BioCentury
ARTICLE | Company News

Xenetic Biosciences, Serum Institute of India deal

January 30, 2012 8:00 AM UTC

The companies mutually terminated an amended July 2004 deal. The Serum Institute of India (SIIL) returned rights to Xenetic 14 products under the deal, including a preclinical 13 valent pneumococcal vaccine and StimuXen. Xenetic (formerly Lipoxen plc) said SIIL decided to focus on developing generic vaccines and Xenetic's ErepoXen rather than pursue all novel drug candidates. As part of the termination, SIIL received 9 million new Xenetic shares valued at £686,250 ($1.1 million), based on Xenetic's close of 7.6p on Jan. 16, before the termination was announced. The institute now holds an 11.67% stake in Xenetic. Xenetic will develop an undisclosed number of the returned products after focusing on development of ErepoXen and OncoHist. ...