<SEC-DOCUMENT>0001171843-19-004604.txt : 20190716
<SEC-HEADER>0001171843-19-004604.hdr.sgml : 20190716
<ACCEPTANCE-DATETIME>20190716123651
ACCESSION NUMBER:		0001171843-19-004604
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20190710
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190716
DATE AS OF CHANGE:		20190716

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			XBiotech Inc.
		CENTRAL INDEX KEY:			0001626878
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37347
		FILM NUMBER:		19956660

	BUSINESS ADDRESS:	
		STREET 1:		8201 E. RIVERSIDE DRIVE
		STREET 2:		BUILDING 4, SUITE 100
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78744
		BUSINESS PHONE:		512-386-2930

	MAIL ADDRESS:	
		STREET 1:		8201 E. RIVERSIDE DRIVE
		STREET 2:		BUILDING 4, SUITE 100
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78744
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_071619.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
July 10, 2019</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 18pt">XBIOTECH INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Exact name of Registrant as specified in its charter)</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">British Columbia, Canada</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(State of Incorporation)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">001-37347</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission File Number)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 100%; font-size: 10pt; text-align: center">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">5217 Winnebago Lane</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Austin, Texas</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">78744</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Zip Code)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(512) 386-2900</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9744; Written communications
pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9744; Soliciting material
pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9744; Pre-commencement
communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9744; Pre-commencement
communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section 12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; border: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Title of each class</FONT></TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Trading Symbol(s)</FONT></TD>
    <TD STYLE="width: 43%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Name of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Common Stock, no par value</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">XBIT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">NASDAQ Global Select Market</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&sect;240.12b-2 of this chapter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.25in">Emerging growth company <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 1in">Item 5.02(d) </TD><TD STYLE="text-align: justify">Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Election of a Member of the Board of Directors</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On July 10, 2019, Mr. Peter Libby was elected as a member of
the Board of Directors of XBiotech Inc. (&ldquo;the Company&rdquo;), as well as appointed as a member of the Company&rsquo;s Compensation
Committee,&nbsp;to serve until his successor is duly elected and qualified or until his earlier resignation, removal or death.
Mr. Libby is perennially named a top cardiologist. Dr. Libby has received research recognitions on four continents including the
highest research awards from the American Heart Association and American College of Cardiology, the Gold Medal of the European
Society of Cardiology, the Anitschkow award from the European Atherosclerosis Society, The Ernst Jung Gold Medal for Medicine,
and the Earl Benditt award for vascular biology. He is currently the Mallinckrodt Professor of Medicine, Harvard Medical School
at&nbsp;Brigham and Women's Hospital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Upon election as a Board Member and pursuant to the Board Member
Agreement dated July 10, 2019, between Mr. Libby and the Company (the &ldquo;Agreement&rdquo;), Mr. Libby (the &ldquo;Option Holder&rdquo;)
was granted non-qualified stock options to purchase 25,000 shares of the Company&rsquo;s common stock on the Effective Date of
the Agreement and an additional 12,500 options will be granted on or about the date of the Company&rsquo;s 2020 annual stockholders
meeting. During Option Holder&rsquo;s service as a Board Member in years following 2019, the Option Holder will be granted 25,000
options annually on or about the date of the Company&rsquo;s annual stockholders meeting. All granted options will be exercisable
at a price equal to the closing price of the Company&rsquo;s common stock, as reported by NASDAQ, on the date of grant, and vest
in two equal installments occurring six months and 12 months following the date of grant, subject to continued service as a Director
(the &ldquo;Options&rdquo;). The Options shall expire ten years from the date of grant, unless terminated earlier in accordance
with the Plan or the Option Holder&rsquo;s stock option agreement. In accordance with the Plan, the Options will remain exercisable
for 90 days after the date of the Option Holders termination without cause or resignation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The foregoing description of the Agreement does not purport
to be complete and is qualified in its entirety by reference to the Agreement, which is filed as Exhibit 10.1 hereto and incorporated
by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 8.01</TD><TD>Other Events.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On July 10, 2019, the Company issued a press release announcing
the addition of Dr. Libby to the Board of Directors. A copy of the press release issued in connection with the announcement is
filed as Exhibit 99.1 to this Current Report on Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 9.01</TD><TD STYLE="text-align: justify">Financial Statements and Exhibits.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>(d) Exhibits</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 9%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Exhibit</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Number</P></TD>
    <TD STYLE="vertical-align: top; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 89%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="exh_101.htm"><FONT STYLE="font-size: 10pt">10.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="exh_101.htm"><FONT STYLE="font-size: 10pt">Board Member Agreement, dated as of July 10, 2019, by and between XBiotech Inc. and Peter Libby</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="exh_991.htm"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="exh_991.htm"><FONT STYLE="font-size: 10pt">Press Release of XBiotech Inc., issued July 10, 2019</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>This Form 8-K contains forward-looking
statements, including declarations regarding management's beliefs and expectations, that involve substantial risks and uncertainties.
