XTL Biopharma to acquire entire MinoGuard technology

28 March 2011

Israel-based XTL Biopharmaceuticals (TASE: XTL), saw its sales jump 8.6% to 0.504 shekels after announcing on March 24 that, it had entered into a term sheet to acquire the activity of MinoGuard by obtaining an exclusive license to use MinoGuard's entire technology in return for royalties on sales and milestone payments throughout the clinical development process. Further financial terms were not disclosed.

Privately-held biotech firm MinoGuard was founded in 2007 in order to commercialize combination therapies for treating psychotic diseases, focusing on schizophrenia. The transaction is subject, among other things, to due diligence studies, examination of the regulatory track for the continued development of the drug and the approval of the company's board.

Lead compound in Ph IIa

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