<SEC-DOCUMENT>0001144204-12-035344.txt : 20120619
<SEC-HEADER>0001144204-12-035344.hdr.sgml : 20120619
<ACCEPTANCE-DATETIME>20120619091911
ACCESSION NUMBER:		0001144204-12-035344
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120619
FILED AS OF DATE:		20120619
DATE AS OF CHANGE:		20120619

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			XTL BIOPHARMACEUTICALS LTD
		CENTRAL INDEX KEY:			0001023549
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51310
		FILM NUMBER:		12913859

	BUSINESS ADDRESS:	
		STREET 1:		XTL BIOPHARMACEUTICALS LTD
		STREET 2:		C/O ALSTON & BIRD LLP, 90 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		972 9 955 7080

	MAIL ADDRESS:	
		STREET 1:		85 MEDINAT HAYEHUDIM ST.
		STREET 2:		PITUACH, PO BOX 4033
		CITY:			HERZLIYA
		STATE:			L3
		ZIP:			46140
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>v316385_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></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"><B>Form 6-K</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Report of Foreign Private Issuer</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Rule 13a-16 or 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></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">For the month of June, 2012</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">Commission File Number: <B>000-51310</B></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"><U>&#9;<B>XTL Biopharmaceuticals Ltd.&#9;</B></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of registrant&rsquo;s name
into English)</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"><B>85 Medinat Hayehudim St., Herzliya<BR>
Pituach, PO Box 4033,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>_________Herzliya 46140, Israel</U>_________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</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">Indicate by check mark whether the registrant files or will
file annual reports under cover Form 20-F or Form 40-F.</P>

<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: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Form<U> </U>20-F&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT> </TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Form 40-F&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<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">Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): <FONT STYLE="font-family: Wingdings">&#168;</FONT></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">Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): <FONT STYLE="font-family: Wingdings">&#168;</FONT></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">Indicate by check mark whether by furnishing the information
contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.</P>

