Bermuda-based XOMA Ltd has announced that it has moved its corporate domicile to Delaware and changed its name to XOMA Corporation.All of the outstanding common shares of the former XOMA Ltd will be automatically converted into common stock of XOMA Corporation on a one-for-one basis.The antibody therapeutics developer believes that the move will provide legal, administrative and other similar efficiencies, as well as a basis for further efficiencies in the event XOMA simplifies its overall corporate structure.It said that the redomestication will also reduce XOMA’s exposure to the potential consequences of certain types of punitive or potentially adverse tax legislation that have been proposed previously, while the new jurisdiction has a body of law more familiar to its officers, employees, board of directors and many of its shareholders and will reduce the company’s exposure to other potentially adverse or prejudicial actions based on being a non-US company.The change of corporate domicile and name change will not affect the day-to-day business and operations of the organisation.