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
