BioTime (BTX) and Subsidiary LifeMap Sciences Announce Data Mining Collaboration
3/4/2013 9:55:05 AM
ALAMEDA, Calif.--(BUSINESS WIRE)--BioTime, Inc. (NYSE MKT: BTX) and its bioinformatics subsidiary LifeMap Sciences, Inc. (“LifeMap”) today announced that they have entered into a definitive collaboration agreement to utilize LifeMap’s computer-based tools to extract information relating to novel potential commercial products from nearly 100 million proprietary gene expression data points generated and owned by BioTime. The assembled data relate to BioTime’s proprietary PureStem™ progenitor cell lines derived from human embryonic stem cells. The two companies will share revenues resulting from commercialization of successful product candidates that are discovered via the collaboration. BioTime has the right of first refusal to advance, either directly or via any of its other subsidiaries, selected products under a milestones and royalty arrangement with LifeMap. LifeMap will have an exclusive option to advance those products that BioTime chooses not to pursue itself or via its other subsidiaries.
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