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18 Apr 2012

XTL Biopharmaceuticals Reveals Plans to Acquire Drug Development Company

XTL Biopharmaceuticals, a public company traded on the Tel Aviv Stock Exchange, has announced that it has signed a non-binding letter of intent to acquire a drug development company.

XTL Biopharmaceuticals Ltd has signed a non-binding letter of intent to acquire an as-yet unnamed drug development company.


The biopharmaceutical development company said in a statement that the companies will attempt to enter into a binding agreement within 14 days, and to complete all prerequisites to the transaction within 90 days.


"Pursuant to the letter, XTL intends to acquire all of the share capital of the target company in consideration for shares of XTL as well as milestone payments throughout the clinical development of the target company's products," it revealed.


The target company is currently developing novel chemical combination therapies based on molecules that ar

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