XBiotech was founded in 2005 based on the premise that pharmacologically relevant antibodies were present in humans that could be cloned and used as therapeutics. These human derived antibodies (True Human) are expected to offer the best possible safety and tolerability. The potential for using human-sourced antibodies was recognized as a largely untapped resource. Thus commercialization of True Human therapeutics was deemed to represent breakthrough, first-in-class products in the rapidly growing business of therapeutic antibodies. XBiotech was founded to assemble the core technology and expertise to establish a discovery program for True Human antibodies. True Human antibody products were expected to improve safety and efficacy of antibody therapy, and thus broaden acceptance and further expand market opportunities for these next-generation products. The Company’s lead product, MABp1, is a True Human Antibody that targets a master regulator of chronic inflammation interleukin-1 alpha (IL-1a). MABp1 clinical data so far suggests extraordinary clinical value; as well, these data support the original premise of True Human antibody safety and tolerability. XBiotech is incorporated in Canada, the United States and Switzerland, with the vast majority of operations at its facilities in Austin, Texas. Research and development work continues for a number of different antibody targets with ongoing screening of human blood for new candidate therapeutics. However, much of the Company’s resources are now devoted to commercializing its lead product candidate MABp1

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