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|BioTime Completes Merger of XenneX, Inc. into LifeMap Sciences, Inc.|
LifeMap Sciences now holds the exclusive, worldwide licenses to market GeneCards®
and PanDaTox from
LifeMap Sciences’ goal is to be the leading resource for the emerging
field of regenerative medicine, by providing access to GeneCards®,
and its LifeMap™ database of embryonic development and stem
cells, and by also marketing research products manufactured by
LifeMap scientists will also utilize its databases to aid in the development of BioTime’s proprietary ACTCellerate™ human progenitor cell lines into products for the treatment of human diseases, especially degenerative diseases that might be treatable by cell replacement therapies.
Since 2003, XenneX has been commercializing GeneCards® worldwide. Its customers include biotechnology, pharmaceutical and other life sciences companies, as well as organizations dealing with biotechnology intellectual property.
Through the merger, XenneX stockholders received 1,362,589 shares of
LifeMap Sciences common stock, which represents approximately 13% of the
LifeMap Sciences common stock now outstanding. XenneX shareholders also
“The need for the LifeMap database is a reflection of the growth of the
field of regenerative medicine,” said
LifeMap Sciences’ (www.lifemapsc.com) core technology and business is based on its integrated database suite, The go-to discovery and marketing platform for biomedical and stem-cell research. This platform will include GeneCards®: the leading human gene database; the LifeMap™ database of embryonic development, stem cell research and regenerative medicine; and MalaCards, the human disease database. LifeMap Sciences also markets PanDaTox, a recently developed, searchable database that can aid in the discovery of new antibiotics and biotechnologically beneficial products.
In addition to database offerings,
In a therapeutic discovery collaboration with
Statements pertaining to future financial and/or operating results,
future growth in research, technology, clinical development, and
potential opportunities for
To receive ongoing