In some cases, you can identify forward-looking statements by terminology such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo;
&ldquo;would,&rdquo; &ldquo;could,&rdquo; &ldquo;expects,&rdquo; &ldquo;plans,&rdquo; &ldquo;contemplate,&rdquo; &ldquo;anticipates,&rdquo;
&ldquo;believes,&rdquo; &ldquo;estimates,&rdquo; &ldquo;predicts,&rdquo; &ldquo;projects,&rdquo; &ldquo;intend&rdquo; or &ldquo;continue&rdquo;
or the negative of such terms or other comparable terminology, although not all forward-looking statements contain these identifying
words. Forward-looking statements are subject to inherent risks and uncertainties in predicting future results and conditions that
could cause the actual results to differ materially from those projected in these forward-looking statements. These risks and uncertainties
are subject to the disclosures set forth in &quot;Risk Factors&quot; in our SEC filings.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: justify; text-indent: -247.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">Date: July 16, 2019</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">XBIOTECH INC.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/John Simard</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">John Simard</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer and President</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<FILENAME>exh_101.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Board Member Agreement</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement (this
&ldquo;<U>Agreement</U>&rdquo;), dated as of the 10 day of July, 2019, is between Peter Libby, M.D., an individual having a residence
at 109 Larch Road Cambridge MA 02138 (the &ldquo;<U>Board Director</U>&rdquo;), and XBiotech Inc., a British Columbia corporation
with its principal executive office located at 5217 Winnebago Lane, Austin, Texas 78744 (the &ldquo;<U>Company</U>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the parties
desire to enter into this Agreement to set forth certain terms and conditions related to the Board Director&rsquo;s proposed service
as a member of the Company&rsquo;s Board of Directors (the &ldquo;<U>Board</U>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, the
parties agree as follows:</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><U>Effective Date</U>. This Agreement shall be effective as of the date upon which the Board Director
becomes a duly elected or appointed member of the Board (the &ldquo;<U>Effective Date</U>&rdquo;).</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify"><U>Term</U>. This Agreement shall commence on the Effective Date and shall remain in effect until
such time as the Board Director, resigns, is removed, dies or otherwise ceases to be a member of the Board (the &ldquo;<U>Term</U>&rdquo;).</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify"><U>Position</U>. During the Term, the Board Director shall act as a member of the Board.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify"><U>Duties and Reporting Relationship</U>. During the Term, the Board Director shall be generally
available, at mutually agreed times, during regular business hours. The Board Director consents to the Company referring to him
as a member of the Board in SEC filings, investor and other presentations, in business plans, on the Company&rsquo;s and otherwise
as deemed necessary or desirable by the Company. The Company may request that the Board Director participate in discussions, as
suitable to his schedule and availability, with third parties from time to time. The Board Director may be asked to serve as a
member and/or as chair of one or more committees of the Board.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify"><U>Equity Compensation</U>. Subject to Board approval, on the Effective Date, the Board Director
will be granted non-qualified stock options under the Company&rsquo;s 2015 Equity Incentive Plan (the &ldquo;Plan&rdquo;) to purchase
25,000 shares of the Company&rsquo;s common stock (the &ldquo;Initial Options&rdquo;). Subject to Board approval, the Board Director
will also be granted, on or about the date of the Company&rsquo;s annual stockholders meeting, an additional 12,500 options under
the Plan. During Option Holder&rsquo;s service as a Board Director in years following 2019, the Option Holder will be granted 25,000
options annually on or about the date of the Company&rsquo;s annual stockholders meeting, subject to such director compensation
plans and policies as the Board may adopt. All such options will be exercisable at a price equal to the closing price of the Company&rsquo;s
common stock, as reported by NASDAQ, on the date of grant, and vest in two equal installments occurring six months and 12 months
following the date of grant, subject to continued service as a member of the Board; provided, however, that the Initial Options
shall be fully vested upon grant. All such options shall expire ten years from the date of grant, unless terminated earlier in
accordance with the Plan or the applicable stock option agreement, and, as provided in the Plan, will remain exercisable for 90
days after the date of the Board Director&rsquo;s resignation or removal (other than for cause) as a member of the Board. The equity
compensation set forth in this Section 5 and reimbursement pursuant to Section 7 shall constitute all of the consideration to which
the Board Director is entitled for service as a member of the Board.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify"><U>Consulting Arrangements; Scientific Advisory Services and Fees</U>. For the avoidance of doubt,
the Consulting Agreement dated as of September 5, 2018 between XBiotech USA, Inc. (&ldquo;<U>XBiotech USA</U>&rdquo;) and the Board
Director (as amended, the &ldquo;<U>Consulting Agreement</U>&rdquo;) shall remain in effect in accordance with its terms, and the
Company will compensate the Board Director under the terms and conditions thereof for non-Board related consulting duties and services
requested by the Company thereunder. In addition, concurrently with the execution of this Agreement, the Company will cause XBiotech
USA to enter into with the Board Director, and the Board Director agrees to enter into, an amendment to the Consulting Agreement
(the &ldquo;<U>Amendment</U>&rdquo;). The Amendment will provide that the Board Director will receive as compensation for serving
as a scientific advisor to the Company, in addition to the fees set forth in Section 5 of the Consulting Agreement, and for so
long as he remains a member of the Board, notwithstanding any termination of the Consulting Agreement, an amount equal to $25,000
per annum, payable quarterly in arrears.</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify"><U>Reimbursement of Expenses</U>. The Board Director shall be reimbursed, upon timely submission
to the Company of receipts and other documentation as required by the Internal Revenue Code of 1986, as amended, and in conformance
with the Company&rsquo;s normal expense reimbursement policies and procedures, for all ordinary and necessary business expenses
incurred by the Board Director in connection with his services as member of the Board. In addition, the Board Director shall be
reimbursed for up to $4,000 in legal fees incurred in connection with entering into this Agreement.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify"><U>Indemnification and Insurance</U>. Exhibit A hereto, which is hereby incorporated herein as
if set forth herein, sets forth certain agreements of the parties hereto in respect of indemnification and insurance.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify"><U>Representation and Warranties</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">The Company represents and warrants that this Agreement has been authorized by the Company and
is a valid and binding agreement of the Company enforceable against it in accordance with its terms.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">The Board Director represents and warrants that he is not a party to any agreement or instrument
which would prevent him from entering into or performing his duties under this Agreement.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify"><U>Confidentiality</U>. The Board Director agrees to comply with the Company&rsquo;s reasonable
