Asterias Biotherapeutics, Inc., a subsidiary of BioTime, Inc. (NYSE MKT:,BTX), announced today that Asterias has filed a registration statement with the Securities and Exchange Commission for an underwritten public offering of up to $15,000,000 of units with each unit consisting of one share of Series B common stock and one redemption right. The shares of Series B common stock and redemption rights will immediately be freely tradable as separate securities. The number of units to be sold and the price range for the proposed offering have not yet been determined.
BioTime is a biotechnology company that researches and develops therapeutic products for oncology, orthopedics, retinal and neurological diseases and disorders, blood and vascular system diseases and disorders, blood plasma volume expansion, diagnostic products for the early detection of cancer, and hydrogel products for use in surgery, and products for human embryonic stem cell research. Co.'s primary focus is in the field of regenerative medicine; specifically human embryonic stem cell and induced pluripotent stem cell technology. Co.'s research products include ACTCellerate cell lines and associated ESpan culture media, HyStem® hydrogels, human embryonic stem cell lines, and Hextend®.
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