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XTL Biopharmaceuticals to Acquires MinoGuard Ltd.

March 25, 2011

HERZLIYA, Israel, March 25, 2011 /PRNewswire-FirstCall/ –

– MinoGuard, a Private Biotechnology Company Developing Drugs for Mental
Health Diseases, With its Lead Compound, SAM-101 for the Treatment of
Schizophrenia;

– MinoGuard Successfully Completed a 70 Patient Phase 2a Clinical Trial
in Schizophrenia – use of the Drug Indicated Improvement of the Positive
Symptoms of the Disease as well as Decrease of its Negative Symptoms

XTL announced on March 24, 2011, it entered into a term sheet to acquire
the activity of MinoGuard Ltd. (“MinoGuard”) by obtaining an exclusive
license to use MinoGuard’s entire technology in return for royalties on sales
and milestone payments throughout the clinical development process. MinoGuard
was founded in 2007 in order to commercialize combination therapies for
treating psychotic diseases, focusing on schizophrenia. The transaction is
subject, among other things, to due diligence studies, examination of the
regulatory track for the continued development of the drug and the approval
of the Company’s board.

MinoGuard was founded by Mor research Applications Ltd., Clalit Health
Services technology transfer office, on the basis of a discovery made by
Prof. Yechiel Levkovitz and Dr. Shlomo Mendlovic, heads of departments at the
Shalvata Mental Health Center.

SAM-101, MinoGuard’s leading drug, is based on a combination of existing
anti-psychotic drugs and a recognized medicinal compound.

MinoGuard has successfully completed a phase 2a prospective, randomized,
double-blind, placebo-controlled, clinical trial conducted on about 70
schizophrenics. The trial’s endpoints were met, proving that SAM-101 improves
the positive symptoms of the disease as well as the patients’ cognitive
state, minimizes the negative symptoms (social parameters and patient
cognition) and reduces side effects such as overweight among patients.

Schizophrenia is a severe and chronic (psychotic) mental illness and one
of the most common. It affects the majority of social and mental functions,
mood, perception, thought and cognitive functions according to the United
States National Institute of Mental Health approximately 1.1% of the adult
population in the United States has schizophrenia. According to a research by
Decision Resources, the schizophrenia treatment industry in 2009 amounted to
approximately $ 5.6 billion.

David Grossman, XTL’s CEO mentioned that “The acquisition of MinoGuard
would be in line with the Company’s strategy to focus on late-stage clinical
development drugs and treatments with a known safety profile, which address
large markets with clear unmet clinical needs”. Grossman added “it is our
intention to continue with our strategy to broaden our drug development
pipeline”.

About XTL Biopharmaceuticals, Ltd

XTL Biopharmaceuticals, Ltd., a biopharmaceutical company, focuses on the
acquisition, development, and commercialization of pharmaceutical products.
The Company is focused on developing a drug for the treatment of multiple
myeloma and Hepatitis C. The Company has a unique treatment for multiple
myeloma cancer patients based on EPO, a genetically engineered version of a
natural hormone produced by the kidneys. The drug 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. Additionally, the
Company has an agreement with Presidio Pharmaceuticals, Inc., to develop a
drug for the treatment of Hepatitis C based on the Company’s DOS technology.

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 (Pink Sheets: XTLBY).

For further details, please contact:

XTL Investor Relations, Tel: +972-9-955-7080 or email: ir@xtlbio.com

SOURCE XTL Biopharmaceuticals Ltd


Source: newswire



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