policies concerning Confidentiality and Non-Disclosure as in effect from time to time. The Company agrees that nothing herein or
therein shall prevent the Board Director from rendering services in any capacity to any other person or business from time to time,
subject to the compliance with any confidentiality and non-disclosure obligations, to the Board Director&rsquo;s obligations as
a fiduciary of the Company and to applicable law. Specifically, the Company acknowledges that the Board Director is a staff member
of Brigham &amp; Women&rsquo;s Hospital and a member of the Faculty of Medicine of Harvard University, and is subject to the policies
of those institutions as well as to those of Partners HealthCare System, Inc., full and complete copies of which have been provided
by the Board Director to the Company. The Company further acknowledges that the Board Director is responsible for a variety of
research, education, patient care, other academically related activities and administrative duties.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">11.</TD><TD STYLE="text-align: justify"><U>Successors; Binding Agreement</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">This Agreement is a personal contract and the rights and interests of the Board Director hereunder
may not be sold, transferred, assigned, pledged, encumbered, or hypothecated by him, except as otherwise expressly permitted by
the provisions of this Agreement. This Agreement shall inure to the benefit of and be enforceable by the Board Director and his
personal or legal representatives, executors, administrators, successors, heirs, distributes, devisees and legatees. If the Board
Director should die while any amount would still be payable to him hereunder had the Board Director continued to live, all such
amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to his devisee, legatee
or other designee or, if there is no such designee, to his estate.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">The obligations of the Company hereunder may not be assigned by the Company without the prior written
consent of the Board Director. This Agreement shall be binding upon and be enforceable against the Company&rsquo;s successors (including
any direct or indirect successor by purchase, merger, consolidation, or otherwise to all or substantially all of the business and/or
assets of the Company) and assigns, as well as the Board Director&rsquo;s spouses, heirs, and personal and legal representatives.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">12.</TD><TD STYLE="text-align: justify"><U>Entire Agreement</U>. This Agreement contains all the understandings between the parties hereto
pertaining to the matters referred to herein, and on the Effective Date shall supersede all undertakings and agreements, whether
oral or in writing, previously entered into by them with respect hereto. The Board Director represents that, in executing this
Agreement, he does not rely and has not relied upon any representation or statement not set forth herein made by the Company with
regard to the subject matter, basis or effect of this Agreement or otherwise.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">13.</TD><TD STYLE="text-align: justify"><U>Amendment or Modification; Waiver</U>. No provision of this Agreement may be amended or waived
unless such amendment or waiver is agreed to in writing, signed by the Board Director and by a duly authorized officer of the Company.
No waiver by any party hereto of any breach by another party hereto of any condition or provision of this Agreement to be performed
by such other party shall be deemed a waiver of a similar or dissimilar condition or provision at the same time, any prior time
or any subsequent time.</TD></TR></TABLE>
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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">14.</TD><TD STYLE="text-align: justify"><U>Notices</U>. Any notice to be given hereunder shall be in writing and shall be deemed given
when delivered personally, sent by courier or telecopy or registered or certified mail, postage prepaid, return receipt requested,
addressed to the party concerned at the address indicated below or to such other address as such party may subsequently give notice
of hereunder in writing:</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 20%; text-align: left">To the Board Director at:</TD><TD STYLE="width: 10%">Attention:</TD>
    <TD STYLE="width: 40%; text-align: left"> Peter Libby</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">109 Larch Road</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Cambridge, MA 02138</TD></TR>
</TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 20%; text-align: left">To the Company at:</TD>
    <TD STYLE="width: 10%">Attention:</TD>
    <TD STYLE="width: 40%; text-align: left">John Simard, President &amp; CEO</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">XBiotech Inc.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">5217 Winnebago Lane</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Austin, TX 78744</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Any notice delivered personally
or by courier under this Section 14 shall be deemed given on the date delivered and any notice sent by telecopy or registered or
certified mail, postage paid, return receipt requested, shall be deemed given on the date telecopied or mailed.</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">15.</TD><TD STYLE="text-align: justify"><U>Severability</U>. If any provision of this Agreement or the application of any such provision
to any party or circumstances shall be determined by any court of competent jurisdiction to be invalid and unenforceable to any
extent, the remainder of this Agreement or the application of such provision to such person or circumstances other than those to
which it is so determined to be invalid and unenforceable, shall not be affected thereby, and each provision hereof shall be validated
and shall be enforced to the fullest extent permitted by law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">16.</TD><TD STYLE="text-align: justify"><U>Survivorship</U>. The respective rights and obligations of the parties hereunder shall survive
any termination of this Agreement to the extent necessary to the intended preservation of such rights and obligations.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">17.</TD><TD STYLE="text-align: justify"><U>Governing Law and Jurisdiction</U>. This Agreement will be governed by and construed in accordance
with the laws of the State of Delaware, without regard to its conflicts of the laws principles.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">18.</TD><TD STYLE="text-align: justify"><U>Headings</U>. All descriptive headings of the sections and paragraphs in this Agreement are
intended solely for convenience, and no provision of this Agreement is to be construed by reference to the heading of any section
or paragraph.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">19.</TD><TD STYLE="text-align: justify"><U>Taxes</U>. The parties agree to cooperate in respect of the withholding and reporting consequences
of the arrangements described herein. The Company agrees to facilitate, to the extent reasonably practical, the performance of
the Board Director&rsquo;s services in a manner that minimizes the Board Director&rsquo;s U.S. tax obligations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">20.</TD><TD STYLE="text-align: justify"><U>Counterparts</U>. This Agreement may be executed and delivered, including by facsimile transmission
or by electronic transmission in Adobe portable document format (or a &ldquo;PDF file&rdquo;), in counterparts, each of which shall
be deemed an original, and all of which taken together shall constitute one and the same instrument.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">PETER LIBBY, M.D.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">XBIOTECH INC.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>John Simard</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>President &amp; CEO</TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27pt 0pt 0; text-align: center"><U></U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27pt 0pt 0; text-align: center"><U>EXHIBIT A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.15pt 0pt 5.75pt; text-align: justify; text-indent: 0.25in">1.
