Notification of Extraordinary General Meetings and Further Changes to Board Composition
August 27 2008 - 6:23PM
PR Newswire (US)
VALLEY COTTAGE, N.Y., Aug. 27 /PRNewswire-FirstCall/ -- XTL
Biopharmaceuticals Ltd. (NASDAQ:XTLB)(TASE:XTL) today announced a
notice convening two Extraordinary General Meetings (the
"Meetings"). The Meetings will take place at the Conference Room at
the Company's Israeli offices at Building 3, Kiryat Weizmann
Science Park, Rehovot, Israel 76100, at 3:00 p.m. Israel time, and
5:30 p.m. Israel time, respectively, on October 2, 2008. At the
first Extraordinary General Meeting it is proposed that: -- Kenneth
J. Zuerblis, Chief Financial Officer of Imclone Systems, Inc.
(NASDAQ:IMCL), be and is hereby appointed as an External Director
of the Company until October 2, 2011; and -- Jennifer L. Good,
President and Chief Executive Officer of Penwest Pharmaceuticals
Co. (NASDAQ:PPCO), be and is hereby appointed as an External
Director of the Company until October 2, 2011. At the second
Extraordinary General Meeting, which will follow the first
Extraordinary General Meeting, it is proposed that the remuneration
items of the directors as detailed in the Notice be approved. The
Notice of the Meetings is available for the public at the US
Securities Exchange Edgar site: http://www.sec.gov/ and at the
Israel Securities Authority's site: http://www.magna.isa.gov.il/ In
addition, Laurence N. Charney has notified the Company of his
resignation from the Board of Directors effective today, August 27,
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).
DATASOURCE: XTL Biopharmaceuticals Ltd. CONTACT: Ron Bentsur of XTL
Biopharmaceuticals Ltd., Chief Executive Officer, +1-845-267-0707
ext. 225 Web site:
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