Leading the Way in Life Science Technologies

GEN Exclusives

More »

GEN News Highlights

More »
Mar 19, 2009

XTL Obtains Rights to Use Bio-GAL's Recombinant Erythropoietin as a Myeloma Treatment

XTL Obtains Rights to Use Bio-GAL's Recombinant Erythropoietin as a Myeloma Treatment

XTL enters asset purchase agreement with Bio-GAL

  • XTL Biopharmaceuticals entered into an asset purchase agreement with Bio-GAL for the rights to a use patent on the recombinant erythropoietin, rHuEPO, to develop a treatment for multiple myeloma. XTL will issue ordinary shares just under 50% of the current issued and outstanding share capital of the company.

    Bio-GAL will receive a milestone payment of $10 million upon the successful completion of a Phase II trial and 1% in royalties on net sales of the product. XTL's board of directors reserves the right to issue additional ordinary shares to Bio-GAL in lieu of the milestone payment.

    The transaction is expected to close in the second or third quarter. Erythropoietin is used as a therapeutic agent in kidney disease and cancer-related anemia. It is produced by recombinant DNA technology in mammalian cell culture.



Related content

Be sure to take the GEN Poll

Cancer vs. Zika: What Worries You Most?

While Zika continues to garner a lot of news coverage, a Mayo Clinic survey reveals that Americans believe the country’s most significant healthcare challenge is cancer. Compared to other diseases, does the possibility of developing cancer worry you the most?

More »