<U>Definitions.</U> As used in this Exhibit:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">a. &ldquo;<U>Disinterested
Director&rdquo;</U> with respect to any request by the Board Director for indemnification or advancement of expenses hereunder
shall mean a director of the Company who neither is nor was a party to the Proceeding (as defined below) in respect of which indemnification
or advancement is being sought by the Board Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">b. The
term &ldquo;<U>Expenses&rdquo;</U> shall mean any expense, liability or loss, including, without limitation, damages, judgments,
fines, penalties, settlements (if, and only if, such settlement is approved in advance by the Company, which approval shall not
be unreasonably withheld, conditioned or delayed) and costs, attorneys&rsquo; fees and disbursements and costs of attachment or
similar bond, investigations, liabilities, losses, taxes, any expense paid or incurred in connection with investigating, defending,
prosecuting, being a witness in, participating in (including on appeal), or preparing for any of the foregoing in, any Proceeding
(or responding to, or objecting to, a request to provide discovery in any Proceeding), and any taxes, interests, assessments or
other charges imposed as a result of the actual or deemed receipt of any payment under this Exhibit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">c. The
term &ldquo;<U>Independent Legal Counsel&rdquo;</U> shall mean any firm of attorneys that is reasonably selected by the Board,
so long as such firm is not presently representing and has not in the preceding five (5) years represented the Company, the Company&rsquo;s
subsidiaries or affiliates, the Board Director, any entity controlled by the Board Director, or any party adverse to the Company
in any matter material to any such party (other than with respect to matters concerning the Board Director under this Exhibit,
or of other Board Directors under similar indemnification Exhibits). Notwithstanding the foregoing, the term &ldquo;Independent
Legal Counsel&rdquo; shall not include any person who, under applicable standards of professional conduct then prevailing, would
have a conflict of interest in representing either the Company or the Board Director in an action to determine the Board Director&rsquo;s
right to indemnification or advancement of expenses under this Exhibit, the Company&rsquo;s Articles of Association (the &ldquo;<U>Articles&rdquo;</U>),
applicable law or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">d. The
term &ldquo;<U>Proceeding&rdquo;</U> shall mean any threatened, pending, completed or settled action, suit, arbitration, alternate
dispute resolution mechanism, investigation, inquiry, hearing or any other proceeding (including, without limitation, an appeal
therefrom), formal or informal, whether brought in the name of the Company or otherwise, whether of a civil, criminal, administrative
or investigative nature, and whether by, in or involving a court or an administrative, other governmental or private entity or
body (including, without limitation, an investigation by the Company or its Board), in which the Board Director was, is or will
be involved as a party or otherwise, by reason of (i) the fact that the Board Director is or was a director (or a director appointee)
of the Company, or is or was serving at the request of the Company as an agent of another enterprise, (ii) any actual or alleged
act or omission or neglect or breach of duty, including, without limitation, any actual or alleged error or misstatement or misleading
statement, which the Board Director commits or suffers while acting in any such capacity, or (iii) the Board Director attempting
to establish or establishing a right to indemnification or advancement of expenses pursuant to this Exhibit, the Articles, applicable
law or otherwise, in each case whether or not the Board Director is acting or serving in any such capacity at the time any liability
or expense is incurred for which indemnification can be provided under this Exhibit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8pt 0pt 6pt; text-align: justify; text-indent: 0.5in">e. The phrase
&ldquo;<U>serving at the request of the Company as an agent of another enterprise&rdquo;</U> or any similar terminology shall mean,
unless the context otherwise requires, serving at the request of the Company as a director, officer, employee or agent of another
corporation, partnership, joint venture, limited liability company, trust, employee benefit or welfare plan or other enterprise,
foreign or domestic. The phrase &ldquo;serving at the request of the Company&rdquo; shall include, without limitation, any service
as a director or an executive officer of the Company which imposes duties on, or involves services by, such director or executive
officer with respect to the Company or any of the Company&rsquo;s subsidiaries, affiliates, employee benefit or welfare plans,
such plan&rsquo;s participants or beneficiaries or any other enterprise, foreign or domestic. In the event that the Board Director
shall be a director, officer, employee or agent of another corporation, partnership, joint venture, limited liability company,
trust, employee benefit or welfare plan or other enterprise, foreign or domestic, 50% or more of the ordinary shares, combined
voting power or total equity interest of which is owned by the Company or any subsidiary or affiliate thereof, then it shall be
presumed conclusively that the Board Director is so acting at the request of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.15pt 0pt 5.75pt; text-align: justify; text-indent: 0.25in">2.
