LEXINGTON, Mass., Feb. 14, 2014 (GLOBE NEWSWIRE) -- Xenetic Biosciences, Inc. (OTCBB:XBIO), a biopharmaceutical company focused on developing next-generation biologic drugs and novel oncology therapeutics, today announced that its common stock has commenced trading under new ticker symbol "XBIO" on the OTC Bulletin Board (OTCBB). Since changing its name in January, the Company has traded on the OTCBB under the ticker symbol "GAIFD."
Scott Maguire, CEO of Xenetic said, "We are pleased with our new ticker, which is more shareholder friendly and better represents Xenetic. This new XBIO ticker, together with our recent announcements regarding the appointment to our Board of Directors of Dr. Tim Coté, the former Director of the U.S. Food and Drug Administration Office of Orphan Products Development, and our recent agreement with Baxter Healthcare SA, which included an upfront $10 million equity investment and $100 million in potential future cash milestones, represent a major step toward making Xenetic a significant drug development player in the U.S. markets."
Xenetic currently has a total of 146,740,691 shares of common stock issued and outstanding, taking into account the Baxter investment in January, which resulted in the issuance of an additional 10,695,187 shares of common stock.
About Xenetic Biosciences
Xenetic Biosciences is a biopharmaceutical company developing next-generation biologic drugs and novel oncology therapeutics. Xenetic's proprietary drug technology platforms include PolyXen® for creating next generation biologic drugs by extending the efficacy, safety and half-life of biologic drugs and OncoHist® for the development of novel oncology drugs focused on orphan indications. Xenetic's lead product candidates include ErepoXen®, an improved, polysialylated form of erythropoietin (EPO) for the treatment of anemia in pre-dialysis patients with chronic kidney disease and OncoHist®, a recombinant human histone H1.3 molecule which Xenetic is developing for the treatment of refractory Acute Myeloid Leukemia (AML). Xenetic is developing a novel series of polysialylated blood coagulation factors through its license agreement with Baxter International Inc. Xenetic is also developing a broad pipeline of clinical candidates for next generation biologics and novel oncology therapeutics in a number of orphan disease indications. For more information, please visit the Company's website at www.xeneticbio.com.
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate" and "intend," among others. These forward-looking statements are based on Xenetic's current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties associated with completing preclinical and clinical trials for our technologies; the early stage of product development; the significant costs to develop our products as all of our products are currently in development, preclinical studies or clinical trials; obtaining additional financing to support our operations and the development of our products; obtaining regulatory approval for our technologies; anticipated timing of regulatory filings and the potential success in gaining regulatory approval and complying with governmental regulations applicable to our business. Xenetic does not undertake an obligation to update or revise any forward-looking statement. The information set forth herein speaks only as of the date hereof.
CONTACT: Xenetic Biosciences, Inc. M. Scott Maguire, Chief Executive Officer +44 (0)20 3021 1500 email@example.com U.S. Contact: Stern Investor Relations Paul Cox 212 362 1200 firstname.lastname@example.org UK/European Contact: Walbrook PR Mike Wort +44 (0)20 7933 8780Source:Xenetic Biosciences, Inc.