Xenetic Biosciences Announces Board Change
LEXINGTON, Mass., April 21, 2015 (GLOBE NEWSWIRE) -- Xenetic Biosciences, Inc. (OTCBB:XBIO), a biopharmaceutical company focused on developing next-generation biologic drugs and novel oncology therapeutics, announces the resignation of Chairman Mark Leuchtenberger.
CEO of Xenetic Scott Maguire said, “We want to thank Mark for his seasoned board guidance over the last year, helping a previously European company navigate the complex US regulatory environment. Unfortunately the demands of his new CEO position at Chiasma make it impossible to maintain his chairman’s role for Xenetic. I want to thank Mark again for his service the past year and I wish him luck in his new venture.”
The company plans to keep the chair role vacant until a suitable candidate can be found.
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 major shareholder Baxter International Inc. potential worth as much as $100 million plus royalty payments. 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.
Contact: Xenetic Biosciences Inc. M. Scott Maguire, Chief Executive Officer 781-778-7720 j.mccusker@xeneticbio.com UK/European Contact: Walbrook PR Mike Wort +44 (0)20 7933 8780 mike.wort@walbrookpr.com
Released April 21, 2015