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Additional Information
Market: AIM
Sector: Pharmaceuticals
EPIC: XEN
Latest Price: 6.00  (0,00%)
52-week High: 11.88
52-week Low: 5.88
Market Cap: 24.47M
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Xenetic Biosciences
www.lipoxen.co.uk

Xenetic Biosciences (formally Lipoxen) is a leading biopharmaceutical company operating from the UK that develops high-value, differentiated pharmaceutical products in the fields of protein drugs, vaccines and anti-cancer drugs. 

The company has developed a range of proprietary patented technologies that are being used to create a new generation of drug and vaccine products with improved performance. Xenetic Biosciences 's technologies include: PolyXen® - Protein drug delivery, ImuXen® - DNA, protein and polysaccharide vaccines and VesicALL® - Anti-cancer drugs using liposomal entrapment.

Full Xenetic Biosciences profile here
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Xenetic Biosciences begins process to close SynBio and SymbioTec deals

26th Oct 2011, 10:51 am by Jon Mainwaring

Biopharmaceuticals firm Xenetic Biosciences (LON:XEN) announced today that it had begun the first closing of its deal with SynBio and acquisition of SymbioTec. The firm said that the first stage had been initiated by the transfer to SynBio 34 million shares formerly held by FDS Pharma.

In August Xenetic struck a deal with SynBio – a Russian drug development company – to raise £12.2 million in exchange for 110.8 milion shares in Xenetic at 11 pence each. It also revealed that it would be buying German firm SymbioTec – a developer of technology that uses highly-alkaline proteins to treat a broad spectrum of cancers.

The transfer of 34 million Xenetic shares to SynBio is a transfer that must be appropriately registered with the relevant authorities in the Russian Federation, the firm said. After completion of the registration process, Rusnano will inject cash funding into SynBio that will enable it to complete its subscription agreement with Xenetic by subscribing for the 110.8 million Xenetic shares.

The target date for the completion of the subscription agreement is now expected to be November 25. However, the firm stressed that achieving this date is dependent on the speed with which the registration process can be effect in Russia.

The acquisition of SymbioTec is intended to occur around the same date, but Xenetic said it had made provision so that it could occur by December 15 at the latest.

“The transactions involved in what is a complex set of deals spell a new beginning for the company as they enable us to implement our strategy of de-risking biotech,” said Scott Maguire, Xenetic’s chief executive officer. “With the new co-development Agreement with SynBio, we will have 12 drug candidates in various stages of development in Russia and India via licenses. The data generated by our partners will give human proof of concept on the drug candidates' merits as a therapy, thus taking a large element of the risk out of drug development and allowing us to decide which drug candidates have a good chance of success before we allocate our newly acquired cash resources to US and European clinical trials.”

 

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