<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">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; padding: 0; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; padding: 0; text-align: center">Yes&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 15%; padding: 0; text-align: center">No&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="width: 35%; padding: 0; text-align: center"></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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If &ldquo;Yes&rdquo; is marked, indicate below the file number
assigned to the registrant in connection with Rule 12g3-2(b): 82-<U> N/A </U>&#9;</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"></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; text-align: justify"><B>Incorporation by Reference: This Form
6-K of XTL Biopharmaceuticals Ltd. dated June 19, 2012 is hereby incorporated by reference into the registration statements on
Form F-3 (File No. 333-141529, File No. 333-147024 and File No. 333-153055) filed by XTL Biopharmaceuticals Ltd. with the Securities
and Exchange Commission on March 23, 2007, October 30, 2007 and August 15, 2008, respectively, and the registration statements
on Form S-8 (File No. 333-148085, File No. 333-148754 and File No. 333-154795) filed by XTL Biopharmaceuticals Ltd. with the Securities
and Exchange Commission on December 14, 2007, January 18, 2008, and October 28, 2008, respectively.</B></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: center"><B>XTL Biopharmaceuticals Ltd. Acquires
Kitov Pharmaceuticals Ltd.</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; text-align: justify; background-color: white">Below&nbsp;is
an English translation (from Hebrew) of an immediate report by XTL Biopharmaceuticals Ltd. as published on the Tel-Aviv Securities
Stock Exchange Ltd.</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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.gif" ALT=""></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: black">Herzliya, Israel
&ndash; June 19, 2012 &ndash; </FONT>In furtherance to the immediate report filed by the Company on April 15, 2012, the Company
is hereby pleased to announce that on June 18, 2012, the Company's board of directors approved entering into an agreement according
to which the Company will acquire the entire issued and outstanding share capital of Kitov Pharmaceuticals Ltd. (&quot;<B>Kitov</B>&quot;),
a company which researches and develops combination drugs. Kitov's lead drug is ready for a phase 3 clinical trial and is focused
on pain induced by osteoarthritis and treatment of hypertension (&quot;<B>Kitov Drugs</B>&quot;).</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">The acquisition of Kitov's share capital
will be completed through a statutory merger of a new subsidiary, NewCo<FONT STYLE="font-size: 8pt"><SUP>1</SUP></FONT>, with
and into Kitov in such a manner that following the merger, NewCo will cease to exist and the Company will acquire 100% of Kitov's
share capital from its shareholders, including all the warrants issued by Kitov to its holders of warrants in consideration of
the following: (1) the allocation of 52,933,014 Ordinary shares of the Company; (2) the allocation of 1,053,789 warrants to purchase
1,053,789 shares of the Company; (3) the allocation of 766,000 special warrants to purchase 766,000 shares of the Company (&quot;<B>the
Special Warrants</B>&quot;) (the securities allocated according to (1) and (3) above will represent 19.9% of the Company's issued
and outstanding share capital upon such allocations); (4) additional payments based on the accomplishment of certain milestones
in the development of the Kitov Drugs, as stipulated in the agreement; and (5) additional payments upon the accomplishment of
commercial milestones, which range accumulatively up to approximately $48 million (&quot;<B>the Milestone Payments</B>&quot;).
The Company, at any time, in its sole discretion has the right to pay the Milestone Payments in its shares (&quot;<B>the share
Swap Agreement</B>&quot;), which will reflect up to approximately 26.4% of the Company's issued and outstanding share capital,
upon the completion of the transaction, respectively. The milestone payments will be effective for a period of 5 years from the
completion of the transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It should be noted that before any of the
milestones are realized according to the Share Swap Agreement, on the date of signing the Share Swap Agreement, the Company will
allocate its securities, which, assuming all the warrants allocated by the Company to Kitov's shareholders as described above are
converted into Company shares, will represent 19.9% of the Company's issued and outstanding share capital on the date of closing
upon such allocation.</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">The execution of the Share Swap Agreement
is contingent on the fulfillment of several prerequisites, among others: (1) the signing of schedules to the Share Swap Agreement
within 21 business days from the date of signing which will satisfy the parties to the share swap agreement. (&quot;<B>the Schedules
Completion</B>&quot;); (2) the completion of a due diligence within 30 business days from the date of signing. If no objections
to the due diligence are</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"></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 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><SUP>1</SUP>A
company which will be incorporated pursuant to the Israeli Companies Law, 1999 for the purpose of carrying out the transaction
which is the subject of this report and will be 100% owned by 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 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">submitted within said period, the due diligence process will be deemed successful (&quot;<B>the Due Diligence
Completion</B>&quot;).; (3) the receipt of a pre-ruling from the Israeli Tax Authority in accordance with Section 104h to the Israeli
Income Tax Ordinance that the sale of Kitov securities and the allocation of the Company's securities to Kitov's shareholders will
not be considered a tax event on the date of closing the transaction; (4) receipt of an independent third-party valuation report,
which will support the consideration as set in the Share Swap Agreement; (5) the receipt of the approval of the general meeting
of the Company's shareholders for the Share Swap Agreement in its entirety; (5) the receipt of the approval of the Tel-Aviv Stock
Exchange for the registration for trade of the securities allocated by the Company to Kitov's shareholders. It was also decided
that if by September 15, 2012, or any other subsequent day as determined with the parties' mutual consent, the above prerequisites
are not fulfilled, the Share Swap Agreement will be cancelled. Additionally, if the Schedules Completion or the Due Diligence Completion
will not be completed within the above set timelines, each party will have the right to cancel the Share Swap Agreement with no
claim to the other party.</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">After the due diligence study is completed
to the satisfaction of the Company and several additional prerequisites are met, the Company intends to issue an immediate report
in respect of a substantial private placement in conformity with the Israeli Securities Regulations (Private Placement of Securities
in a Listed Company), 2000.</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">It should be noted that the Share Swap
Agreement includes certain understandings regarding the terms of office of Dr. Paul Waymack and Mr. Simcha Rock as directors in
the Company, including the Company's Board's recommendation to appoint Dr. Paul Waymack as President and Chairman of the Company's
Board, and the terms of a service agreement regarding his leadership of the clinical and regulatory development of all of the Company's
products, which will be signed between Dr. Waymack and 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 0; text-align: justify">According to the provisions of the Share
Swap Agreement, Kitov's shareholders have undertaken to comply with a voluntary restriction period as follows: (1) 80% of Kitov's
shareholders will not be able to sell their shares during a period of 15 months from the date of closing, followed by a nine-month
period during which they will be able to sell 1% of their shares in the Company in each month. At the end of 24 months from the
date of closing, their shares will be free of any restrictions; (2) the remaining Kitov shareholders (20%) (&quot;<B>the Remaining
Kitov Shareholders</B>&quot;) will not be able to sell their shares for a period of 12 months from the date of closing at the end
of which they will be able to sell 50% of their shares and those restrictions will be lifted at the end of 24 months from the date
of closing. It should be noted that if the Company, at its sole discretion, chooses to provide the Milestone Payments by way of
issuing shares, 50% of these shares will also be subject to the same restriction period. In addition, 50% of the shares issued
for accomplishment of milestones, shall be not be sellable for a period of 15 months from the date of Closing followed by a nine-month
period during which they will be able to sell 1% of their shares in the Company in each month. At the end of 24 months from the
date of closing, their shares will be free of any restrictions. Subject to any 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 0; text-align: justify"></P>

