XTL Biopharmaceuticals lays off 25% of employees as part of plan to focus on hepatitis C programs

By E. Janene Geiss

Philadelphia, Dec. 16 - XTL Biopharmaceuticals Ltd. announced that would reduce its work force by 13 people, or 25%, as part of a plan to refocus the company's resources on development of its lead hepatitis C programs, XTL-6865, currently in a phase 1 clinical trial and XTL-2125, which is about to start a phase 1 clinical trial.

The workforce reduction is limited to employees based in the company's Rehovot, Israel, facility and consists

primarily of early-stage research personnel, according to a company news release.

"This is a significant step in the company's plan to refocus its efforts and resources towards the projects with the

highest potential for near-term success. We believe that the implementation of this program allows the company to become a more attractive opportunity for existing shareholders and potential investors," chairman Michael S. Weiss said in the release.

XTL, based in Rehovot, Israel, is a biopharmaceutical company focused on the acquisition, development and commercialization of pharmaceutical products for the treatment of infectious diseases, particularly the prevention and treatment of hepatitis B and C.

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