UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
6-K
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
of
the Securities Exchange Act of 1934
For the
month of December, 2008
Commission
File Number: 000-51310
XTL Biopharmaceuticals
Ltd.
(Translation
of registrant's name into English)
711
Executive Blvd., Suite Q
Valley Cottage, New York
10989
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
Form
20-F x Form
40-F o
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ____
Indicate
by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
If “Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- N/A
Incorporation
by Reference: This Form 6-K of XTL Biopharmaceuticals Ltd. dated December 8,
2008 is hereby incorporated by reference into the registration statements on
Form F-3 (File No. 333-141529, File No. 333-147024 and File No. 333-153055)
filed by XTL Biopharmaceuticals Ltd. with the Securities and Exchange Commission
on March 23, 2007 , October 30, 2007 and August 15, 2008, respectively, and the
registration statements on Form S-8 (File No. 333-148058, File No. 333-148574
and File No. 333-154795) filed by XTL Biopharmaceuticals Ltd. with the
Securities and Exchange Commission on December 14, 2007, January 18, 2008, and
October 28, 2008, respectively.
XTL
Biopharmaceuticals implements restructuring plan
Valley Cottage, NY, December 8,
2008 - XTL Biopharmaceuticals Ltd.
(NASDAQ: XTLB, TASE: XTL) announced today that it is restructuring its
operations following the failure of the Bicifadine Phase 2b clinical trial. The
company is terminating the employment of 9 employees, representing 75% of its
workforce. The remaining employees will be responsible for seeking
potential assets or a company to merge into XTL, or for assisting in the
liquidation and/or disposition of XTL’s assets.
Contact:
Ron
Bentsur, Chief Executive Officer
Tel:
+1-(845)-267-0707 ext. 225
Cautionary
Statement
Some
of the statements included in this press release, particularly those
anticipating future business prospects, may be forward-looking statements that
involve a number of risks and uncertainties. For those statements, we claim the
protection of the safe harbor for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995. It is possible that we will
not be able to find a buyer for the assets or a merger partner. Any
forward-looking statements set forth in this press release speak only as of the
date of this press release. We do not intend to update any of these
forward-looking statements to reflect events or circumstances that occur after
the date hereof. This press release and prior releases are available at
http://www.xtlbio.com. The information in our website is not incorporated by
reference into this press release and is included as an inactive textual
reference only.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
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XTL
BIOPHARMACEUTICALS LTD.
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Date:
December 8, 2008
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By:
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/s/ Ron Bentsur
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Ron
Bentsur
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Chief
Executive
Officer
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