Key Developments: BioTime Inc (BTX)
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18 Jun 2013
$0.14 (+3.59%)
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Latest Key Developments (Source: Significant Developments)
Biotime Inc Closes On $9 Million Financing
Biotime Inc announced that it has closed the equity financing it announced on June 3, 2013 and received gross proceeds of $9,057,966. BioTime intends to use the net proceeds from the sale of common shares and warrants for working capital and other general corporate purposes, and may invest a portion of the proceeds in one or more of subsidiaries, including funding of the expansion of the LifeMap Sciences, Inc. product development and research programs. Full Article
Biotime Inc Announces CFO Succession Plan
Biotime Inc announced that its Senior Vice President and Chief Operating Officer, Robert W. Peabody, will reassume the additional role of Chief Financial Officer on May 10, 2013. BioTime`s current Chief Financial Officer, Peter S. Garcia, has resigned his position with BioTime and its subsidiaries effective May 10, 2013. Full Article
Biotime Inc's Subsidiary Announces Partnership With Appistry Inc
LifeMap Sciences, Inc., a subsidiary of BioTime, Inc. announced a collaborative partnership and value-added reseller agreement with Appistry, Inc., which provides big-data computing that supports life-science and medical analytics at hospitals and medical research centers and organizations. The intent of the partnership is to integrate LifeMap`s GeneCards and MalaCards databases of human genes and diseases into the DNA and RNA sequence analysis outputs and reports produced by Appistry's edge Ayrris computing environment. Appistry will market reports that include the GeneCards and MalaCards data to clinicians and researchers under a revenue share arrangement with LifeMap, based on sales of such reports. Full Article
Biotime Inc And Romulus Films Ltd Agree To Accelerate Closing Date For Second Tranche Of $5 Million Financing
Biotime Inc announced it has amended its $5 million Stock and Warrant Purchase Agreement with Romulus Films, Ltd., originally signed on January 4, 2013. Through the amendment, BioTime and Romulus have agreed to accelerate the closing date for the $3 million second tranche of the $5 million financing. The first $2 million tranche under the agreement was funded in January 2013. The second tranche was originally intended to close later this year concurrent with the closing of the acquisition of certain stem cell assets by BioTime`s subsidiary BioTime Acquisition Corporation (BAC) pursuant to an Asset Contribution Agreement among BioTime, BAC, and Geron Corporation. Under the amendment, the remaining $3 million investment in BioTime will be funded on April 10, 2013. Romulus has also committed to invest $5 million in BAC in conjunction with the consummation of the stem cell asset acquisition, which is expected to occur later this year. Full Article
Biotime Inc Submits Protocol For Initiation Of Human Clinical Trials Of Renevia In Europe
Biotime Inc announced it has submitted a Clinical Investigation Protocol (CIP) to European regulatory authorities for approval to initiate studies for its Renevia stem cell delivery platform. The Principal Investigator for the studies will be Ramon Llull, MD, and the planned trials will be conducted at the Stem Center, Palma de Mallorca, Spain. The initiation of human clinical studies is expected in second quarter of this year upon approval of the CIP. In the clinical application described in this CIP, Renevia will be used as a delivery matrix for autologous adipose cells in order to restore subcutaneous tissue lost as a result of injury, oncologic resection, or congenital defects. Restoration of the normal skin contour is an important quality-of-life issue, not only in elective cosmetic procedures, but also in reconstructive surgeries needed to repair deformities and traumatic injuries to the face and upper extremities. Full Article
Biotime Inc And BioTime Acquisition Corporation Jointly Enters Into Definitive Asset Contribution Agreement With Geron Corporation
Biotime Inc and its recently formed subsidiary BioTime Acquisition Corporation (BAC) jointly announced that they have entered into a definitive Asset Contribution Agreement with Geron Corporation to acquire the intellectual property, including patents and patent applications, and other assets related to Geron`s human embryonic stem (hES) cell programs. Under the definitive agreement, Geron will contribute to BAC intellectual property, certain cell lines and other assets, including the Phase 1 clinical trial of hES cell-derived oligodendrocytes in patients with acute spinal cord injury, and Geron`s autologous cellular immunotherapy program. BioTime will contribute to BAC $5 million in cash, 8,902,077 BioTime common shares to be held by BAC, five-year warrants to purchase 8,000,000 common shares of BioTime at a price of $5.00 per share (BioTime Warrants), rights to use certain clinical grade hES cell lines, a sublicense to use certain patents for stem cell differentiation technology, and minority stakes in two of BioTime`s subsidiaries, OrthoCyte Corporation and Cell Cure Neurosciences Ltd. BAC will also pay to Geron royalties on the sale of products that are commercialized, if any, in reliance upon Geron patents contributed or licensed to BAC. A private investor has also agreed to provide an equity investment of $5 million in BAC and a $5 million equity investment in BioTime in conjunction with the transaction. Full Article
Biotime Inc's LifeMap Sciences Inc Launches LifeMap Discovery For Database Of Human Cellular Life For Field Of Regenerative Medicine
LifeMap Sciences Inc., a subsidiary of BioTime Inc. announced the launch of LifeMap Discovery (discovery.lifemapsc.com), a roadmap of embryonic development and stem cell biology. The platform integrates embryonic development and stem cell biology with molecular, cellular, anatomical, and disease-related information, and provides data-mining capabilities and bioinformatics applications. LifeMap Discovery is a unique and powerful tool for research and discovery in multiple disciplines, including stem cell biology, developmental biology, disease mechanisms and etiology, and drug and therapeutic discovery and development. This new and innovative database is a central element in LifeMap`s discovery platform for biomedical and stem cell research, which also includes GeneCards, the human gene database, and MalaCards, the human disease database. Full Article
Biotime Inc Forms BioTime Acquisition Corporation
Biotime Inc announced that it has formed a new wholly owned subsidiary, BioTime Acquisition Corporation, to pursue opportunities and acquire assets and businesses in the fields of stem cells and regenerative medicine. Full Article
BioTime, Inc. Signs Agreements With Jade Therapeutics for Ophthalmological Drug Delivery Applications Of HyStem Technology
BioTime, Inc. announced the signing of an exclusive sublicense agreement and a supply agreement with Jade Therapeutics, LLC, a developer of an ophthalmological therapeutic sustained-release drug delivery platform. Under the agreements, BioTime will provide Jade with clinical-grade HyStem hydrogels and certain patented technology for use by Jade Therapeutics in the development of new pharmaceutical products for ophthalmologic use. Jade plans to utilize the hydrogels to facilitate time-release topical delivery of recombinant human growth hormone to help heal lesions on the ocular surface. Jade Therapeutics will retain rights to market their product upon completion of development and obtaining marketing approval. Financial terms of the transaction were not disclosed. Full Article
BioTime, Inc. And Subsidiary LifeMap Sciences, Inc. Announce Agreement To Market Malacards
BioTime, Inc. announced that its subsidiary LifeMap Sciences, Inc. has entered into a license agreement with Yeda Research and Development Company Ltd, the technology transfer arm of the Weizmann Institute of Science, to market a new database called MalaCards. A database of human diseases that is based on the GeneCards platform, MalaCards contains computerized cards classifying information relating to a wide array of human diseases. Full Article
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