BioTime and Asterias Sign Transfer Agreement and Cross-License Agreement

 

FREMONT, Calif. & ALAMEDA, Calif.–Asterias Biotherapeutics, Inc. (NYSE MKT:AST) and BioTime, Inc. (NYSE MKT and TASE:BTX), both clinical-stage regenerative medicine companies with a focus on pluripotent stem cell technology, and BioTime’s wholly owned subsidiary ES Cell International Pte Ltd (“ESI”), have entered into a Share Transfer Agreement through which BioTime will re-acquire from Asterias shares of capital stock of BioTime subsidiaries Cell Cure Neurosciences Ltd and OrthoCyte Corporation. As a result, OrthoCyte will once again become a wholly-owned subsidiary of BioTime. Asterias will re-acquire from BioTime warrants to purchase 3,150,000 shares of Asterias Series A Common Stock. Under the Asset Transfer Agreement BioTime has agreed that, if Asterias distributes new warrants to its shareholders that will entitle them to purchase additional shares of Asterias Series A Common Stock, BioTime will waive its rights as an Asterias shareholder to receive a pro rata portion of those new warrants.

Subscribe to get the latest news