QualityStocks would like to highlight BioTime (NYSE AMEX:BTX), a biotechnology company focused on regenerative medicine and blood plasma volume expanders. Its broad platform of stem cell technologies is developed through subsidiaries focused on specific fields of applications. BioTime develops and markets research products in the field of stem cells and regenerative medicine, including a wide array of proprietary ACTCellerate(TM) cell lines, culture media, and differentiation kits.
In the company’s news last week,
BioTime announced that the company, along with its wholly owned subsidiary LifeMap Sciences, has signed a definitive agreement to acquire XenneX through a merger of XenneX into LifeMap. The deal is expected to close within 30 days.
XenneX provides biotech, pharmaceutical, and life sciences companies with services and tools to enhance their bio-medical research. The company holds the exclusive, worldwide licenses to market GeneCards®, a searchable, integrated database of human genes; and PanDaTox, a recently developed, searchable database that can be used to identify genes and intergenic regions that are unclonable in E. coli, to aid in the discovery of new antibiotics and biotechnologically beneficial functional genes.
BioTime said that future plans include making LifeMap the principal marketing subsidiary for BioTime research products, as well as to utilize LifeMap’s databases as part of its online marketing strategy.
In addition, BioTime will collaborate with LifeMap scientists to utilize LifeMap’s proprietary discovery platform, stem cell database, and the newly acquired database products to aid in the development of BioTime’s proprietary ACTCellerate™.
Per the agreement, XenneX stockholders will receive approximately 1,362,589 shares of LifeMap common stock, approximately 13 percent of the LifeMap common stock outstanding upon the closing of the transaction; XenneX shareholders will also receive approximately 448,430 BioTime common shares.
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