<U>Indemnification.</U> Subject to Section 6 below, the Company hereby agrees to hold harmless and indemnify the Board Director
to the fullest extent permitted by law, as such may be amended from time to time. In furtherance of the foregoing indemnification
and without limiting the generality thereof:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 6pt; text-align: justify; text-indent: 0.5in">a. <U>In
General.</U> The Company shall indemnify the Board Director if the Board Director is a party to or threatened to be made a party
to or is otherwise involved in any Proceeding against all Expenses which are actually and reasonably incurred by the Board Director
in connection with such a Proceeding, if the Board Director acted in good faith and in a manner the Board Director reasonably believed
to be in, or not opposed to, the best interests of the Company, and with respect to any criminal Proceeding, did not have reasonable
grounds to believe the Board Director&rsquo;s conduct was unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.85pt 0pt 6pt; text-align: justify; text-indent: 0.5in">b. <U>Indemnification
for Expenses of Witness.</U> Notwithstanding any other provision of this Exhibit, to the extent that the Board Director has prepared
to serve or has served as a witness or is made to respond to discovery requests in any Proceeding to which the Board Director is
not a party, the Board Director shall be indemnified against all Expenses actually and reasonably incurred by the Board Director
in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.4pt 0pt 6pt; text-align: justify; text-indent: 0.5in">c. <U>Partial
Indemnification.</U> If Board Director is entitled under any provision of this Exhibit to indemnification by the Company for some
or a portion of Expenses incurred in connection with any Proceedings, but not, however, for the total amount thereof, the Company
shall nevertheless indemnify Board Director for the portion of such Expenses to which Board Director is entitled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.7pt 0pt 6pt; text-align: justify; text-indent: 0.25in">3. <U>Contribution.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.7pt 0pt 6pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.7pt 0pt 6pt; text-align: justify; text-indent: 34.5pt">a. Whether
or not the indemnification provided in Section 2 hereof is available, in respect of any threatened, pending or completed Proceeding
in which the Company is jointly liable with the Board Director (or would be if joined in such Proceeding), the Company shall pay,
in the first instance, the entire amount of any Expense of such Proceeding without requiring the Board Director to contribute to
such payment and the Company hereby waives and relinquishes any right of contribution it may have against the Board Director. The
Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with the Board Director (or
would be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against
the Board Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.7pt 0pt 6pt; text-align: justify; text-indent: 34.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.7pt 0pt 6pt; text-align: justify; text-indent: 34.5pt">b. Without
diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, the Board
Director shall elect or be required to pay all or any portion of any Expense in any threatened, pending or completed Proceeding
in which the Company is jointly liable with the Board Director (or would be if joined in such Proceeding), the Company shall contribute
to the amount of Expenses incurred and paid or payable by the Board Director in proportion to the relative benefits received by
the Company and all officers, directors or employees of the Company, other than the Board Director, who are jointly liable with
the Board Director (or would be if joined in such Proceeding), on the one hand, and the Board Director, on the other hand, from
the transaction or events from which such Proceeding arose; provided, however, that the proportion determined on the basis of relative
benefit may, to the extent necessary to conform to law, be further adjusted by reference to the relative fault of the Company and
all officers, directors or employees of the Company other than the Board Director who are jointly liable with the Board Director
(or would be if joined in such Proceeding), on the one hand, and the Board Director, on the other hand, in connection with the
transaction or events that resulted in such Expenses, as well as any other equitable considerations which applicable law may require
to be considered. The relative fault of the Company and all officers, directors or employees of the Company, other than the Board
Director, who are jointly liable with the Board Director (or would be if joined in such Proceeding), on the one hand, and the Board
Director, on the other hand, shall be determined by reference to, among other things, the degree to which their actions were motivated
by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary and the degree to which
their conduct is active or passive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.7pt 0pt 6pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.7pt 0pt 6pt; text-align: justify; text-indent: 34.5pt">c. The
Company hereby agrees to fully indemnify and hold the Board Director harmless from any claims of contribution which may be brought
by officers, directors, or employees of the Company, other than the Board Director, who may be jointly liable with the Board Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.7pt 0pt 6pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.7pt 0pt 6pt; text-align: justify; text-indent: 34.5pt">d. To
the fullest extent applicable under applicable law, if the indemnification provided in Section 2 above is unavailable to Board
Director for any reason in connection with a Proceeding, the Company, in lieu of indemnifying Board Director thereunder, shall
contribute to the amount of Expenses which are actually and reasonably incurred and paid or payable by the Board Director in such
proportion as is deemed fair and reasonable by the person or persons presiding over the Proceeding in light of all of the circumstances
of such Proceeding in order to reflect (i) the relative benefits received by the Company and the Board Director and/or (ii) the
relative fault of the Company and such Board Director in connection with the transaction or events from which such Proceeding arose.
The relative fault of the Company and the Board Director shall be determined by reference to, among other things, the parties&rsquo;
relative intent, knowledge, access to information and opportunity to correct or prevent the circumstances resulting in such Expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.6pt 0pt 6pt; text-align: justify; text-indent: 0.25in">4. <U>Advancement
of Expenses.</U> The Expenses incurred by the Board Director in any Proceeding shall be paid promptly by the Company (within thirty
(30) days of the written request) in advance of the final disposition of the Proceeding at the written request of the Board Director
to the fullest extent permitted by applicable law; provided, however, that the Board Director shall set forth in such request reasonable
evidence that such Expenses have been incurred by the Board Director in connection with such Proceeding and hereby undertakes to
repay any advances if it is ultimately determined as provided in subsection 5(b) of this Exhibit that the Board Director is not
entitled to indemnification under this Exhibit, the Articles, applicable law or otherwise. Any advances and undertakings to repay
pursuant to this Section 4 shall be unsecured and interest free.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify">5. <U>Indemnification Procedure;
Determination of Right to Indemnification.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12.5pt 0pt 6pt; text-align: justify; text-indent: 0.5in">a. Promptly
after receipt by the Board Director of notice of the commencement of any Proceeding, the Board Director shall, if a claim for indemnification
in respect thereof is to be made against the Company under this Exhibit, notify the Company of the commencement thereof in a written
request, including therein or therewith such documentation and information as is reasonably available to Board Director and is
reasonably necessary to determine whether and to what extent Board Director is entitled to indemnification. The omission to so
notify the Company will not relieve the Company from any liability which the Company may have to the Board Director under this
Exhibit unless the Company shall have lost significant substantive or procedural rights with respect to the defense of any Proceeding
as a result of such omission to so notify.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">b. The
Board Director shall be conclusively presumed to be entitled to indemnification under this Exhibit unless a determination is made
that the Board Director is not entitled to indemnification under this Exhibit, the Articles, applicable law or otherwise by (i)
a majority vote of the Board of a quorum consisting of Disinterested Directors or (ii) if a quorum of the Board consisting of Disinterested
Directors is not obtainable, by Independent Legal Counsel in a written opinion to the Board, a copy of which shall be delivered
to the Board Director. The Board Director agrees that the delivery of such opinion to the Board Director does not constitute a
waiver of any privilege or doctrine, including the attorney-client privilege and the work product doctrine, with respect to any
other communication between the Independent Legal Counsel and its client or clients.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.3pt 0pt 6pt; text-align: justify; text-indent: 0.5in">c. If (i)
a determination is made that the Board Director is not entitled to indemnification under this Exhibit or (ii) a claim for indemnification
or advancement of Expenses under this Exhibit is not paid by the Company within thirty (30) days after receipt by the Company of
written notice thereof, the Board Director is entitled to an adjudication in any court of competent jurisdiction. Such judicial
proceeding shall be made de novo. The burden of proving that indemnification or advances are not appropriate shall be on the Company.
