Corporation has successfully completed its tender offer to acquire all outstanding shares of Turnstone Biologics Corp for $0.34 per share in cash, plus a contingent value right [1][2] - A total of 17,192,002 shares of Turnstone common stock were validly tendered, representing approximately 74% of the outstanding shares as of the expiration date [2] - Following the tender offer, Turnstone was merged into a subsidiary of XOMA Royalty, making it a wholly owned subsidiary [3] Company Overview - XOMA Royalty Corporation operates as a biotechnology royalty aggregator, assisting biotech companies in improving human health by acquiring future economic rights associated with therapeutic candidates [5] - The company provides non-dilutive, non-recourse funding to sellers, enabling them to advance their drug candidates or for general corporate purposes [5] - XOMA Royalty has a growing portfolio of assets related to the advancement of therapeutic candidates [5]

Core Viewpoint - XOMA Royalty Corporation has entered into a definitive merger agreement to acquire Turnstone Biologics Corp for $0.34 in cash per share plus one non-transferable contingent value right (CVR) [1][3]. Group 1: Merger Agreement Details - The acquisition is unanimously approved by Turnstone's Board of Directors, which believes it is in the best interests of all stockholders [2]. - XOMA Royalty will commence a tender offer by July 11, 2025, to acquire all outstanding shares of Turnstone common stock, with the transaction expected to close in August 2025 [3]. - Approximately 25.2% of Turnstone stockholders have signed support agreements to tender their shares in the Offer [3]. Group 2: Company Profiles - XOMA Royalty is a biotechnology royalty aggregator that helps biotech companies by acquiring potential future economics associated with therapeutic candidates [5]. - Turnstone Biologics focuses on developing a differentiated approach to treat solid tumors through selected tumor-infiltrating lymphocyte therapy [6].