HilleVax, Inc. and XOMA Royalty Corporation have announced a definitive merger agreement, under which XOMA Royalty will acquire all outstanding shares of HilleVax common stock. The transaction involves a cash payment of $1.95 per share plus a contingent value right. The tender offer to acquire HilleVax shares is expected to commence by August 18, 2025, with the acquisition anticipated to close in September 2025. Approximately 22.9% of HilleVax shareholders, including certain officers, directors, and stockholders, have agreed to support the merger by tendering their shares. The announcement was made by both companies, with Leerink Partners and Latham & Watkins LLP advising HilleVax, and Gibson, Dunn & Crutcher LLP advising XOMA Royalty.