On September 25, 2019, Roman Knyazev resigned as a member of the Board of Directors of Xenetic Biosciences, Inc., effective immediately. The resignation did not result from any disagreement with the Company. On September 26, 2019, the Board appointed Grigory G. Borisenko to fill such vacancy to serve as a director of the Company, effective immediately. Mr. Borisenko was not appointed to serve on any committees of the Board upon the commencement of his term as a member of the Board. Grigory G. Borisenko, PhD is the Investment Director of RUSNANO Management Company LLC. Mr. Borisenko has over 20 years of scientific, management and strategic experience in Life science field.