ALX Oncology Holdings Inc. (NasdaqGS:ALXO) acquired ScalmiBio Inc from Jaume Pons and others for $41.5 million on October 4, 2021. Under the terms of the share purchase agreement, ALX made an initial payment to the stockholders of ScalmiBio of approximately $4.5 million in cash, net of certain expenses and adjustments. ALX will make an additional payment of $2.0 million in cash at the one-year anniversary of the transaction, subject to certain conditions. In addition, ALX has agreed to pay certain milestones based on the clinical development of the acquired ScalmiBio technology, with a maximum amount of milestones payable equal to $35.0 million in the aggregate. ALX has also agreed to pay a low single digit royalty on net sales of any products developed from the ScalmiBio acquired technology for a defined term, and ALX may exercise a buy-out right of such royalty for a one-time payment on a product-by-product basis. ALX has the option to pay up to 50% of the milestones and 50% of the buy-out right in shares of ALX common stock subject to certain limitations. Jaume Pons owned 31.7% of ScalmiBio and as a result will receive his proportional share of the consideration from ALX. In addition, out of the closing proceeds, Jaume Pons received approximately $87,000 for the repayment of a note and accrued interest that he loaned to ScalmiBio. The transaction has received approval from the board of directors of ALX. ALX Oncology Holdings Inc. (NasdaqGS:ALXO) completed the acquisition of ScalmiBio Inc from Jaume Pons and others on October 4, 2021. Michael E. Coke, Scott T. McCall, Myra A. Sutanto Shen, Jaqueline Tokuda, Rebecca L. Stuart and John Krocak of Wilson Sonsini Goodrich & Rosati, P.C. acted as legal advisor for ALX Oncology in the transaction.