- SECTOR: Health Care
- INDUSTRY: Health Care
- SUB-INDUSTRY: Biotech & Canadian pharma
- FOUNDED: 09/24/2012
- ADDRESS: 6300 Dumbarton Circle Fremont, CA 94555 United States
- PHONE: 1-510-298-3247
- WEBSITE: asteriasbiotherapeutics.com
- EMAIL: email@example.com
- NO. OF EMPLOYEES: —
The latest news informed about the merger of Asterias with BioTime. BioTime (ALAMEDA, Calif.–(BUSINESS WIRE)–BioTime, Inc. (NYSE American and TASE: BTX) has bought the common stock of the regeneration medicine company. It had planned that merger a long time ago and finally had accomplished the acquisition. Since now, Asterias Biotherapeutics exists only as a 100% subsidiary, so all operations are agreed with the holding company. The merger raised no objections among the members of both companies according to the results of the vote. Only 2% of BioTime and 4% of Asterias did not support the decision.
After becoming the subsidiary company, the Chairman and the Chief of the Executive Officer of Asterias joined the Board of Directors of the holding company. D. Bailey and M. Mulroy are working together with the existing BioTime staff of managers that faced no changes. At the moment, the company is developing three types of medication that require cell regeneration:
- loss of myelin which provokes neurological problems connected with fatigue, cognitive impairment, vision problems, behavioral changes, and altered sensations;
- degeneration of the retina and related diseases;
- cancer diagnostics and challenging.
Brian M. Culley stresses the positive sides of the acquisition. He explains that the prior purpose of the merger is to introduce BioTime as a revolutionary company that would become a leading expert in cell therapy. Its goal is to apply innovative approaches to initiate a new era in the treatment of diseases that are usually associated with untreatable ones. He believes that the knowledge of both companies will turn stem cells into a powerful weapon against diseases that have been terrorizing humanity for hundreds of years. The Chief Executive Officer expects to experience financial benefits thanks to this acquisition and the production of cGMP in Jerusalem. Israel facilities allowed the company to get the required results to go on OpRegen® testing. Today, he can use the achievements of Asterias as the basis for the innovative therapy. The acquired company was not able to improve the quality of their products alone, but together with BioTime, it will surely witness the desired progress. Besides, BioTime has influential partners like the United Kingdom Cancer Research and CIRM. The Chief Executive plans to continue their partnership that will favor the clinical trials of VAC2 and OPC1 that also belong to their innovative program. The companies know that their progress is impossible without patients who agree to participate in the trials and advocacies who have the power to advertise the process and make it valuable to the target patients who need effective aid.
BioTime has launched the testing of three therapy types.
- The company is improving cell replacement therapy that deals with a retinal pigment epithelium. Its scientists are testing OpRegen® in a multicenter clinical trial on I and IIa phases that involve patients with dry-AMD with geographic atrophy. The American FDA has approved its development and marked it as the product of prior importance. So, specialists do not procrastinate testing the therapy and recording the received benefits and side effects.
- The second therapy concerns oligodendrocyte progenitor cells. It is tested on the same I and IIa stages but therapy is related to acute injuries of the spinal cord. The California Institute of Regenerative Medicine invested over 14 million dollars for OPC1 development. It was granted two designations by the US Food and Drug Association (Orphan Drug) and RMAT (SCI treatment).
- Cancer Research UK is a 100% sponsor of the third therapy type that aims to cope with cancer, NSCLC in particular. It is an independent charity institution that participates in the development of cancer medication. UK scientists involve donor’s antigen-presenting dendritic cells. They have not yet finished the first phase of the VAC-2 trial.
The merger of two companies rewarded the holding company with 84% of shares of common stock and the subsidiary company got 16%. Maxim Group LLC was the financial advisor and Cooley LLP was the legal counsel of BioTime in the transaction. R.James and Dentons LLP had the same positions in Astera.
About BioTime, Inc.
The company has acquired a reputation as an advanced biotechnology organization in the sphere of cellular therapies. At the moment, BioTime is developing medication for neurological diseases, cancer, and retinal disorders that demand regeneration approaches. The company has platforms whose purpose is to discover and generate regenerative cells for human bodies using specific materials of forebears. The mentioned differentiated cells aim at substituting injured cells and those lost during the disease as cancer, dry-AMD, or after acute injuries of body parts, including the spinal cord. It means that they want to help a human organism withstand cancer and previously untreatable diseases. The Company is running three clinical trials of its three cell therapy types at the moment.
The first therapy is on the second trial stage and is for patients with dry-AMD that often results in blindness and requires cell regeneration. The medical world knows it as OpRegen®. The second therapy is on the same testing level, but its goal is to help patients with acute spinal injuries recover thanks to new cells that substitute lost and dead ones. It got the OPC1 name. The third therapy aims at revealing and defeating cancer cells and overall recovery after disease. At the moment, the Company together with the charity British Cancer Research institution trials VAC2 for lung cancer therapy only. The official website biotimeinc.com can provide you with more data.
Safe Harbor Statements
This article includes information that does not have historical or factual support. They are marked with forward-looking words like ‘will’, ‘should’, ‘plan’, ‘believe’, etc. regarding the 1995 Reform Act of the Private Securities Litigation. These statements are not certain. It means that it may differ from reality because its goal is to predict the situation in the future. The article has considered all the uncertainties and risks when presenting the data. So, one should keep in mind the difference between actual financial and business aspects of BioTime or its subsidiary companies and the ‘forward-looking statements’ introduced above. BioTime presents these statements in the section called “Risk Factors” that is a part of the Company’s yearly and quarterly reports on 10-K and 10-Q forms. One can find its copies on sec.gov. Consequently, the Company has the right to change plans regarding the ongoing situation. So, BioTime is not going to report about the taken decision concerning changes related to those statements, unless the law demands it.
|Market Capitalization $M
Earnings Per Share (TTM)
Revenue Growth YoY
5-Year Avg. Revenue Growth
5-Year Avg. Profit Growth
1-Year Total Return
3-Year Total Return
5-Year Total Return
Trailing Annual Dividend & Yield0.00 0.00%
Forward Annual Dividend & Yield0.00 0.00%
Most Recent DividendN/A
Most Recent SplitN/A N/A
Return on Common Equity-71.45%
Return-on-Assets (Before Tax)-54.51%
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