Xenetic Biosciences Inc: Rises on blood cancer research deal
19/05/2020 14:25
** Shares of biopharma company XBIO.O rise 31% to $1.14
premarket
** Co enters into a three-year agreement with Scripps
Research, whereby XBIO will pay up to $3 mln to fund
pre-clinical development of XBIO's personalized Chimeric Antigen
Receptor (CAR) T-Cell technology platform, XCART (https://bit.ly/2ZkkSbp)
** XCART platform is being developed to produce
tumor-specific CAR T-cells for certain types of blood cancer
** CAR is a type of treatment in which a patient's T cells —
a type of immune system cell — are changed in the laboratory to
attack cancer cells
** Xenetic will be granted an exclusive license to certain
intellectual property arising from the research program
** XBIO stock fell ~40% YTD, up to last close
(Reporting by Mrinalika Roy in Bengaluru)
((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))