Closes $15.0 Million Underwritten Public Offering and Completes Acquisition of Innovative CAR T Technology Platform :: (XBIO)
Summary
Closes $15.0 Million Underwritten Public Offering and Completes Acquisition of Innovative CAR T Technology Platform • Innovative XCART technology platform designed to target personalized, patient-specific tumor neoantigens has the potential to transform CAR T cell therapy • XCART expected to initially target B-cell lymphomas and has the potential to address multiple tumor types with an initial global market opportunity in Non-Hodgkin Lymphoma of over $5 billion annually FRAMINGHAM, MA / ACCESSWIRE / July 22, 2019 / Xenetic Biosciences, Inc. (NASDAQ: XBIO) (“Xenetic” or the “Company”), a clinical-stage biopharmaceutical company focused on the discovery, research and development of next-generation biologic drugs and novel orphan oncology therapeutics, announced today that it closed its previously announced $15.0 million underwritten public offering. “We believe that the XCART technology platform has the capability to expand the potential of CAR T cell therapy, an area driving new breakthroughs in the treatment of cancer. [1] The XCART technology platform was designed by its originators to utilize an established screening technique to identify peptide ligands that bind specifically to the unique B-cell receptor (“BCR”) on the surface of an individual patient’s malignant tumor cells. Xenetic’s clinical development program will seek to confirm the early preclinical results, and to demonstrate a more attractive safety profile than existing therapies. These statements can be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning, including statements regarding the capability of the XCART technology to expand the potential of CAR T cell therapy; the benefits of the acquisition; the Company’s plans to initially apply the XCART technology to develop cell-based therapeutics for the treatment of B-cell lymphomas; and the Company’s business development activities to explore partnerships utilizing its PolyXen delivery platform.