RAANANA, Israel, March 9, 2016 /PRNewswire/ --
XTL Biopharmaceuticals Ltd. (NASDAQ: XTLB, TASE:
XTLB.TA) ("XTL" or the "Company"), a
clinical-stage biopharmaceutical company developing its lead
product for the treatment of lupus, today announced the appointment
of Dr. Daphna Paran, an internal
medicine and rheumatology specialist, as Medical Director.
"Dr. Paran has significant experience in the treatment of lupus
patients, has published extensively on the subject, and has been
involved in several clinical studies in the search for viable
treatment options for this difficult disease," said Josh Levine, CEO of XTL. "We are excited to
welcome her aboard as our Medical Director as we enter the next
phase of developing our lead drug candidate hCDR1 for the treatment
of systemic lupus erythematosus (SLE). Having received encouraging
feedback from the U.S. Food and Drug Administration on our proposed
clinical trial, we are now completing the Phase II protocol design
with Dr. Paran's guidance and anticipate initiating the trial in
the second half of 2016."
Dr. Paran has over 20 years of rheumatology expertise with a
focus on lupus. She is a senior lecturer at Tel Aviv University, the head of the lupus clinic,
head of the rheumatology day care unit and the deputy head of the
Department of Rheumatology at the Tel Aviv Medical Center (Ichilov
Hospital). She completed her medical studies at Ben Gurion University, trained in lupus and the
antiphospholipid syndrome at the lupus unit, Rayne Institute, St.
Thomas' Hospital in London and has
published or co-authored over 60 articles in the field of lupus and
rheumatology.
"I am privileged to join the team as Medical Director of XTL to
lend my experience to the advancement of what I believe to be a
very promising lupus drug candidate," stated Dr. Paran. "hCDR1
showed very promising data in the prior Phase 2b trial. If we are
able to duplicate these results utilizing well defined primary
endpoints in our next clinical study we could have a promising
solution to a largely unmet medical need. I and the rest of the
medical community in this field are eagerly waiting to learn the
efficacy of this drug in the upcoming trial."
About hCDR1
hCDR1 is a novel compound with a unique mechanism of action and
has clinical data on over 400 patients in three clinical studies.
The drug has a favorable safety profile, is well tolerated by
patients and has demonstrated efficacy in at least one clinically
meaningful endpoint. For more information please see a peer
reviewed article in Lupus Science and Medicine journal (full
article).
About Systemic Lupus Erythematosus (SLE)
Lupus is a chronic autoimmune disease involving many systems in
the human body, including joints, kidneys, central nervous system,
heart, hematological system and others. The biologic basis of the
disease is a defect in the immune (defense) system, leading to
production of self (auto) antibodies, attacking the normal organs
and causing irreversible damage. According to the Lupus Foundation
of America, at least 1.5 million Americans have the disease (more
than 5 million worldwide) with more than 16,000 new cases diagnosed
each year. The majority of patients are women of childbearing
years. There has been only one drug approved by the FDA in the last
50 years and recently two of the few drugs in advanced development
did not meet their primary endpoints in Phase 3 trials.
About XTL Biopharmaceuticals Ltd. (XTL)
XTL Biopharmaceuticals Ltd., is a clinical-stage biotech
company focused on the development of pharmaceutical products for
the treatment of autoimmune diseases including lupus. The Company's
lead drug candidate, hCDR1, is a world-class clinical asset for the
treatment of systemic lupus erythematosus (SLE). There currently is
no effective treatment on the market for SLE. hCDR1 has robust
clinical data in three clinical trials with 400 patients and over
200 preclinical studies with data published in more than 40
peer reviewed scientific journals. Based on encouraging safety and
efficacy data shown in a completed Phase 2 study, the Company
expects to initiate a Phase 2 trial in 2016.
XTL is traded on the Nasdaq Capital Market (NASDAQ: XTLB)
and the Tel Aviv Stock Exchange (TASE: XTLB.TA). XTL shares are
included in the following indices: Tel-Aviv Biomed, Tel-Aviv
MidCap, and Tel-Aviv Tech Index.
Cautionary Statement
This press release may contain forward-looking statements, about
XTL's expectations, beliefs or intentions regarding, among other
things, its product development efforts, business, financial
condition, results of operations, strategies or prospects. In
addition, from time to time, XTL or its representatives have made
or may make forward-looking statements, orally or in writing.
Forward-looking statements can be identified by the use of
forward-looking words such as "believe," "expect," "intend,"
"plan," "may," "should" or "anticipate" or their negatives or other
variations of these words or other comparable words or by the fact
that these statements do not relate strictly to historical or
current matters. These forward-looking statements may be included
in, but are not limited to, various filings made by XTL with the
U.S. Securities and Exchange Commission, press releases or oral
statements made by or with the approval of one of XTL's authorized
executive officers. Forward-looking statements relate to
anticipated or expected events, activities, trends or results as of
the date they are made. Because forward-looking statements relate
to matters that have not yet occurred, these statements are
inherently subject to risks and uncertainties that could cause
XTL's actual results to differ materially from any future results
expressed or implied by the forward-looking statements. Many
factors could cause XTL's actual activities or results to differ
materially from the activities and results anticipated in such
forward-looking statements, including, but not limited to, the
factors summarized in XTL's filings with the SEC and in its
periodic filings with the TASE. In addition, XTL operates in
an industry sector where securities values are highly volatile and
may be influenced by economic and other factors beyond its control.
XTL does not undertake any obligation to publicly update
these forward-looking statements, whether as a result of new
information, future events or otherwise. Please see the risk
factors associated with an investment in our ADSs or ordinary
shares which are included in our Registration Statement on Form F-1
as filed with the U.S. Securities and Exchange Commission on
December 31, 2015.
For further information, please
contact :
Investor Relations, XTL Biopharmaceuticals Ltd.
Tel: +972-9-955-7080
Email: ir@xtlbio.com
http://www.xtlbio.com
SOURCE XTL Biopharmaceuticals Ltd