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Xenetic Biosciences all-stock deal would give Santersus AG shareholders 85% of combined company

9/16/2026

Fifteen percent is the equity Xenetic Biosciences (NASDAQ: XBIO) shareholders are expected to hold in the post-merger company under a definitive all-stock share exchange agreement signed September 16 with privately held Santersus AG.

Santersus shareholders take the remaining 85%, calculated on a fully diluted, as-converted basis.

The two figures sum to 100 before adjustments tied to Xenetic's net cash position at closing, so the final split is not locked. The combined company would be renamed Santersus Bio, Inc.

and trade on Nasdaq under the proposed ticker SNTS, following a Xenetic strategic review. Santersus chief executive James Ladtkow would lead the combined organization, backed by the existing Santersus management team.