Business
Xenetic Biosciences, Inc. Reports Second Quarter 2021 Financial Results and Provides Business Update
Continued execution on XCART TM pre-clinical development plan and progress toward IND-enabling studies Strong royalty growth with PolyXen® platform technology
About this update from Xenetic Biosciences, Inc.
[{"type":"text","content":"Continued execution on XCART TM pre-clinical development plan and progress toward IND-enabling studies Strong royalty growth with PolyXen® platform technology Bolstered cash position with recently completed $12.5 million private placement FRAMINGHAM, MA / ACCESSWIRE / August 13, 2021 / 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 second quarter of 2021 and provided a corporate update.\"Over the course of the second quarter, we continued to execute our innovative and differentiated XCART program, and the technical progress we've accomplished brings us closer to the critical milestone of conducting IND-enabling studies in the United States. In light of that progress, we are taking important steps to validate the key workflow and manufacturing components that we believe will maximize the XCART opportunity,\" commented Jeffrey Eisenberg, Chief Executive Officer of Xenetic. \"Additionally, with our recently completed $12.5 million private placement and the royalty growth we have seen through our PolyXen license agreement, I believe we are in a strong position moving forward to maintain optionality and execute on advancing our development program.\"XCART Platform Technology Overview : Significantly differentiated, proprietary approach to personalized CAR T lymphoma therapy targeting tumor-specific neoantigens that target independently of CD19 or other surface antigens that are common to both normal and malignant B-cells. Lead program for Non-Hodgkin lymphoma, an area of significant unmet need, with the potential to address an initial global market opportunity of over $7 billion annually. [1] Program Highlights: Collaboration with Pharmsynthez and multiple academic institutions in Eastern Europe which provides access to methods and materials, including clinical samples, for optimizing the overall XCART workflow.Ongoing research and development collaboration with Scripps Research covering design and implementation of the pre-clinical development program, as well as activities supporting process development for clinical manufacturing.Ongoing exploratory patient biopsy study in Eastern Europe. The work being ...