HERZLIYA, Israel, December 9, 2010 /PRNewswire-FirstCall/ -- XTL Biopharmaceuticals Ltd. (TASE: XTL) (OTC: XTLBY.PK), a biopharmaceutical company, today announced it has been notified by the Tel Aviv Stock Exchange (TASE) that XTL will be included in the following TASE Indexes; "Yeter" Tel Aviv, "Tel Tech", and "Biomed", effective December 15, 2010.
TASE shall conduct a "special trading" in XTL's shares at the end of trading on December 14, 2010.
"We are very pleased that our shares will be included in these three indexes," said David Grossman, CEO of XTL, "This will better position XTL in the capital markets."
About XTL Biopharmaceuticals
XTL is engaged in the development of therapeutics to treat diseases for which no medical cure has yet been discovered. The Company is focused on developing a drug for the treatment of multiple myeloma and Hepatitis C. The Company has acquired Bio-Gal, which developed a unique treatment for multiple myeloma cancer patients based on human recombinant erythropoietin (EPO), a genetically engineered version of a natural hormone produced by the kidneys. The drug has been approved for marketing by the FDA and has for many years been sold for billions of dollars across the world for the treatment of severe anemia. The Company has commenced its preparations for a phase 2 clinical trial. Additionally, the Company has an agreement with Presidio Pharmaceuticals, Inc., an American biotechnology company, to develop a drug for the treatment of Hepatitis C based on the Company's DOS technology. Pursuant to the agreement, XTL is entitled to payments and royalties based on certain milestones and sales.
XTL is a public company traded on the Tel Aviv Stock Exchange (TASE: XTL) and its ADRs are quoted in the US on the Pink Sheets (Pink Sheets: XTLBY).
Some of the statements included in this press release, particularly those anticipating clinical and business prospects for our clinical compound for multiple myeloma, recombinant erythropoietin, 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 commence, complete and obtain positive trial results, in a timely and cost effective manner clinical trials on recombinant erythropoietin, which could directly impact our ability to raise the funding necessary for our future 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 Israel Securities Authority (ISA), the Securities and Exchange Commission (SEC), including our annual reports and additional information filed on ISA on March 24, 2010 and our Form 20-F filed with the SEC on June 30, 2010. 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.
For more information, please contact XTL Investor Relations at Tel: +972-9-955-7080 or email: [email protected].
SOURCE XTL Biopharmaceuticals Ltd