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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.
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July 14, 2014
09:05 EDTBTXBioTime announces issuance of 14 patents
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