- Draft registration statement filed on Form 10 with the U.S. Securities
and Exchange Commission -
ALAMEDA, Calif.--(BUSINESS WIRE)--Jun. 8, 2018--
BioTime, Inc. (NYSE American: BTX), a clinical-stage biotechnology
company focused on degenerative diseases, announced that a draft
registration statement on Form 10 was submitted to the U.S. Securities
and Exchange Commission (the “SEC”). The draft registration statement
relates to the proposed distribution of some or all of BioTime’s shares
of AgeX Therapeutics, Inc. (“AgeX”) common stock, on a pro rata basis,
to BioTime’s shareholders of record as of a date to be determined.
This distribution of AgeX shares will be subject to market, tax and
legal conditions, including the SEC declaring the registration statement
effective, and final approval by the AgeX and BioTime boards of
directors. AgeX intends to apply to list its common stock under the
ticker symbol “AGE” on a U.S. stock exchange.
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
AgeX Therapeutics, Inc., a subsidiary of BioTime, Inc. (NYSE American:
BTX), is a biotechnology company focused on the development of novel
therapeutics for age-related degenerative disease. The company’s mission
is to apply the proprietary technology platform related to
telomerase-mediated cell immortality and regenerative biology to address
a broad range of diseases of aging. The products under development
include two cell-based therapies derived from telomerase-positive
pluripotent stem cells and two product candidates derived from the
company’s proprietary induced Tissue Regeneration (iTR™) technology.
AGEX-BAT1 and AGEX-VASC1 are cell-based therapies in the preclinical
stage of development comprised of young regenerative cells formulated in
the company’s proprietary HyStem® matrix designed to correct
metabolic imbalances in aging and to restore vascular support in
ischemic tissues respectively. AGEX-iTR1547 is a drug-based formulation
in preclinical development intended to restore regenerative potential in
a wide array of aged tissues afflicted with degenerative disease using
the company’s proprietary iTR technology. Renelon™ is a first-generation
iTR product designed to promote scarless tissue repair which the Company
plans to initially develop as a topically-administered device for
commercial development through a 510(k) application. In addition to the
product candidates in early development, the company, through its
LifeMap subsidiary, currently markets genomic interpretation algorithms.
In addition, the company, through its ESI BIO division, markets Cytiva®,
comprised of PSC-derived heart muscle cells used in screening drugs for
efficacy and safety.
For more information, please visit www.agexinc.com
or connect with the company on Twitter or Facebook.
About BioTime, Inc.
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 developing countries. 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
connect with the company on Twitter, LinkedIn, Facebook, YouTube,
To receive ongoing BioTime corporate communications, please click on the
following link to join the Company’s email alert list: http://news.biotime.com.
Certain statements contained in this release are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements pertaining to the potential separation of
AgeX including through the distribution of its shares, along with other
statements about the future expectations, beliefs, goals, plans, or
prospects expressed by management constitute forward-looking statements.
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. Forward-looking statements involve risks and
uncertainties. Actual results may differ materially from the results
anticipated in these forward-looking statements and as such should be
evaluated together with the many uncertainties that affect the business
of BioTime, Inc. and its subsidiaries, particularly those mentioned in
the cautionary statements found in more detail in the “Risk Factors”
section of BioTime’s Annual Reports on Form 10-K and Quarterly Reports
on Form 10-Q filed with the SEC (copies of which may be obtained at www.sec.gov).
Subsequent events and developments may cause these forward-looking
statements to change. BioTime specifically disclaims any obligation or
intention to update or revise these forward-looking statements as a
result of changed events or circumstances that occur after the date of
this release, except as required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180608005172/en/
Source: BioTime, Inc.
David Nakasone, (510) 871-4188