Neither the failure of the directors of the Company or Independent Legal Counsel to have made a determination prior to the commencement
of such action that indemnification or advancement of Expenses is proper in the circumstances because the Board Director has met
the applicable standard of conduct, if any, nor an actual determination by the directors of the Company or Independent Legal Counsel
that the Board Director has not met the applicable standard of conduct shall be a defense to an action by the Board Director or
create a presumption for the purpose of such an action that the Board Director has not met the applicable standard of conduct.
The termination of any Proceeding by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent,
shall not, of itself (i) create a presumption that the Board Director did not act in good faith and in a manner which he reasonably
believed to be in the best interests of the Company and/or its shareholders, and, with respect to any criminal Proceeding, that
the Board Director had reasonable cause to believe that his conduct was unlawful or (ii) otherwise adversely affect the rights
of the Board Director to indemnification or advancement of Expenses under this Exhibit, except as may be provided herein. The Company
shall be precluded from asserting in any judicial proceeding commenced pursuant to this Section 5 that the procedures and presumptions
of this Agreement are not valid, binding and enforceable against the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.45pt 0pt 6pt; text-align: justify; text-indent: 0.5in">d. If
a court of competent jurisdiction shall determine that the Board Director is entitled to any indemnification or advancement of
Expenses hereunder, the Company shall pay all Expenses actually and reasonably incurred by the Board Director in connection with
such adjudication (including, but not limited to, any appellate proceedings).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.35pt 0pt 6pt; text-align: justify; text-indent: 0.5in">e. With
respect to any Proceeding for which indemnification or advancement of Expenses is requested, the Company will be entitled to participate
therein at its own expense and, except as otherwise provided below, to the extent that it may wish, the Company may assume the
defense thereof, with counsel reasonably satisfactory to the Board Director. After notice from the Company to the Board Director
of its election to assume the defense of a Proceeding, the Company will not be liable to the Board Director under this Exhibit
for any Expenses subsequently incurred by the Board Director in connection with the defense thereof, other than as provided below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.35pt 0pt 6pt; text-align: justify; text-indent: 0.5in">f. The
Company shall not settle any Proceeding in any manner which would impose any penalty or limitation on the Board Director without
the Board Director&rsquo;s written consent. The Board Director shall have the right to employ his own counsel in any Proceeding,
but the fees and expenses of such counsel incurred after notice from the Company of its assumption of the defense of the Proceeding
shall be at the expense of the Board Director, unless (i) the employment of counsel by the Board Director has been authorized by
the Company, (ii) the Board Director shall have reasonably concluded that there may be a conflict of interest between the Company
and the Board Director in the conduct of the defense of a Proceeding, or (iii) the Company shall not in fact have employed counsel
to assume the defense of a Proceeding, in each of which cases the fees and expenses of the Board Director&rsquo;s counsel shall
be advanced by the Company. The Company shall not be entitled to assume the defense of any Proceeding brought by or on behalf of
the Company or as to which the Board Director has reasonably concluded that there may be a conflict of interest between the Company
and the Board Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.35pt 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.35pt 0pt 6pt; text-align: justify; text-indent: 0.5in">g. Board
Director shall give the Company such information and cooperation as it may reasonably require and as shall be within Board Director&rsquo;s
power. Subject to Section 3, and solely to the extent of any actual prejudice to the Company caused thereby, the Company shall
not be liable to indemnify the Board Director under this Exhibit with regard to any judicial action with respect to which the Company
was not given a reasonable and timely opportunity, at its expense, to participate in the defense, conduct and/or settlement of
such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.7pt 0pt 6pt; text-align: justify; text-indent: 0.25in">6. <U>Limitations
on Indemnification.</U> Notwithstanding any provision in this Exhibit, the Company shall not be obligated under this Exhibit to
make any indemnity in connection with any claim made against the Board Director:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">a. in
connection with any Proceeding initiated or brought voluntarily by the Board Director and not by way of defense, unless (i) the
Board authorized the Proceeding prior to its initiation or (ii) the Proceeding is to enforce indemnification rights under this
Exhibit, the Articles, applicable law or otherwise and either (A) Board Director is successful in such Proceeding in establishing
Board Director&rsquo;s right, in whole or in part, to indemnification or advancement of Expenses hereunder (in which case such
indemnification or advancement shall be to the fullest extent permitted by this Exhibit) or (B) the court in such Proceeding shall
determine that, despite Board Director&rsquo;s failure to establish his right to indemnification, Board Director is entitled to
indemnity for such expenses (in which case such indemnification or advancement shall be to the extent provided by such court);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">b. in
connection with the Board Director preparing to serve or serving as a witness in voluntary cooperation with any commercial private
party or entity (which shall explicitly exclude from this Section 6.b any governmental, regulatory, quasi-governmental, administrative,
healthcare institutional and similar organizations that the Board Director, in his reasonable discretion, has determined that he
is required to cooperate with by law or pursuant to applicable standards of professional ethics or responsibility) that has threatened
or commenced any action or proceeding against the Company, or any director, officer, employee, trustee, agent, representative,
subsidiary, parent corporation or affiliate of the Company, but such indemnification may be provided by the Company if the Board
finds it to be appropriate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">c. for
