‘XTL Biopharmaceuticals’ Acquires ‘Kitov Pharmaceuticals’

XTL Biopharmaceuticals, a biopharmaceutical development company based in Herzliya, Israel, announced it will acquire Kitov Pharmaceuticals. The company said it could pay up to $48 million through shares as well as cash milestone payments. Kitov Pharmaceuticals, which researches and develops combination drug products, has focused on the treatment of hypertension and pain induced by osteoarthritis. XTL focuses on the acquisition, development and commercialization of pharmaceutical products for the treatment of clinical unmet needs.