BioTime and Asterias Biotherapeutics merger to form cell therapy company. Credit: Credit: NIAID.

US-based biotechnology firms BioTime and Asterias Biotherapeutics have entered into a definitive merger agreement to form an integrated company focussed on cell therapies.

Under the terms of the agreement, BioTime will buy all the outstanding Asterias shares for an undisclosed sum.

As per the agreement, BioTime will offer 0.71 of its shares for each share of Asterias, which will hold approximately 16.2% interest in the combined entity.

BioTime CEO Brian Culley said: “Our vision is to build BioTime into a premier cell therapy company and this acquisition can support that transformation as it not only diversifies our pipeline with two additional clinical-stage assets addressing high unmet medical needs, but also adds partnerships with notable institutions such as the California Institute for Regenerative Medicine and Cancer Research UK.”

Culley added that the merger will enable the company to address disease areas that require novel therapeutics.

“This acquisition not only diversifies our pipeline with two additional clinical-stage assets addressing high unmet medical needs, but also adds partnerships with notable institutions.”

Asterias Biotherapeutics pipeline consists of an oligodendrocyte progenitor cells (OPCs)-based cell therapy, called OPC1, being developed for the treatment of severe spinal cord injury. OPC1 is currently undergoing a Phase I/IIa clinical trial.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In addition, the company is developing the VAC2 cancer immunotherapy candidate in non-small cell lung cancer (NSCLC). It is being evaluated in a Phase I trial funded and conducted by Cancer Research UK.

Asterias Biotherapeutics CEO Michael Mulroy said: “The stock merger structure provides Asterias stockholders the ability to continue their investment in our clinical programs in spinal cord injury and non-small cell lung cancer as part of a larger, more diversified company with greater resources.”

The merger, subject to customary closing conditions and approvals, is expected to close in the first quarter of next year.

Cell & Gene Therapy Coverage on Pharmaceutical Technology supported by Cytiva.

Editorial content is independently produced and follows the highest standards of journalistic integrity. Topic sponsors are not involved in the creation of editorial content.