XTL Biopharmaceuticals purchases 4,620,356 shares of Proteologics from Teva

XTL Biopharmaceuticals Ltd. (TASE: XTL) (OTC: XTLBY) (the "Company"), a biopharmaceutical development company, announced on November 21st that it has acquired 4,620,356 shares, of Proteologics Ltd. (TASE: PRTL) (hereinafter: "the Shares" and "Proteologics", respectively), from Teva Pharmaceutical Industries Ltd. (NYSE: TEVA, TASE: TEVA) (hereinafter: "Teva") in consideration for an amount of approximately NIS 6.5 million, which represents an amount of NIS 1.405 per Share (approximately 22% premium). The Shares represent all of Teva's shares in Proteologics and represent approximately 31.35% of Proteologics issued and outstanding share capital.

Proteologics is a biopharmaceutical publically traded company listed on the Tel Aviv Stock Exchange, which is in the business of discovery and research of drugs that are active on various components of the UBIQUITIN system, which was discovered by Drs. Avram Hershko and Aaron Ciechanover - 2004 Nobel Prize in Chemistry laureates for the discovery of the UBIQUITIN system.

Comments

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
Post a new comment
Post

Sign in to keep reading

We're committed to providing free access to quality science. By registering and providing insight into your preferences you're joining a community of over 1m science interested individuals and help us to provide you with insightful content whilst keeping our service free.

or

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

You might also like...
Could autophagy enhancement slow aging and combat Alzheimer's?