On February 12, 2016 Xenetic Biosciences, Inc. (OTCQB: XBIO), a biopharmaceutical company focused on developing next-generation biologic drugs and novel oncology therapeutics ("Xenetic") reported that OPKO Health, Inc. (NYSE: OPK) has acquired an approximate 6.3% interest in Xenetic (Press release, Xenetic Biosciences, FEB 12, 2016, View Source [SID1234537813]).

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Commenting on the investment in Xenetic, Dr. Phillip Frost, CEO and Chairman of OPKO Health, Inc., stated, "Xenetic has many novel technologies that address unmet needs in various orphan cancer indications, and we believe the science and the clinical strategy have the promise to create significant shareholder value."

Scott Maguire, President and Chief Executive Officer of Xenetic commented, "We are proud to have OPKO Health as one of our largest shareholders joining our other strategic shareholders, Baxalta and Serum Institute of India. Dr. Frost has an outstanding track record in creating shareholder value in our industry."