Business
Xenetic Biosciences, Inc. Reports Full Year 2022 Financial Results and Provides Business Update
- Year marked by transformational strategic license of the DNase oncology platform and shift in focus to treatment of locally advanced or metastatic solid
About this update from Xenetic Biosciences, Inc.
[{"type":"text","content":"- Year marked by transformational strategic license of the DNase oncology platform and shift in focus to treatment of locally advanced or metastatic solid tumors- DNase program progressing towards Phase 1 clinical development- Closed the year with $13.1 million of cash expected to fund operations and drive pipeline developmentFRAMINGHAM, MA / ACCESSWIRE / March 23, 2023 / Xenetic Biosciences, Inc. (NASDAQ:XBIO) (\"Xenetic\" or the \"Company\"), a biopharmaceutical company focused on advancing innovative immune-oncology technologies addressing hard to treat cancers, today reported its financial results for the full year 2022 and provided a business update.\"2022 represented a transformational year for the Company. We expanded our oncology pipeline and bolstered our potential for key inflection points. We have continued to execute on our development plans for the DNase platform and are encouraged by our progress towards creating a near-term clinical development opportunity. We believe that our DNase platform, comprising multiple treatment modalities, has the potential to generate much needed therapies for pancreatic carcinoma and other locally advanced or metastatic solid tumors, and we are excited to unlock the full potential of our assets,\" commented Jeffrey Eisenberg, Chief Executive Officer of Xenetic.DNase Oncology Platform: Targeting Neutrophil Extracellular Traps (\"NETs\") to improve cancer therapies with a focus on advancing systemic DNase program into the clinic as an adjunctive therapy for pancreatic carcinoma and other locally advanced or metastatic solid tumors.Program Highlights:Systemic DNase program initially targeting multi-billion-dollar indications.Advancing toward planned first-in-human study to evaluate DNase combined with immune checkpoint inhibitors or chemotherapy.Notice of allowance received in January 2023 for Canadian patent covering use of DNase enzyme for preventing or ameliorating toxicity associated with chemotherapy.Appointed globally recognized oncology and NETs experts Allan Tsung, MD and Jonathan Spicer, MD, PhD to the Scientific Advisory Board for advancement of the DNase oncology platform.In August 2022, entered into a research and development collaboration agreement with VolitionRX Limited to develop NETs-targeted adoptive cell therapies potentially targeting multiple types of solid cancers.I...