Xenetic Biosciences Appoints Curtis A. Lockshin, Ph.D. as Chief Scientific Officer LEXINGTON, MA - (

Xenetic Biosciences Appoints Curtis

A. Lockshin, Ph.D. as Chief Scientific Officer

MA - (January 4, 2017) - Xenetic Biosciences, Inc. (NASDAQ: XBIO) ("Xenetic"

or the "Company"), a clinical-stage biopharmaceutical company focused on the discovery, research and development

of next-generation biologic drugs and novel orphan oncology therapeutics, announced today that it has appointed Curtis A. Lockshin,

Ph.D. as Chief Scientific Officer.

Dr. Lockshin is a life science executive

with an extensive background in cross-functional R&D management, with a particular focus on drug discovery, preclinical and

clinical development. Dr. Lockshin is an inventor on numerous patents related to small-molecule therapeutics, biomaterials and

"We are pleased to welcome Curt

to our executive management team as CSO. His vast experience in drug development will be an important asset in driving our drug

candidates through the clinic and adhering to announced timelines. With Curt's scientific stewardship, Xenetic is focused

on advancing our oncology pipeline as well as leveraging our PolyXen platform technology which has the potential to drive

near-term licensing revenue," said Scott Maguire, Chief Executive Officer of Xenetic. "We made tremendous progress

last year on multiple fronts. With our second important executive level appointment since our Nasdaq listing, Xenetic now has a

structure to deliver on what we believe will be a transformational 2017."

Prior to his appointment as Chief Scientific

Officer of Xenetic, Dr. Lockshin served as the Vice President of Research and Operations of the Company since March 2014. From

July 2015 to July 2016, Dr. Lockshin served as Chief Executive Officer and Director of SciVac Therapeutics Inc., and its subsidiary

SciVac, Ltd., a commercial-stage biologics and vaccine company in Rehovot, Israel, where he had been serving as CEO and Director

since September 2014. Subsequent to SciVac Therapeutics' merger with VBI Vaccines, Inc. in July 2016, Dr. Lockshin served

as Chief Technical Officer of VBI Vaccines and its subsidiary SciVac Ltd. In addition, he has served as President and CEO of Guardum

Pharmaceuticals, LLC, a private pharmaceutical company, and previously as Vice President of Corporate R&D Initiatives for OPKO

Health, Inc., a multinational pharmaceutical and diagnostics company. Dr. Lockshin has served as a member of the Board of Directors

at a number of companies including RXi Pharmaceuticals, Corp., ChromaDex, Inc., and Sorrento Therapeutics, Inc., as well as the

Ruth K. Broad Biomedical Research Foundation, a Duke University Support Corporation that supports basic research related to Alzheimer's

disease and neurodegeneration via intramural, extramural and international grants.

"I am excited to join the executive

team at Xenetic and play an active role in the clinical development of an exciting pipeline," commented Dr. Lockshin. "I

believe Xenetic is well positioned to drive value in its rich pipeline, and importantly, further validate the Company's proprietary

technology platform over the course of 2017. I look forward to continue working with the Xenetic management team as we prepare

for an exciting period ahead."

Lockshin received his S.B. degree in Life Sciences and his Ph.D. in Biological Chemistry from the Massachusetts Institute of Technology.

Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on discovery, research and development of next-generation

biologic drugs and novel orphan oncology therapeutics. Xenetic's proprietary drug development platforms include PolyXen ,

which enables next generation biologic drugs by improving their half-life and other pharmacological properties. Xenetic's lead

investigational product candidates include FDA orphan designated oncology therapeutic sodium cridanimod for the treatment

of progesterone receptor negative endometrial cancer, and a polysialylated form of erythropoietin for the treatment of anemia in

pre-dialysis patients with chronic kidney disease.

is also working together with Shire plc (formerly Baxalta, Baxter Incorporated and Baxter Healthcare) to develop a novel series

of polysialylated blood coagulation factors, including a next generation Factor VIII. This collaboration relies on Xenetic's PolyXen

technology to conjugate polysialic acid ("PSA") to therapeutic blood-clotting factors, with the goal of improving the

pharmacokinetic profile and extending the active life of these biologic molecules. Shire is one of the Company's largest shareholders

having invested $10 million in the common stock of the Company during 2014. The agreement is an exclusive research, development

and license agreement which grants Shire a worldwide, exclusive, royalty-bearing license to Xenetic's PSA patented and proprietary

technology in combination with Shire's proprietary molecules designed for the treatment of blood and bleeding disorders. Under

the agreement, Xenetic may receive regulatory and sales target payments for total potential milestone receipts of up to $100

million plus royalties on sales.

is also developing a broad pipeline of clinical candidates for next generation biologics and novel oncology therapeutics in a number

of orphan disease indications. For more information, please visit the company's website at www.xeneticbio.com and connect

on Twitter, LinkedIn, Facebook and Google+.

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Jenene Thomas Communications, LLC.

Xenetic Biosciences, Inc.