Following the Acquisition of the Controlling Stake by XTL, Proteologics Appoints Board Members and Chairman
HERZLIYA, Israel, December 5, 2012 /PRNewswire/ –
XTL Biopharmaceuticals Ltd (TASE: XTL) (OTC: XTLBY) (the “Company”, or “XTL”), a
biopharmaceutical development company that recently acquired the controlling stake of
Proteologics Ltd (TASE: PRTL) announces that Mr. David Grossman, Chief Executive Officer
of XTL and Mr. Efri Argaman, were appointed as members of the board of directors of
Proteologics. Furthermore, the Board of Directors of Proteologics appointed Mr. Efri
Argaman Chairman of the Board of Directors, with immediate effect.
About XTL Biopharmaceuticals, Ltd. (“XTL”)
XTL Biopharmaceuticals, Ltd., a biopharmaceutical company, focuses on the acquisition,
development, and commercialization of pharmaceutical products for the treatment of
clinical unmet needs. XTL is focused on late stage clinical development of drugs for the
treatment of multiple myeloma, schizophrenia, and hepatitis C.
XTL’s lead drug candidate, rHuEPO, for the treatment of multiple myeloma blood cancer,
was granted an orphan drug designation from the FDA. rHuEPO has been approved for
marketing by the FDA and has for many years been sold for billions of dollars across the
world for the treatment of severe anemia.
XTL holds the controlling stake in Proteologics Ltd. (TASE: PRTL), a drug discovery
company, and InterCure Ltd. (TASE: INCR), a company which has disrupted the $42 billion
hypertension industry with the world’s first FDA-cleared, OTC blood pressure treatment
device, RESPeRATE(R) (http://www.resperate.com).
XTL is a public company traded on the Tel Aviv Stock Exchange (TASE: XTL) and its ADRs
are quoted in the US on the Pink Sheets (OTC: XTLBY). XTL shares are included in the
following indices: Tel-Aviv MidCap-50, Tel-Aviv Biomed, Tel-Aviv MidCap, and Tel-Aviv
About Proteologics, Ltd. (“Proteologics”)
Proteologics is a biopharmaceutical company exploiting the Ubiquitin Proteasome System
(UPS) for the discovery and development of novel therapeutics. The UPS is a major
component of biological regulation, underlying a wide array of cellular pathways. Drs.
Avram Hershko and Aharon Ciechanover, 2004 Nobel Prize laureates for the discovery of the
ubiquitin system, the founders of Proteologics, lead its scientific advisory board.
Proteologics’ recognized competencies have been built through a number of internal
programs and partnerships, including strategic R&D collaborations with GlaxoSmithKline
(GSK) and Teva Pharmaceuticals. Proteologics was founded in 1999 and is a public company
traded on the Tel-Aviv Stock Exchange. Shareholders include GSK, XTL Biopharmaceuticals
and leading Israeli venture capital funds.
Contact: Investor Relations, XTL Biopharmaceuticals Ltd. Tel: +972-9-955-7080, Email: firstname.lastname@example.org, Web: http://www.xtlbio.com
SOURCE XTL Biopharmaceuticals Ltd