BioTime’s Acquisition of Asterias Biotherapeutics

BioTime’s financial advisor in the transaction was Maxim Group LLC. Raymond James acted as financial advisor to Asterias. Cooley LLP served as legal counsel to BioTime and Dentons LLP served as legal counsel to Asterias.

BioTime, Inc. (NYSE American and TASE: BTX), executed the acquisition of Asterias Biotherapeutics, Inc. (Asterias).

As a result of the acquisition, Asterias became a wholly-owned subsidiary of BioTime and the operations of BioTime and Asterias have combined. Notably, 98% of BioTime votes cast and 96% of Asterias votes cast were in favor of the merger. BioTime is now advancing three clinical stage product candidates for degenerative retinal diseases, neurological conditions associated with demyelination, and aiding the body in detecting and combating cancer. In connection with the closing, two members of the Asterias Board of Directors, Don Bailey, the former Chairman of Asterias’ Board and Michael Mulroy, the former Chief Executive Officer of Asterias will be serving on the BioTime Board of Directors. BioTime will continue to be led by the Company’s current management team.

Cooley advised BioTime with a team including Tali Sealman (Picture), Gaël Y. Hagan, Marina Remennik, Carlton Fleming, Ryan Stone and Barbara Mirza.

Dentons advised with a team led by Ilan Katz and Brian Lee.

Involved fees earner: Carlton Fleming – Cooley LLP; Gaël Hagan – Cooley LLP; Barbara Mirza – Cooley LLP; Marina Remennik – Cooley LLP; Tali Sealman – Cooley LLP; Ryan Stone – Cooley LLP; Brian Lee – Dentons; Ilan Katz – Latham & Watkins;

Law Firms: Cooley LLP; Dentons; Latham & Watkins;

Clients: Asterias Biotherapeutics; BioTime Inc;

Author: Ambrogio Visconti