Business
Xenetic Biosciences, Inc. Reports First Quarter 2020 Financial Results and Provides Corporate Update
- Company poised to execute on near- and long-term value-driving milestones to advance preclinical development of its XCART™ CAR T therapy platform --
About this update from Xenetic Biosciences, Inc.
[{"type":"text","content":"- Company poised to execute on near- and long-term value-driving milestones to advance preclinical development of its XCART™ CAR T therapy platform -- Continuing to progress discussions to secure academic collaborations to advance the XCART platform -- Cash on hand expected to fund operations through mid-2021 -FRAMINGHAM, MA / ACCESSWIRE / May 14, 2020 / Xenetic Biosciences, Inc. (NASDAQ:XBIO) (\"Xenetic\" or the \"Company\"), a biopharmaceutical company focused on advancing XCART™, a personalized CAR T platform technology engineered to target patient- and tumor-specific neoantigens, today reported its financial results for the quarter ended March 31, 2020 and provided a corporate update.\"Over the course of the first quarter, we continued to make encouraging progress towards securing academic collaborations, the next major milestone for us in advancing the XCART platform,\" commented Jeffrey Eisenberg, Chief Executive Officer of Xenetic. \"Additionally, despite the fact that the COVID-19 health pandemic carries on, we have been fortunate to not have experienced any significant operational impacts and have maintained a cash runway expected to fund our projected operational and development efforts through mid-2021. We are excited for the year ahead and to further unlock the value that the XCART technology platform holds.\"XCART Platform Technology Overview: Significantly differentiated, proprietary approach to personalized CAR T therapy for the treatment of multiple tumor types of B-cell Non-Hodgkin lymphomas, an area of significant unmet need, with the potential to address an initial global market opportunity of over $5 billion annually.1 Xenetic believes XCART has the potential to transform CAR T therapy.The Company announced in February 2020 the appointments of Greg MacMichael, Ph.D. and Maksim Mamonkin, Ph.D. to its Scientific Advisory Board, each of whom brings with them extensive knowledge in cell therapy engineering and design, cell therapy manufacturing, and CMC expertise and capabilities. Both Dr. MacMichael and Dr. Mamonkin are actively engaged with the Company to advance the development of the XCART technology platform.Xenetic is actively engaged in ongoing discussions to advance the development of XCART through one or more collaborations with academic or development partners.Expected 2020 MilestonesEnter into academic...