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January 7, 2013
07:36 EDTBTX, GERNBioTime signs definitive agreement with Geron regarding stem cell assets
BioTime (BTX) and its recently formed subsidiary BioTime Acquisition Corporation announced that they have entered into a definitive Asset Contribution Agreement with Geron Corporation (GERN) to acquire the intellectual property, including patents and patent applications, and other assets related to Geronís human embryonic stem cell programs consistent with the financial terms outlined in the letter of intent announced on November 15, 2012. 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 Geronís autologous cellular immunotherapy program. BioTime will contribute to BAC $5M 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, 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 BioTimeís 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 $5M in BAC and a $5M equity investment in BioTime in conjunction with the transaction. The transaction is expected to close no later than September 30.
News For BTX;GERN From The Last 14 Days
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October 7, 2015
16:18 EDTBTXBioTime unit OncoCyte files registration statement for planned distribution
BioTime and its subsidiary OncoCyte Corporation announced that OncoCyte has filed a Form 10 Registration Statement with the Securities and Exchange Commission in connection with BioTime's planned distribution OncoCyte common stock to holders of BioTime common shares, on a pro rata basis. The filing represents an important milestone in separating BioTime's therapeutics and cancer diagnostics businesses. BioTime expects that the distribution will provide OncoCyte with greater access to capital markets in order to obtain its own financing for its operations, separately from BioTime financings. The distribution will also allow BioTime and OncoCyte to each focus on its own strategic priorities relating to its own management, capital structure, business model, and financial goals. The distribution may also provide enhanced liquidity to holders of BioTime common shares, who after the distribution will hold two separate publicly traded securities that they may choose to monetize or retain. BioTime continues to believe in the opportunity for cancer diagnostics and expects to continue to own a majority of the outstanding common stock in OncoCyte immediately after the distribution. The "record date" for determining BioTime shareholders entitled to receive OncoCyte common stock in the planned distribution, and the date on which the distribution will occur, have not yet been determined. However, BioTime's plan is to effect the distribution to BioTime shareholders in late 2015, subject to certain conditions.
October 2, 2015
09:03 EDTBTXBioTime agrees to sell $5.1M of equity
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September 30, 2015
05:33 EDTBTXHeraeus Medical and BioTime subsidiary enter into exclusive worldwide agreement
Heraeus Medical GmbH and BioTime announced that BioTime's subsidiary OrthoCyte Corporation and Heraeus Medical have entered into exclusive development and worldwide licensing agreements for the development of innovative bone grafting therapies based on the use of BioTime's proprietary PureStem human embryonic progenitor cell technology. Under the terms of the development agreement, Heraeus Medical would make an initial $1M upfront payment to OrthoCyte, and additional payments upon OrthoCyte's attainment of certain product development milestones, and Heraeus will fund all ongoing product development activities through IND submission. Heraeus Medical will be responsible for worldwide sales if a product is successfully developed, can be demonstrated through clinical trials to be safe and effective, and receives regulatory approval for marketing. OrthoCyte will be responsible for product development and initially for manufacturing. Pursuant to the terms of the license agreement, OrthoCyte has licensed certain technology to Heraeus, and Heraeus has licensed certain technology to OrthoCyte. The license grant by OrthoCyte to Heraeus is exclusive and worldwide in the field of bone grafting for all osteoskeleton diseases and injuries, except oral maxillofacial. The license grant by Heraeus to OrthoCyte is exclusive and worldwide in all other fields. Pursuant to the license agreement, each of Heraeus and OrthoCyte will pay certain specified royalties to each other based on their respective net sales of the product developed under the development agreement.
September 28, 2015
08:04 EDTBTXBioTime, Cell Cure Neurosciences receive FDA fast track designation for OpRegen
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September 25, 2015
17:10 EDTBTXBioTime to sell $20.7M of common stock in registered direct offering
BioTime announced that it has agreed to sell up to $20.7M of its common shares in a registered direct offering to select investment funds in Israel that hold shares of companies that are included within certain stock indexes of the Tel Aviv Stock Exchange. The price per share will be determined with reference to the closing price of BioTime common shares on the TASE on the trading day immediately preceding the first day on which BioTime common shares enter the TASE stock indexes. The sale of the common shares is expected to close on or about October 1, 2015, subject to the satisfaction of customary closing conditions. The amount of aggregate proceeds from the sale and the total number of shares sold will depend upon the market price of BioTime common shares and the number of BioTime common shares the investment funds need to purchase from BioTime to put their portfolios in balance with the TASE stock indexes that they track. BioTime will pay Union Underwriting & Finances Ltd an investment banking fee in the amount of 1% of the aggregate purchase price of the common shares sold.

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