XOMA Royalty Corporation announced an agreement to acquire Generation Bio for $4.2913 per share in cash and contingent value rights (CVRs) that could deliver further payments tied to cash, lease savings, and proceeds from a license with Moderna and other out‑licenses of Generation Bio’s cell‑targeted lipid nanoparticle (ctLNP) delivery platform. Generation Bio’s board unanimously approved the merger. The deal transfers potential milestone and royalty streams—most notably payments under the Moderna collaboration—into XOMA Royalty’s portfolio while giving XOMA access to ctLNP delivery tech for siRNA and nucleic acid therapies. Closing depends on customary conditions and a tender offer.