Neoprobe makes second major investment in Israel:
This article was originally published in Clinica
Neoprobe (US) is investing in XTL Biopharmaceuticals' (Israel) Trimera human monoclonal technology in what will be its second major deal in Israel (see Clinica No 672, p 15). Neoprobe has bought $1.5 million in XTL convertible debentures, providing it with 15% equity interest in the company with the option of taking a further 10%. It has also issued XTL with 125,000 shares of its common stock in exchange for worldwide licensing rights to its technology. XTL was founded on radiation chimera technology developed at the Weizmann Institute of Science. The company develops fully human monoclonal antibodies and provides a tool to model human diseases.