XTLB XTL Biopharmaceuticals Ltd

VALLEY COTTAGE, N.Y., Aug. 14 /PRNewswire-FirstCall/ -- XTL Biopharmaceuticals Ltd. (NASDAQ:XTLB)(TASE:XTL) today announced that Samuel H. Rudman, Esq., has been appointed to XTL's Board of Directors, effective as of August 13, 2008. Mr. Rudman, 40, is a named partner at a U.S. law firm specializing in complex litigation, emphasizing securities, consumer, insurance, healthcare, human rights, employment discrimination and antitrust class actions. Mr. Rudman's practice is focused primarily on the area of securities and shareholder litigation, and complex issues of disclosure and corporate governance. Mr. Rudman graduated with a BA in political science from Binghamton University and with a JD from Brooklyn Law School. Ron Bentsur, Chief Executive Officer of XTL, commented "We are excited to have Sam join our Board of Directors. Sam is well-versed in matters related to corporate governance. We believe that his skills provide a valuable addition to XTL's Board, as we prepare for the next stage of the company's growth following what we hope will be a successful completion of our Phase 2b study of Bicifadine in Q4 2008." ABOUT XTL BIOPHARMACEUTICALS LTD. XTL Biopharmaceuticals Ltd. ("XTL") is engaged in the development of therapeutics for the treatment of diabetic neuropathic pain and HCV. XTL is developing Bicifadine, a serotonin and norepinephrine reuptake inhibitor, for the treatment of diabetic neuropathic pain, which is currently in a Phase 2b study. XTL has out-licensed its novel pre-clinical HCV small molecule inhibitor program. XTL also has an active in-licensing and acquisition program designed to identify and acquire additional drug candidates. XTL is publicly traded on the NASDAQ and Tel-Aviv Stock Exchanges (NASDAQ:XTLB)(TASE:XTL). Cautionary Statement Some of the statements included in this press release, particularly those anticipating future clinical and business prospects for our clinical compound for neuropathic pain, Bicifadine, growth and operating strategies and similar matters, may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Among the factors that could cause our actual results to differ materially is our ability to complete in a timely and cost effective manner clinical trials on Bicifadine, which could directly impact our ability to continue to fund our operations; our ability to meet anticipated development timelines for all of our drug candidates due to recruitment, clinical trial results, manufacturing capabilities or other factors; our ability to obtain regulatory approvals for commercial sale of our products; the success of our drug development and marketing arrangements with third parties; and other risk factors identified from time to time in our reports filed with the Securities and Exchange Commission, including our annual report on Form 20-F filed with the Securities and Exchange Commission on March 27, 2008. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not intend to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at http://www.xtlbio.com/. The information in our website is not incorporated by reference into this press release and is included as an inactive textual reference only. DATASOURCE: XTL Biopharmaceuticals Ltd. CONTACT: Ron Bentsur, Chief Executive Officer, XTL Biopharmaceuticals Ltd., +1-845-267-0707 ext. 225 Web site: http://www.xtlbio.com/

Copyright