which payment has actually been made to the Board Director under a valid and collectible insurance policy, except in respect of
any excess beyond the amount of payment under such insurance policy;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">d. for
an accounting of profits made from the purchase or sale by the Board Director of securities of the Company pursuant to the provisions
of Section 16(b) of the Act or similar provisions of any federal, state or local statute or regulation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">e. if
a court of competent jurisdiction finally determines that such indemnification is unlawful;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.75pt 0pt 6pt; text-align: justify; text-indent: 0.5in">f. subject
to the proviso in Section 6(a) hereof, in connection with any dispute or breach arising under any contract or similar obligation
between the Company or any of its subsidiaries or affiliates and such Board Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.05pt 0pt 6pt; text-align: justify; text-indent: 0.25in">7. <U>Insurance.</U>
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
employees, or agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit
plan or other enterprise that such person serves at the request of the Company, the Board Director shall be covered by such policy
or policies in accordance with its or their terms to the maximum extent of the coverage available for any director, officer, employee,
agent or fiduciary under such policy or policies. If, at the time of the receipt of a notice of a Proceeding pursuant to the terms
hereof, the Company has directors&rsquo; and officers&rsquo; insurance in effect, the Company shall give prompt notice of the commencement
of such Proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter
take all necessary or desirable action to cause such insurers to pay, on behalf of the Board Director, all amounts payable as a
result of such Proceeding in accordance with the terms of such policies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.05pt 0pt 6pt; text-align: justify; text-indent: 0.25in">8. <U>Continuation
of Indemnification.</U> All Exhibits and obligations of the Company contained herein shall continue during the period that the
Board Director is a director of the Company (or is or was serving at the request of the Company as an agent of another enterprise,
foreign or domestic) and shall continue thereafter so long as the Board Director shall be subject to any Proceeding by reason of
the fact that the Board Director is or was a director of the Company or is or was serving in any other capacity referred to in
this Section 8. This Exhibit shall continue in effect regardless of whether the Board Director continues to serve as a director
of the Company or as an agent of another enterprise at the Company&rsquo;s request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.05pt 0pt 6pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.7pt 0pt 5pt; text-align: justify; text-indent: 0.25in">9. <U>Indemnification
Hereunder Not Exclusive.</U> The indemnification provided by this Exhibit shall not be deemed to be exclusive of any other rights
to which the Board Director may be entitled under the Articles, Board Member Agreement, any Exhibit, vote of shareholders or vote
of Disinterested Directors, provisions of applicable law, or otherwise, both as to action or omission in the Board Director&rsquo;s
official capacity and as to action or omission in another capacity on behalf of the Company while holding such office.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.7pt 0pt 5pt; text-align: justify; text-indent: 0.25in">10. <U>Security</U>.
To the extent requested by the Board Director and approved by the Board, the Company may at any time and from time to time provide
security to the Board Director for the Company&rsquo;s obligations hereunder through an irrevocable bank line of credit, funded
trust or other collateral. Any such security, once provided to the Board Director, may not be revoked or released without the prior
written consent of the Board Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12pt 0pt 5pt; text-align: justify; text-indent: 0.25in">11. <U>Separate
Obligations.</U> The Company acknowledges that it has entered into this Exhibit and assumes the obligations imposed on it hereby,
in addition to and separate from its obligations to Board Director under the Articles, Board Member Agreement or otherwise to induce
Board Director to serve, or continue to serve, as a director of the Company, and the Company acknowledges that Board Director is
relying upon this Exhibit in serving as a director of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12.7pt 0pt 5pt; text-align: justify; text-indent: 0.25in">12. <U>Interpretation
of Exhibit.</U> It is understood that the parties hereto intend this Exhibit to be interpreted and enforced so as to provide indemnification
to Board Director to the fullest extent now or hereafter permitted by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12pt 0pt 5pt; text-align: justify; text-indent: 0.25in">13. <U>Subrogation.</U>
In the event of payment under this Exhibit, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of the Board Director, who shall execute all documents required and shall do all acts that may be necessary to secure
such rights and to enable the Company effectively to bring suit to enforce such rights separate and distinct so that if any section,
sentence, term or provision thereof shall be held to be invalid, unlawful or unenforceable for any reason, such invalidity, unlawfulness
or unenforceability shall not affect the validity, lawfulness or enforceability of any other section, sentence, term or provision
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15pt 0pt 6pt; text-align: justify; text-indent: 0.25in">14. <U>Savings
Clause.</U> If this Exhibit or any section, sentence, term or provision hereof is invalidated on any ground by any court of competent
jurisdiction, the Company shall nevertheless indemnify the Board Director as to any Expenses which are incurred with respect to
any Proceeding to the fullest extent permitted by any (a) applicable section, sentence, term or provision of this Exhibit that
has not been invalidated or (b) applicable law. To the extent required, any section, sentence, term or provision of this Exhibit
may be modified by a court of competent jurisdiction to preserve its validity and to provide the Board Director with the broadest
possible indemnification permitted under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15pt 0pt 6pt; text-align: justify; text-indent: 0.25in">15. <U>Attorneys&rsquo;
Fees</U>. In the event a lawsuit or other Proceeding is instituted by any party concerning a dispute under this Agreement, the
prevailing party in such lawsuit or other Proceeding shall be entitled to recover from the losing party all reasonable attorneys&rsquo;
