XTL Biopharmaceuticals Announces Appointment of Laurence N. Charney to Board of Directors
May 28 2008 - 7:35AM
PR Newswire (US)
VALLEY COTTAGE, N.Y., May 28 /PRNewswire-FirstCall/ -- XTL
Biopharmaceuticals Ltd. (NASDAQ:XTLB)(TASE:XTL) today announced
that Laurence N. Charney, CPA, has been appointed to XTL's Board of
Directors. The appointment, effective immediately, increases the
size of XTL's Board to six members. Mr. Charney, 61, recently
retired from his position as a Partner of Ernst & Young LLP, an
international assurance, tax, transaction and advisory services
firm, having served that firm for over thirty-five years. At Ernst
& Young, Mr. Charney most recently served as the Americas Area
Director of Conflict Management. In that role he had oversight and
responsibility in ensuring compliance with global and local
conflict of interest policies for client and engagement acceptance
across all service lines. Mr. Charney previously served as an audit
partner where his global practice focused on the media and
entertainment, telecom and software industries servicing public and
private companies in addressing their transactional, regulatory,
corporate governance, Sarbanes-Oxley, tax and accounting
challenges. Since July 2007, he has served on the Audit Committee
and Board of Directors of Marvel Entertainment, Inc. (NYSE:MVL). In
June 2007, he completed a term as the Chairman of the Audit
Committee of UJA - Federation of New York. Mr. Charney graduated
with a BBA degree from Hofstra University and completed the
Executive MBA in Business program at Columbia University. Ron
Bentsur, Chief Executive Officer of XTL, commented "We are excited
to have Larry join our Board of Directors. Through his many years
of experience in public accounting, Larry is well-versed in matters
related to SEC and Sarbanes-Oxley compliance. We believe that his
skills provide a valuable addition to XTL's Board, as we prepare
for the next stage of the company's growth following what we hope
will be a successful completion of our Phase 2b study of Bicifadine
in Q4 2008." ABOUT XTL BIOPHARMACEUTICALS LTD. XTL
Biopharmaceuticals Ltd. ("XTL") is engaged in the development of
therapeutics for the treatment of diabetic neuropathic pain and
HCV. XTL is developing Bicifadine, a serotonin and norepinephrine
reuptake inhibitor, for the treatment of diabetic neuropathic pain,
which is currently in a Phase 2b study. XTL has out-licensed its
novel pre-clinical HCV small molecule inhibitor program. XTL also
has an active in-licensing and acquisition program designed to
identify and acquire additional drug candidates. XTL is publicly
traded on the NASDAQ and Tel-Aviv Stock Exchanges
(NASDAQ:XTLB)(TASE:XTL). Cautionary Statement Some of the
statements included in this press release, particularly those
anticipating future clinical and business prospects for our
clinical compound for neuropathic pain, Bicifadine, growth and
operating strategies and similar matters, may be forward-looking
statements that involve a number of risks and uncertainties. For
those statements, we claim the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. Among the factors that could cause
our actual results to differ materially is our ability to complete
in a timely and cost effective manner clinical trials on
Bicifadine, which could directly impact our ability to continue to
fund our operations; our ability to meet anticipated development
timelines for all of our drug candidates due to recruitment,
clinical trial results, manufacturing capabilities or other
factors; the success of our drug development and marketing
arrangements with third parties; and other risk factors identified
from time to time in our reports filed with the Securities and
Exchange Commission, including our annual report on Form 20-F filed
with the Securities and Exchange Commission on March 27, 2008. Any
forward-looking statements set forth in this press release speak
only as of the date of this press release. We do not intend to
update any of these forward-looking statements to reflect events or
circumstances that occur after the date hereof. 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. DATASOURCE: XTL Biopharmaceuticals Ltd. CONTACT: Ron Bentsur,
Chief Executive Officer, XTL Biopharmaceuticals Ltd.,
+1-(845)-267-0707 ext. 225 Web site: http://www.xtlbio.com/
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