Mayer, Brown, Rowe & Maw LLP advises on XTLBIO Fundraising
| News Release - Corporate & Securities, Europe, Israel
| 3 August 2004 - Mayer, Brown, Rowe & Maw LLP has acted as UK and US legal adviser to Code Securities Limited ('Code') and Altium Capital Limited ('Altium') on XTL Biopharmaceuticals Ltd's proposal to raise $17.8 million (£9.8 million) through an Open Offer incorporating a UK Placing, an Israeli Private Placement and a US Private Placement.
Code acted as financial adviser and broker in relation to the UK Placing and the Open Offer, and Altium acted as sponsor to XTL Biopharmaceuticals and underwriter to the UK Placing.
XTL Biopharmaceuticals is an Israel-based biopharmaceutical company developing drugs against hepatitis, and is listed on the Official List. Following the Fundraising, XTL Biopharmaceuticals intends to focus its efforts on its two hepatitis C programmes.
The Mayer, Brown, Rowe & Maw LLP team consisted of corporate partners Stephen Bottomley and Mark Uhrynuk assisted by James Trentham. Jones Day acted for XTL Biopharmaceuticals.
Further information:
Stephen Bottomley
Corporate Partner
+44 (0)20 7782 8825
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