BIOTECHNOLOGY VALUE FUND L P → XOMA Royalty Corp

Item 4 is hereby amended to add the following: On July 14, 2026, the Issuer consummated the Merger with Ligand Pharmaceuticals Incorporated ("Parent") in accordance with the terms of that certain Agreement and Plan of Merger, dated April 27, 2026, as amended by Amendment No. 1 to the Agreement and Plan of Merger on May 16, 2026 (as amended, the "Merger Agreement"). Pursuant to the Merger Agreement, Flex Merger Sub, Inc., a wholly owned subsidiary of Parent merged with and into XOMA Royalty Holdings Corporation ("HoldCo") (the "Merger"), with HoldCo surviving the Merger as a wholly owned subsidiary of Parent and the Issuer effected the Holding Company Reorganization (as defined in the Merger Agreement) and the Merger. Pursuant to the Merger Agreement and various other transactions, each Share was automatically converted into the right to receive (i) $39.00 per Share in cash, plus (ii) an amount of contingent value rights representing a right to receive potential cash payments. Accordingly, the Reporting Persons ceased to beneficially own any securities of the Issuer.