Xenetic Biosciences, Inc. announced that it expects to receive $0.488835 million in funding from CLS Therapeutics, LLC
October 11, 2022
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Xenetic Biosciences, Inc. announced that it has entered into a security purchase agreement for the issuance of 850,000 shares at a price of $0.5751 per common share for gross proceeds of $488,835 on October 12, 2022. The transaction will include participation from CLS Therapeutics, LLC. The company will issue securities pursuant to exemption provided under Regulation D.
Xenetic Biosciences, Inc. is a biopharmaceutical company. The Company is focused on advancing immune-oncology technologies addressing hard to treat cancers. The Company's DNase platform is designed to improve outcomes of existing treatments, including immunotherapies, by targeting neutrophil extracellular traps (NETs), which are involved in cancer progression. It is focused on advancing the development of its DNase platform toward a first-in-human, multicenter, dose escalation and dose-expansion study of IV rhDNase I in subjects with locally advanced or metastatic solid tumors. Its systemic DNase program is initially targeting multi-billion-dollar indications including pancreatic cancer, which includes pancreatic ductal adenocarcinoma (PDAC), colorectal carcinoma (CRC) and other gastrointestinal cancers. These are all cancer indications with significant unmet need, and with opportunities for substantial improvement of the available therapeutic options.