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<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">According to the Share Swap Agreement,
the Company undertook to execute a development plan for one of Kitov's drugs. According to this undertaking, the Company will invest
up to $1.5 million in financing a trial which will commence within the later of: (i) three months from the date of consummation
of the share swap agreement and (ii) six months from the date of signing the Share Swap Agreement, and is expected to be conducted
over a 18 months period. If the Company fails to meet this undertaking to perform the above development plan, excluding cases which
involve an adverse material change in the target field of the Kitov Drugs, the voluntary restriction period will expire for 50%
of the Company's restricted shares allocated to Kitov under the Share Swap Agreement subject to any law. For the removal of doubt
it is hereby clarified that based on Kitov's objective assessments, as presented in the Share Swap Agreement, Kitov will require
an accumulative investment of approximately $9 million in the development of its drugs and until their approval for marketing.</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">The Share Swap Agreement also prescribes
that in the event that the Company raises capital in an amount in excess of $&nbsp;6 million, in a period of up to 18 months from
the closing date, it will pay Kitov's shareholders an aggregate of $200 thousand and then the Special Warrants shall expire. In
case the Company will not complete such capital raise, Kitov's shareholders will be entitled to exercise the Special Warrants allocated
to them in the Share Swap Agreement, and the Company will not pay the $200 thousand as mentioned above.</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">In addition to all of the aforementioned,
the parties agreed that before three days from the signing of the Share Swap Agreement elapse, the Company will provide Kitov a
loan facility totaling up to $&nbsp;50 thousand (&quot;<B>the Loan Facility</B>&quot;) to be used by Kitov to make various payments
involving procedures required in the process of completing the Share Swap Agreement. The Loan will be repaid to the Company with
5% annual interest on the first anniversary from the date of closing. If the transaction is not completed for reasons that are
not under the Kitov's control, the loan will be reduced by 50% and will be repayable with 5% interest per annum to the Company.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.5in; text-align: justify">Respectfully,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: justify; text-indent: 0.5in; background-color: white">XTL
Biopharmaceuticals Ltd.</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; text-indent: 0.5in"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About XTL Biopharmaceuticals, Ltd. (&ldquo;XTL&rdquo;)</B></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; background-color: white">XTL Biopharmaceuticals,
Ltd., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of pharmaceutical products for
the treatment of clinical unmet needs. XTL is focused on late stage clinical development of drugs for the treatment of multiple
myeloma, schizophrenia, and hepatitis C.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">XTL&rsquo;s lead
drug candidate, rHuEPO for the treatment of multiple myeloma blood cancer was granted an orphan drug designation from the FDA.
rHuEPO, has been approved for marketing by the FDA and has for many years been sold for billions of dollars across the world for
the treatment of severe anemia.</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">XTL is a public company traded on the Tel
Aviv Stock Exchange (TASE: XTL) and its ADRs are quoted in the US on the Pink Sheets (OTC: XTLBY).</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">&nbsp;</P>

<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 0; text-align: justify">Contact:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Investor Relations, XTL Biopharmaceuticals
Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tel: +972 9 955 7080, Email: ir@xtlbio.com</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"><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Some of the statements included in this
Form 6-K may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the
protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.</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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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: 33%; padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 18%; padding-right: 0; padding-left: 0; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 49%; padding-right: 0; padding-left: 0; font-weight: bold; text-align: justify"><B>XTL BIOPHARMACEUTICALS LTD</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; font-weight: bold; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">Date: June 19, 2012</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: right">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-decoration: underline; text-align: justify">/s/ David Grossman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">Name: David Grossman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">Title: Chief Executive Officer</TD></TR>
</TABLE>


<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 0; text-align: justify">&nbsp;</P>

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

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