Sign up USA
Proactive Investors - Run By Investors For Investors

Xenetic drug development operation to be re-located to Massachusetts

Xenetic Biosciences (LON:XEN) this morning announced it is relocating its drug development operations to Massachusetts.
Xenetic drug development operation to be re-located to Massachusetts

 

Xenetic Biosciences (LON:XEN) this morning announced it is relocating its drug development operations to Massachusetts.

Currently the group, which is working on treatments for rare and orphan diseases, carries out in-house optimisation and pre-clinical work at its own laboratories here in the UK.

The decision to head to one of the world’s preeminent biotechnology hubs follows a March 2011 visit to Britain by a delegation from industry and academia led by state governor Deval Patrick, Xenetic revealed. 

The company will hire up to six employees in Massachusetts before the end of the year and has plans to have increased this to 20 within 12 months of that date.

Chief executive Scott Maguire, a native of Boston, said: "Committing our company's entire drug development operations to Massachusetts is certainly a bold step but is surely one which presents an excellent opportunity to prove ourselves as a leading technology provider in the quest to develop better drug therapies which address areas of unmet need and confer genuine advantage to both patients and providers.  

“We have worked closely with the Patrick Administration as we made this decision, and I have every confidence that the team in Massachusetts will be working with us every step of the way to maximize the likelihood of this being another great success for the Massachusetts supercluster."

Xentic’s three leading drug candidates are PolyXen, which extends the efficacy of biologic drugs, OncoHist, which is a potential breakthrough cancer treatment, and ImuXen, for creating and improving vaccines.

 

Ian_55ae0ddd437b7.jpg


Register here to be notified of future XBIO Company articles
View full XBIO profile View Profile

Xenetic Biosciences Timeline

Newswire
August 18 2016

Related Articles

Blood testing
February 13 2017
Identifying cancer cells early is a key part of combatting the disease, and ANGLE's Parsortix device looks to be developing into a key ally.
shutterstock_216375733.jpg
January 24 2017
At the moment, the healthcare firm M Pharma is a work in progress
The Hydroponics Company: Access latest PPT from Proactive's CEO Sessions
May 18 2017
Dr Andrew Beehag talked medical cannabis products and pathways with investors.
Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use