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Xenetic Biosciences (XEN)

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Friday 27 January, 2012

Xenetic Biosciences

Directorate Change

RNS Number : 3098W
Xenetic Biosciences PLC
27 January 2012
 



27 January 2012

Xenetic Biosciences plc

('Xenetic' or 'the Company')

 

Directorate change

 

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."

 

- Ends -

 

Enquiries:

Xenetic Biosciences plc

+44 (0)20 7389 5015

M. Scott Maguire, Chief Executive Officer




Singer Capital Markets (NOMAD & Broker)

+44 (0)20 3205 7500

Claes Spång




Walbrook PR

+44 (0)20 7933 8780

Paul McManus

paul.mcmanus@walbrookpr.com

Paul Cornelius

paul.cornelius@walbrookir.com

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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