Chief Investment Officer, Xoma Royalty
Search every verified Bradley Sitko interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a September 2024 interview at BioFuture 2023, Bradley Sitko, Chief Investment Officer at Xoma Royalty, discussed the company's royalty model and its role in the biotech financing landscape. Sitko explained that Xoma provides capital to biotech companies in exchange for future at-risk payments from existing partnership deals, describing this as a way to "unlock the innovation of tomorrow using the innovation that was created today." He noted that there are over 600 such partnership deals annually, creating a large market for Xoma's services. Sitko stated that Xoma has completed over a dozen royalty deals and built a portfolio of more than 70 assets. Sitko also commented on the broader biotech environment, saying that companies are "forced to reinvent themselves, to think differently, to spend prudently," which he described as "not a bad thing in the long run." He expressed the view that the industry is "closer to the end of the cycle than to the beginning" and predicted that a true turnaround would occur once there is stability in the macro picture within health and life sciences. Sitko characterized Xoma's approach as offering non-dilutive financing at a stage in a company's lifecycle where it "historically hasn't been available."
“For biotech companies where they have an existing partnership in place, they've already created technology licensed it out to someone else to develop it and is expecting to someday in the future receive payments from it like that's capital that's not accessible to them today. So we can provide capital to them today in...”
“There are over 600 partnership deals like this done every year, so that means for us there's a big environment for us to be able to service and provide capital to. We unlock the innovation of tomorrow using the innovation that was created today.”
“Companies are forced to reinvent themselves, to think differently, to spend prudently. That's not a bad thing in the long run, and I think ultimately as we look back, every cycle has ended. So I think we're closer to the end of the cycle than to the beginning.”
“When you look at the blend of both the scientific developments that are happening and the technology that's enabling it, I think we're going to be in for a new era when we can finally look back at this with some fondness.”
“I think until the macro picture clears up, after we have some visibility that we're stable on a macro picture within health and life sciences, then we'll start to see the green shoots of a true turnaround.”
“Non-dilutive financing has taken a long time for the market to understand, and they've understood it in a more mature way like when products are commercial. Now we're bringing to the market something that they haven't seen before, which is non-dilutive financing at a point in their life cycle when it historically hasn'...”
“We've done over a dozen royalty deals and built a portfolio of over 70 assets both from legacy XOMA technology and the new ones that we've acquired.”
This interview features Sara Jane Demy, Demy-Colton and Brad Sitko, XOMA. It followed the panel discussion "Mavericks: ...
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