fees, costs of suit and expenses (including fees, costs and expenses of appeals), in addition to whatever damages or other relief
the injured party is otherwise entitled to under law and in connection with such dispute.</P>



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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252" /><meta name="GENERATOR" content="MSHTML 8.00.7601.18094" /></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><font style="font-size: 14pt;"><strong>XBiotech Adds Dr. Peter Libby, Renowned Cardiologist and Research Pioneer in Inflammation and Cardiovascular Disease, to its Corporate Board</strong></font></p><p style="text-align: center;"><strong></strong></p><p>
 <p align="justify">AUSTIN, Texas, July  10, 2019  (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: XBIT) announced today that Peter Libby, M.D., has been appointed to the Company&#8217;s Corporate Board of Directors.&#160; Dr. Libby has played a pioneering role in discovering how inflammation leads to cardiovascular disease. Dr. Libby is a practicing cardiovascular specialist at Brigham and Women&#8217;s Hospital in Massachusetts and he is Mallinckrodt Professor of Medicine at Harvard Medical School.<br /></p>  <p align="justify">Dr. Libby leads a research group at Harvard Medical School and the Brigham and Women&#8217;s Hospital, which recently discovered a novel mechanism by which interleukin-1 alpha (IL-1&#9082;) may lead to heart attack and stroke. XBiotech&#8217;s anti-inflammatory drug, bermekimab, blocks the action of IL-1&#9082; and has been granted fast track approval by the FDA in cardiovascular medicine.</p>  <p align="justify">Dr. Libby commented, &#8220;I have a long-term interest in inflammation in cardiovascular diseases, and in novel therapies to address this and other diseases, including cancer.&#160; Targeting pro-inflammatory cytokines offers considerable promise, and I look forward to helping XBiotech translate advances in inflammation biology to the clinic.&#8221;</p>  <p align="justify">Dr. Libby has authored over 400 original publications in peer reviewed journals and is Editor of the leading textbook of cardiovascular medicine, <em>Braunwald&#8217;s Heart Disease</em>.&#160; A recent publication from Dr. Libby&#8217;s laboratory described for the first time a potential role of IL-1&#9082; in the formation of blood clots that lead to heart attack or stroke. These findings suggest a possible therapeutic role for bermekimab to limit injury related to heart attack and stroke.</p>  <p align="justify">John Simard, XBiotech&#8217;s President &amp; CEO, stated, &#8220;Dr. Libby is at the forefront of inflammation biology and cardiovascular medicine. He has played leading roles in elucidating mechanisms behind some of the most prominent drugs in medicine. Dr. Libby will bring important perspective to XBiotech&#8217;s board.&#8221;</p>  <p align="justify"><strong>About Peter Libby, M.D.</strong> <br />Peter Libby, MD, is a cardiovascular specialist at Brigham and Women&#8217;s Hospital in Boston, Massachusetts, and holds the Mallinckrodt Professorship of Medicine at Harvard Medical School (HMS). &#160;His areas of clinical expertise include general and preventive cardiology. His current major research focus is the role of inflammation in vascular diseases such as atherosclerosis.&#160; Dr. Libby has a particular devotion to translate his basic laboratory studies to pilot and then large-scale clinical cardiovascular outcome trials. Dr. Libby is continually named a top cardiologist. His research has received funding from the American Heart Association and National Institutes of Health. Dr. Libby has received world-wide research recognitions including the highest research awards from the American Heart Association and American College of Cardiology, the Gold Medal of the European Society of Cardiology, the Anitchkow award from the European Atherosclerosis Society, The Ernst Jung Gold Medal for Medicine, and the Earl Benditt award for vascular biology. The author of well over 400 original peer-reviewed publications, over 500 reviews, chapters, or other publications, Dr. Libby also serves as an Editor of the leading textbook of cardiovascular medicine <em>Braunwald&#8217;s Heart Disease</em>. Dr. Libby earned his medical degree at the University of California, San Diego, and completed his training in internal medicine and cardiology at the Peter Bent Brigham Hospital (now Brigham and Women&#8217;s Hospital). He also holds an honorary MA degree from Harvard University, and honorary doctorates from the University of Lille and Universit&#233; Laval.</p>  <p align="justify"><strong>About True Human&#153; Therapeutic Antibodies<br /></strong>XBiotech&#8217;s True Human&#153; antibodies are derived without modification from individuals who possess natural immunity to certain diseases. With discovery and clinical programs across multiple disease areas, XBiotech&#8217;s True Human antibodies have the potential to harness the body&#8217;s natural immunity to fight disease with increased safety, efficacy and tolerability.</p>  <p align="justify"><strong>About&#160;XBiotech</strong><strong><br /> </strong>XBiotech is a fully integrated global biosciences company dedicated to pioneering the discovery, development and commercialization of therapeutic antibodies based on its True Human&#153; proprietary technology. XBiotech currently is advancing a robust pipeline of antibody therapies to redefine the standards of care in oncology, inflammatory conditions and infectious diseases. Headquartered in Austin, Texas, XBiotech also is leading the development of innovative biotech manufacturing technologies designed to more rapidly, cost-effectively and flexibly produce new therapies urgently needed by patients worldwide. For more information, visit www.xbiotech.com.</p>  <p align="justify"><strong>Cautionary Note on Forward-Looking Statements<br /></strong>This press release contains forward-looking statements, including declarations regarding management's beliefs and expectations that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "would," "could," "expects," "plans," "contemplate," "anticipates," "believes," "estimates," "predicts," "projects," "intend" or "continue" or the negative of such terms or other comparable terminology, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to inherent risks and uncertainties in predicting future results and conditions that could cause the actual results to differ materially from those projected in these forward-looking statements. These risks and uncertainties are subject to the disclosures set forth in the "Risk Factors" section of certain of our SEC filings. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.</p>  <p><strong>Contact</strong><br />Ashley Otero<br />aotero@xbiotech.com<br />512-386-2930&#160;</p> </p><p /></body></html>
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