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Geron Announces Non-Binding Letter of Intent with BioTime Regarding Stem Cell Assets 

 

 

Geron Announces Non-Binding Letter of Intent with BioTime Regarding Stem Cell Assets

November 15, 2012 - (Geron) - "Geron Corporation today announced that the company has entered into a non-binding letter of intent (LOI) with BioTime, Inc. (NYSE: BTX) and BioTime's recently formed subsidiary, BioTime Acquisition Corporation (BAC). The LOI contains broad terms of a potential transaction through which Geron would contribute to BAC its intellectual property and other assets related to Geron's discontinued human embryonic stem cell programs. BioTime would contribute to BAC $5 million in cash, $30 million of BioTime common shares, warrants to purchase eight (8) million shares of BioTime at a pre-specified price (the "BioTime Warrants"), rights to use certain human embryonic stem cell lines, and minority stakes in two of BioTime's subsidiaries."  Read Full Article

 

Posted on 27-Nov-12 by Gallerno, Jacob
Tags: Science and Industry News
 
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