XTL Biopharmaceuticals Ltd. Publishes Prospectus for Securities Issued Pursuant to the Private Placement Completed in March 200
May 22 2006 - 1:00PM
PR Newswire (US)
NEW YORK, May 22 /PRNewswire-FirstCall/ -- XTL Biopharmaceuticals
Ltd., (NASDAQ:XTLB)(LSE:XTL)(TASE:XTL) ("XTLbio"), a biotechnology
company focused on the acquisition, development and
commercialization of therapeutics for the treatment of infectious
diseases, with a focus on hepatitis C, announced today that it has
published a prospectus with the United Kingdom Listing Authority in
relation to the issuance of 46,666,670 new ordinary shares under
the private placement that was completed in March 2006. A
registration statement on Form F-1 that was filed by XTLbio in
April 2006 is expected to be declared effective by the United
States Securities and Exchange Commission later today. XTLbio
expects that the 46,666,670 new ordinary shares will be listed on
the Official List and be admitted to trading on the London Stock
Exchange's market for listed securities on Thursday, May 25, 2006.
ADR's representing those ordinary shares will begin to trade on
Nasdaq thereafter. About XTL Biopharmaceuticals, Ltd. XTLbio is
engaged in the acquisition, development and commercialization of
therapeutics for the treatment of infectious diseases, with a focus
on hepatitis C. XTL is developing XTL-2125 - a small molecule,
non-nucleoside inhibitor of the hepatitis C virus polymerase -
presently in Phase 1 clinical trials in patients with chronic
hepatitis C. XTL is also developing XTL-6865 - a combination of two
monoclonal antibodies against the hepatitis C virus - presently in
Phase 1 clinical trials in patients with chronic hepatitis C.
XTLbio's hepatitis C pipeline also includes several families of
pre-clinical hepatitis C small molecule inhibitors. In addition,
XTL has out-licensed to Cubist Pharmaceuticals an antibody
therapeutic against hepatitis B, HepeX-B, which has recently
completed a Phase 2b clinical study in hepatitis B liver transplant
patients. XTL is publicly traded on the Nasdaq, London, and
Tel-Aviv Stock Exchanges (NASDAQ:XTLB)(LSE:XTL)(TASE:XTL). This
press release and prior releases are available at
http://www.xtlbio.com/. The information in our website is not
incorporated by reference into this press release and is included
as an inactive textual reference only. XTL Biopharmaceuticals Ltd.
Tel: +972-8-930-4444 Fax: +972-8-930-4445 DATASOURCE: XTL
Biopharmaceuticals Ltd CONTACT: XTL Biopharmaceuticals Ltd. Tel:
+972-8-930-4444 Fax: +972-8-930-4445
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