On August 20, 2025, Mural Oncology plc (Nasdaq: MURA), a clinical-stage immuno-oncology company (“Mural”), and XOMA Royalty Corporation (Nasdaq: XOMA), a biotechnology royalty aggregator (“XOMA Royalty”), announced that they have entered into an agreement pursuant to which XRA 5 Corp., a newly formed company wholly-owned by XOMA Royalty, has agreed to acquire the entire share capital of Mural for cash. The closing of the transaction is subject to specified closing conditions, including approval by Mural’s shareholders and the sanction of the proposed scheme of arrangement by the High Court of Ireland under the Irish Companies Act. The acquisition is expected to close by the end of 2025. 

WilmerHale is representing Mural in the transaction, with a team led by Stuart Falber, Scott Lunin and Mark Nylen, which included Hilary Baker-Jennings, Sarah Matchett, Jane Cha, Maria Kanevsky and Jaclyn Schofield on corporate and M&A matters, and Amanda Albert, Meredith Brenton, William Caporizzo, Sarah Tegan Hogan, Ben Kelsey, Scott Kilgore, Bruce Manheim, Meghan Walsh, Kim Wethly and Heidi Treiber on equity compensation, tax, employee benefits, intellectual property and regulatory matters.