FRAMINGHAM, MA - Xenetic Biosciences, Inc. (NASDAQ:XBIO), a biopharmaceutical company with a market capitalization of approximately $7 million and showing strong momentum with a 31% gain year-to-date, has announced a collaboration with PeriNess Ltd., an Israeli biotech firm, to advance a development program for a DNase I candidate aimed at treating various cancers. The Clinical Trial Services Agreement focuses on pancreatic carcinoma, colorectal cancer, and other solid tumors. According to InvestingPro analysis, the stock is currently trading near its Fair Value.
Under the agreement, PeriNess will oversee regulatory approval, operational execution, and management of potential exploratory studies in Israel. These studies will evaluate recombinant DNase as an adjunctive treatment in patients receiving chemotherapy and immunotherapy.
James Parslow, Interim CEO and CFO of Xenetic, expressed enthusiasm for the partnership and the potential of their DNase I candidate, XBIO-015, in clinical settings. Michal Ben Attar, CEO of PeriNess, also highlighted the strategic nature of the agreement and its potential to accelerate clinical development.
Preclinical data has underscored the role of Neutrophil Extracellular Traps (NETs) in cancer treatment efficacy, supporting the incorporation of DNase I to improve patient responses. PeriNess has previously demonstrated the utility of DNase I in improving sperm quality and is advancing the drug to Phase 2 clinical trials for male infertility.
Xenetic's DNase I platform is designed to enhance the effectiveness of existing treatments by targeting NETs, which play a role in cancer progression. The company is actively moving its systemic DNase program towards clinical trials as an adjunct therapy for hard-to-treat cancers.
This press release contains forward-looking statements regarding the collaboration's potential to progress towards clinical proof-of-concept studies and the development of the systemic DNase I candidate. However, actual results may vary due to various risks and uncertainties, including unexpected costs, the performance of the DNase platform, and the company's ability to implement its business strategy and secure funding. InvestingPro analysis indicates analysts expect a sales decline this year, with additional insights and 12 more ProTips available to subscribers.
The information reported is based on a press release statement.
In other recent news, Xenetic Biosciences has reported significant changes within its board of directors. The company disclosed that James E. Callaway and Adam Logal, two of its board members, have decided not to stand for re-election. The company clarified that their departures are not due to any disagreements over operations, policies, or practices and their decision will take effect at the upcoming 2024 Annual Meeting of Stockholders.
In addition to these board changes, Xenetic Biosciences has also announced a Materials Transfer Agreement with Tokyo Medical (TASE:PMCN) University. The partnership aims to explore the potential of Xenetic's recombinant DNase I enzyme in treating Ewing sarcoma, a severe pediatric cancer. The research will employ a unique preclinical mouse model, led by Professor Takuro Nakamura, to evaluate the enzyme's effectiveness when used in conjunction with chemotherapy.
Finally, James Parslow, Interim CEO and CFO of Xenetic Biosciences, reaffirmed the company's commitment to the DNase program. The company plans to advance this program into clinical trials as an adjunct therapy for pancreatic carcinoma and other advanced solid tumors. These recent developments underline Xenetic's ongoing efforts to leverage partnerships and broaden their data to enhance existing cancer treatments.
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