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August 13 , 2021 Xenetic BIOSCIENCES Xenetic Biosciences , Inc. Reports Second Quarter 2021 Financial Results and Provides Business Update • Continued execution on XCART TM pre - clinical development plan and progress toward IND - enabling studies • Strong royalty growth with PolyXenⓇ platform technology • Bolstered cash position with recently completed $ 12.5 million private placement FRAMINGHAM , MA / ACCESSWIRE / August 13 , 2021 / Xenetic Biosciences , Inc. ( NASDAQ : XBIO ) ( " Xenetic " or the " Company " ) , a biopharmaceutical company focused on advancing XCART ™ , a personalized CAR T platform technology engineered to target patient- and tumor - specific neoantigens , today reported its financial results for the second quarter of 2021 and provided a corporate update . Xenetic BIOSCIENCES " Over the course of the second quarter , we continued to execute our innovative and differentiated XCART program , and the technical progress we've accomplished brings us closer to the critical milestone of conducting IND - enabling studies in the United States . In light of that progress , we are taking important steps to validate the key workflow and manufacturing components that we believe will maximize the XCART opportunity , " commented Jeffrey Eisenberg , Chief Executive Officer of Xenetic . " Additionally , with our recently completed $ 12.5 million private placement and the royalty growth we have seen through our PolyXen license agreement , I believe we are in a strong position moving forward to maintain optionality and execute on advancing our development program . " XCART Platform Technology Overview : Significantly differentiated , proprietary approach to personalized CAR T lymphoma therapy targeting tumor - specific neoantigens that target independently of CD19 or other surface antigens that are common to both normal and malignant B - cells . Lead program for Non - Hodgkin lymphoma , an area of significant unmet need , with the potential to address an initial global market opportunity of over $ 7 billion annually . [ 1 ] Program Highlights : • Collaboration with Pharmsynthez and multiple academic institutions in Eastern Europe which provides access to methods and materials , including clinical samples , for optimizing the overall XCART workflow .