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Xenetic closes SymbioTec buy after hitch

This article was originally published in Scrip

Executive Summary

Xenetic Biosciences, a company in which Russian investors have a large stake, has closed its acquisition of German firm SymbioTec, leading to a 10% uptick in its share price to 8.4 pence by midday trading on 17 January. The UK firm, formerly known as Lipoxen, had aimed to close the deal by the end of December, but admitted in mid-December that this would not be possible because of legal wrangling (scripintelligence.com, 15 December 2011).

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