RNS Number : 3098W
Xenetic Biosciences PLC
27 January 2012
27 January 2012
Xenetic Biosciences plc
('Xenetic' or 'the Company')
Xenetic Biosciences plc (LSE: XEN.L), a bio-pharmaceutical company specialising in the development of high-value differentiated biological and vaccines and novel cancer drugs, announces the appointment to the board of Xenetic of Roman Sergeevich Knyazev (31) as a non-executive director with immediate effect.
Mr Knyazev is a current director of SynBio LLP ("SynBio"), Xenetic's largest shareholder and Russia Nanotechnology (RUSNANO). RUSNANO is the entity that has been tasked by the Russian government with developing a significant domestic biotech industry.
Mr Knyazev does not have a direct shareholding in Xenetic. However, he has an indirect interest in 184,755,238 ordinary shares of 0.5p representing 48.65 per cent of the issued share capital in the Company as a consequence of being a director of SynBio LLC.
Commenting on the appointment, M. Scott Maguire, CEO of Xenetic, said: "I am pleased to be able to welcome Roman to our Board as one of the new non-executive director appointments being made pursuant to the Closing in late-November 2011 of SynBio's equity subscription into the Company, raising some £12.2 million at a Placing Price of 11 pence per share. Roman brings his experience of a Big 4 audit firm background with PriceWaterhouseCoopers prior to his joining Rusnano as a Senior Investment Manager.
In that capacity, he has been instrumental in guiding SynBio through the venture funding process in Moscow and comes to our board not just as a SynBio representative director, but also with the significant financial backing of RUSNANO, a welcome relationship for any developmental-stage biotech company like Xenetic."
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