REHOVOT, Israel, December 16 /PRNewswire-FirstCall/ --
XTL Biopharmaceuticals Ltd. ("XTLbio" or the "Company") (LSE: XTL; NASDAQ: XTLB; TASE: XTL), a biopharmaceutical company developing drugs against hepatitis, today announced that it is implementing an additional step in the Company's business plan
designed to re-focus the Company's resources on the development of its lead hepatitis C programs, XTL-6865, currently in a Phase I clinical trial, and XTL-2125, which is pending the commencement of a Phase I clinical trial.
The main component of the plan is a reduction in overall headcount of 13 employees, or approximately 25 per cent. The workforce reduction is limited to employees based in the Company's Rehovot, Israel facility, and consistsprimarily of early-stage research personnel.
Michael S. Weiss, Chairman, said: "This is a significant step in the Company's plan to re-focus its efforts and resources towards the projects with the highest potential for near-term success. We believe that the implementation of this program allows the Company to become a more attractive
opportunity for existing shareholders and potential investors."
Contacts:
XTLbio
Jonathan Burgin, Chief Financial Officer, Tel: +972-8-930-4440
About XTL Biopharmaceuticals Ltd.
Established in 1993, XTL Biopharmaceuticals Ltd. (LSE: XTL; NASDAQ: XTLB; TASE: XTL) is a biopharmaceutical company engaged in the acquisition, development and commercialization of pharmaceutical products for the treatment of infectious diseases, particularly the prevention and treatment
of hepatitis B and C.
Cautionary Statement
prnewswire.com |
