X-BIOTIX THERAPEUTICS ANNOUNCES CHANGE IN CORPORATE STRATEGY

X-Biotix Therapeutics, Inc. (X-Biotix), a biotechnology company focused on the discovery and development of first-in-class antibiotic compounds targeting multi-drug-resistant Gram-negative pathogens, announced today a change in its strategy, which will include suspension of its current antibacterial research efforts. The company will instead focus on submitting manuscripts that describe its progress in developing novel small molecules that demonstrate inhibitory activity against multi-drug resistant Gram-negative bacteria and on strengthening its intellectual property position with additional filings. X-Biotix has developed comprehensive intellectual property covering a wide range of novel chemical matter for its research programs and will continue to explore out-licensing or new funding opportunities for these programs. The company hopes that, in light of the urgent threat of antimicrobial resistance that exists globally, appropriate funding and sponsorship will emerge to facilitate continuation of its critical early-stage work in this field.