AgeX Therapeutics and LyGenesis Terminate Merger Negotiations
23 Julho 2021 - 5:15PM
Business Wire
AgeX Therapeutics, Inc. (“AgeX”; NYSE American: AGE), a
biotechnology company developing therapeutics for human aging and
cell regeneration, and LyGenesis, Inc. (“LyGenesis”), a privately
held biotechnology company developing cell therapies that enable
organ regeneration, announced today that they have discontinued
negotiations for a merger agreement. The board of directors of AgeX
and the board of directors of LyGenesis each determined that it was
in the best interest of their respective shareholders not to
proceed with the merger given the diversity of the companies’
technology platforms and product development focus.
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AgeX will continue to consider new strategic opportunities as
they arise. AgeX remains committed to creating shareholder value
through third-party collaborations and licensing agreements for its
core technologies UniverCyte™ and PureStem®, and its cell therapy
programs, including AGEX-VASC1 and AGEX-BAT1. AgeX also will
continue to explore financing for its iTR™ technology.
LyGenesis will continue to advance its clinical-stage allogeneic
cell therapy for patients with end stage liver disease, and advance
its pipeline of preclinical cell therapies enabling pancreas,
thymus, and kidney regeneration.
About AgeX Therapeutics
AgeX Therapeutics, Inc. is focused on developing and
commercializing innovative therapeutics to treat human diseases to
increase healthspan and combat the effects of aging. AgeX’s
PureStem® and UniverCyte™ manufacturing and immunotolerance
technologies are designed to work together to generate highly
defined, universal, allogeneic, off-the-shelf pluripotent stem
cell-derived young cells of any type for application in a variety
of diseases with a high unmet medical need. AgeX has two
preclinical cell therapy programs: AGEX-VASC1 (vascular progenitor
cells) for tissue ischemia and AGEX-BAT1 (brown fat cells) for Type
II diabetes. AgeX’s revolutionary longevity platform induced Tissue
Regeneration (iTR™) aims to unlock cellular immortality and
regenerative capacity to reverse age-related changes within
tissues. HyStem® is AgeX’s delivery technology to stably engraft
PureStem or other cell therapies in the body. AgeX is seeking
opportunities to establish licensing and collaboration arrangements
around its broad IP estate and proprietary technology platforms and
therapy product candidates.
For more information, please visit www.agexinc.com or connect
with the company on Twitter, LinkedIn, Facebook, and YouTube.
About LyGenesis
LyGenesis is a clinical-stage biotechnology company whose cell
therapies enable organ regeneration using a patient’s lymph nodes
as bioreactors to regrow functioning ectopic organs. LyGenesis’s
cell therapies are engrafted using endoscopic ultrasound procedure,
which is associated with decreased medical risks and costs relative
to full organ transplantation. LyGenesis’s lead allogeneic cell
therapy program is focused on liver regeneration for patients with
end stage liver disease. Its drug development pipeline includes
cell therapies enabling thymus, pancreas, and kidney regeneration.
Privately held, LyGenesis is headquartered in Pittsburgh,
Pennsylvania. To learn more, please visit lygenesis.com.
Forward-Looking Statements
Certain statements contained in this release are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Any statements that are
not historical fact including, but not limited to statements that
contain words such as “will,” “believes,” “plans,” “anticipates,”
“expects,” “estimates” should also be considered forward-looking
statements. Forward-looking statements involve risks and
uncertainties. Actual results may differ materially from the
results anticipated in these forward-looking statements and as such
should be evaluated together with the many uncertainties that
affect the business of AgeX Therapeutics, Inc. and its
subsidiaries, particularly those mentioned in the cautionary
statements found in more detail in the “Risk Factors” section of
AgeX’s most recent Annual Report on Form 10-K and Quarterly Report
on Form 10-Q filed with the Securities and Exchange Commission
(copies of which may be obtained at www.sec.gov). Subsequent events
and developments may cause these forward-looking statements to
change. AgeX specifically disclaims any obligation or intention to
update or revise these forward-looking statements as a result of
changed events or circumstances that occur after the date of this
release, except as required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210723005478/en/
Contact for AgeX: Dr. Nafees Malik Chief Operating
Officer nmalik@agexinc.com
Contact for LyGenesis: Michael Hufford
mhufford@lygenesis.com (858) 603-2514
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