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- Combination of BioTime’s ESI BIO Division and Hepregen to Focus on Next-Generation Metabolism and Safety Screening of New Drugs and Chemicals
- Provides Access to Hepregen’s Current Customer Base of Major Pharmaceutical and Chemical Companies
- BioTime Retains Cell Therapy Opportunities While Gaining Entry to Drug Screening Industry
Ascendance will continue to market Hepregen’s well-known HepatoPac® and HepatoMune® micro-patterned liver products, and plans to develop new and unique cell-based and micro-patterned products using BioTime’s stem cell technologies and broad intellectual property and product portfolio, including BioTime’s PureStem® embryonic progenitors and ESI embryonic stem cells. Ascendance expects that its first stem cell-based product will be targeted to important testing and assay applications in the pharmaceutical and chemical industries. Ascendance also expects to develop additional stem-cell-derived products that will be useful for toxicity testing in the cosmetic, environmental, and food industries.
Ascendance will be led by Hepregen’s Chief Executive Officer, Dr.
“Forming Ascendance as an independent company responsible for its own funding, and with its own sales and marketing capabilities, is aligned with our commitment to focus on therapeutics while allowing
Detailed financial terms of the transaction, and Hepregen’s historical revenue growth, are not being disclosed at this time. In exchange for its contribution of certain assets relating to its research products and related patents and technology,
BioTime’s subsidiaries include the publicly traded Asterias Biotherapeutics, Inc. (NYSE MKT: AST), developing pluripotent stem cell-based therapies in neurology and oncology, including AST-OPC1 and AST-VAC2; Cell Cure Neurosciences Ltd., developing stem cell-based therapies for retinal and neurological disorders, including OpRegen®; OncoCyte Corporation, developing cancer diagnostics;
BioTime common stock is traded on the NYSE MKT and TASE under the symbol BTX. For more information, please visit www.biotimeinc.com or connect with the company on Twitter,
Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for Ascendance Biotechnology,
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