Business
Xenetic Biosciences, Inc. Reports Third Quarter 2019 Financial Results and Provides Corporate Update
- Company ramps up activities to execute XCART's preclinical and regulatory strategy -- Cash runway expected to fund Company through preclinical advancements
About this update from Xenetic Biosciences, Inc.
[{"type":"text","content":"- Company ramps up activities to execute XCART's preclinical and regulatory strategy -- Cash runway expected to fund Company through preclinical advancements towards IND filing -FRAMINGHAM, MA / ACCESSWIRE / November 15, 2019 / Xenetic Biosciences, Inc. (NASDAQ:XBIO) (\"Xenetic\" or the \"Company\"), a biopharmaceutical company focused on advancing XCART, a personalized chimeric antigen receptor T cell (\"CAR T\") platform technology engineered to target patient-specific tumor neoantigens, announced today its financial results for the quarter ended September 30, 2019 and provided a corporate update.Jeffrey Eisenberg, Chief Executive Officer of Xenetic, commented, \"The third quarter marks a pivotal moment in the evolution of Xenetic to date. Following the acquisition of our proprietary XCART platform technology, we believe we have the potential to truly advance CAR T therapy and ultimately address the significant shortcomings that exist in the treatment of many oncology indications. As we look forward to the remainder of 2019 and into 2020, we continue to build momentum and ramp up our efforts to achieve the corporate, clinical and regulatory milestones that we believe will drive significant value for our shareholders.\"XCART Platform Technology Overview: Designed to develop cell-based therapeutics 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.Highlights:Proximity-based screening platform capable of identifying CAR constructs that can target patient-specific tumor neoantigens, with a demonstrated proof of mechanism in B-cell Non-Hodgkin lymphomas.Believed to have the potential to significantly enhance the safety and efficacy of cell therapy for B-cell lymphomas by generating patient- and tumor-specific CAR T cells.The XCART technology creates the possibility of personalized treatment of lymphomas utilizing a CAR with an antigen-binding domain that should only recognize, and only be recognized by, the unique BCR of a particular patient's B-cell lymphoma.Clinical development program will continue to seek to confirm the early preclinical results, and to demonstrate a more attractive safety profile than existing therapies.Entered into a research agreement to begin the process ...