LEXINGTON, Mass.--(BUSINESS WIRE)--Xenetic Biosciences, Inc. (OTCQB: XBIO) (“Xenetic” or “the Company”), a biopharmaceutical company developing next-generation biologic drugs and novel orphan oncology therapeutics, today announced that its Board of Directors has approved a proportional 1-for-33 reduction and reverse stock split of its issued and outstanding common stock in preparation for its planned uplisting to the NASDAQ Capital Market (“NASDAQ”). The Company anticipates the reverse stock split to become effective and its common stock to begin trading on a post-split basis at the open of trading on Wednesday June 1, 2016, contingent upon final approval from the Financial Industry Regulatory Authority (FINRA).

The reverse stock split is intended to fulfill the stock price requirements for listing on NASDAQ since the requirements include that the Company’s common stock must maintain a minimum closing price for 30 of 60 trading days.

“The reverse split is another fundamental step in our strategy in preparation for our planned uplisting to NASDAQ,” said M. Scott Maguire, Chief Executive Officer. “In addition to unlocking the tremendous potential that exists within our deep pipeline, a NASDAQ listing has been an important stated goal of Xenetic for 2016. Importantly, we expect the NASDAQ listing will enable us to attract a broader range of investors and to increase share liquidity, critical elements that we expect will propel the company forward as we advance to our next stage of growth. The Board is unanimously pleased to be taking these final steps necessary to effect one of our near-term, transformational corporate goals.”

About Xenetic Biosciences

Xenetic Biosciences, Inc. is a biopharmaceutical company developing next-generation biologic drugs and novel oncology therapeutics. Xenetic's proprietary drug technology platforms include PolyXen®, designed to develop next generation biologic drugs by extending the efficacy, safety and half-life of biologic drugs.