Item 1.01. Entry into a Material Definitive Agreement.

On April 15, 2021, XOMA (US) LLC ("XOMA"), a wholly-owned subsidiary of XOMA Corporation (the "Company"), entered into a contractual arrangement with Affimed N.V. ("Affimed") and affiliated entities (the Agreement"). The Agreement provides for payments to XOMA on potential future commercial sales related to the three innate cell engager (ICE®) molecules and any pre-loaded natural killer (NK) cells containing the ICE® molecules. Additionally, under the Agreement, XOMA is eligible to receive a potential milestone for each program, upon each candidate receiving marketing approval.

The description of the Agreement contained herein does not purport to be complete and is qualified in its entirety by reference to the copy of the Agreement which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the period ending June 30, 2021.

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