BioTime completes Xennex merger
BioTime has just acquired XenneX.
BioTime and its LifeMap Sciences subsidiary have acquired XenneX in a merger that will see the company transformed into LifeMap Sciences.
Negotiation techniques may have been used to finalise the deal, the definitive merger agreement for which was previously announced on April 20th.
LifeMap Sciences wants to establish itself as the leading resource within the regenerative medicine field and now has the exclusive licences to market GeneCards and PanDaTox from Yeda Research and Development Company.
GeneCards is an online database providing information on all known and predicted human genes.
BioTime noted that biomedical research has grown significantly in recent years and LifeMap Sciences aims to provide a more centralised location for the vast amount of information available in this sector.
"We are confident that our products will enhance research and provide life-saving cures in the future," said LifeMap Sciences Chief Executive Officer David Warshawsky PhD.
The acquisition is expected to close within 30 days
Posted by Ron Maverick
Source: BioTime press release May 21st