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XOMA's Management Presents At Morgan Stanley Global Healthcare Conference (Transcript)

Some of those include our lead candidate which is gevokizumab, which is a monoclonal antibody which is an allosteric binder to IL-1 beta, and then some other compounds a little further in the pipeline such as the XMet program which we might discuss a little later also. These are all monoclonal antibodies that bind to allosteric as opposed to orthostatic sites or the non-business end part of the molecule.

The company I think is making a concerted effort to get more value for its assets. So in fact as you are aware, we are developing gevokizumab in conjunction with our partner Servier on a global basis, initially for non-infectious uveitis which is our lead indication and is now in Phase 3 and will be on a worldwide basis. And then for a series of other indications that the development should occur in the next few years and we should get some good data on that product and then hopefully we will have a few other things as we go forward.

Question-and-Answer Session

Yigal Nochomovitz - Morgan Stanley

Got it. It’s a good overview. Maybe we could jump in then on the lead asset, gevokizumab. Give the investors some sense of comparative profile of your IL-1 data agent relative to what else is out there in the world. And I am thinking of things like (inaudible) and so forth.

Paul Rubin

Sure. I think that if you look at all the products that are on the market or in development for modulating IL-1 beta signaling, we are I think unique. We are the only compound, as I mentioned, that binds to a part of IL-1 beta where we can dramatically reduce the signal that occurs from IL-1 beta stimulating its receptors, we still allow interaction of IL-1 beta with its receptor. And what that does it enhances clearance of the molecule and it prevents the existence of circulating antibody like [complexes], which can be detrimental.

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