|BioTime Announces July 31, 2018 Record Date for the Distribution of AgeX Therapeutics Shares|
- Distribution to
- Distribution Ratio and Distribution Date to be announced at a later date -
The record date for determining holders of BioTime common shares
entitled to receive shares of AgeX common stock in the distribution will
be the close of business on July 31, 2018. The final distribution ratio
will be determined by the BioTime Board of Directors. BioTime expects
the distribution to occur by the end of
BioTime shareholders will not be required to take any action in order to receive the AgeX distribution, meaning that they will not have to surrender or exchange BioTime common shares in order to receive AgeX shares.
Currently, there is no trading market for AgeX common stock, and there can be no assurance that an active public market will ever develop. AgeX plans to apply to list its common stock for trading on the NYSE American under the ticker symbol AGE, however, there can be no assurance that AgeX’s listing application will be approved. Completion of the distribution of AgeX shares to BioTime shareholders is subject to the satisfaction of certain conditions, including the Registration Statement on Form 10, filed by AgeX, declared effective by the Securities and Exchange Commission (“SEC”).
For more detail on AgeX’s business, risk factors, and uncertainties,
shareholders should carefully review the draft Information Statement
filed as an exhibit to AgeX’s Form 10 Registration Statement filed with
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About AgeX Therapeutics
BioTime is a clinical-stage biotechnology company focused on degenerative diseases. Its clinical programs are based on two platform technologies: cell replacement and cell/drug delivery. With its cell replacement platform, BioTime is producing new cells and tissues with its proprietary pluripotent cell technologies. These cells and tissues are developed to replace those that are either rendered dysfunctional or lost due to degenerative diseases or injuries. BioTime’s cell/drug delivery programs are based upon its proprietary HyStem® cell and drug delivery matrix technology. HyStem® was designed, in part, to provide for the transfer, retention and/or engraftment of cellular replacement therapies. BioTime’s lead cell delivery clinical program is Renevia®, which consists of HyStem® combined with the patient's own adipose (fat) progenitor cells. Renevia® met its primary endpoint in an EU pivotal clinical trial for the treatment of facial lipoatrophy in HIV patients in 2017. BioTime has submitted Renevia® for CE Mark approval in the EU. There were no device related serious adverse events reported to date. BioTime’s lead cell replacement product candidate is OpRegen®, a retinal pigment epithelium transplant therapy, which is in a Phase I/IIa multicenter clinical trial for the treatment of dry age-related macular degeneration, the leading cause of blindness in the developed world. There were no unexpected serious adverse events reported to date. BioTime also has significant equity holdings in two publicly traded companies, Asterias Biotherapeutics, Inc. (NYSE American: AST) and OncoCyte Corporation (NYSE American: OCX), and a private company, AgeX Therapeutics, Inc.
BioTime common stock is traded on the NYSE American and TASE under the
symbol BTX. For more information, please visit www.biotime.com or
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Certain statements contained in this release are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Any statements that are not historical fact
including, but not limited to statements that contain words such as
“will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”
should also be considered forward-looking statements. Investors are
cautioned that statements in this press release regarding: (a) any value