Xenetic Biosciences rises on licensing agreement
27/04/2022 13:08
** Shares of Xenetic Biosciences XBIO.O rise 14.2% to
$1.04 premarket after agreement with CLS Therapeutics
** Per deal, XBIO receives an exclusive license to develop
and commercialize pharmaceutical products using a
Deoxyribonuclease enzyme for use in cancer treatment
** XBIO will be solely responsible to develop, obtain
marketing approval and commercialize sub-licensed products in
U.S. and certain European markets
** CLS receives $500,000 and 500,000 shares of XBIO's common
stock, and is entitled to receive up to $13,000,000 in cash in
potential milestone payments as well as tiered royalties
** Stock down ~29% YTD
(Reporting by Mrinalika Roy in Bengaluru)
((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))