Company’s Common Stock Listed Under Symbol “AGE”
ALAMEDA, Calif.--(BUSINESS WIRE)--Nov. 29, 2018--
AgeX
Therapeutics
, Inc. (NYSE American: AGE), a biotechnology company
focused on the development and commercialization of therapeutics
targeting human aging, announced today that its common stock is now
trading on the NYSE American exchange under the symbol “AGE.”
On November 28, 2018, AgeX’s former parent company,
BioTime,
Inc.
(NYSE American: BTX) distributed approximately 12.7 million
shares of AgeX common stock to BioTime shareholders in the ratio of one
share of AgeX common stock for every 10 BioTime common shares owned.
There are approximately 35.8 million shares of AgeX common stock
outstanding of which approximately 1.7 million are held by BioTime and
16.4 million are held by
Juvenescence
Limited
, a life science and biotech company developing therapies to
increase healthy human longevity.
“The aging of our society presents both a challenge and an opportunity,”
said Michael D. West, Ph.D., Founder and CEO of AgeX. “The challenge
relates to the high prevalence of chronic degenerative diseases in late
life that account for the majority of health care expenditures in the
U.S. The opportunity offered by modern medical research is unprecedented
in history and reflects our new-found potential to peer deeply into the
molecular machinery of life and finally understand exactly why and how
we age. Our mission at AgeX is to lead in the translation of these
important discoveries into breakthrough therapies targeting some of the
largest markets in aging and medicine.”
“We at Juvenescence are excited to be part of AgeX and to work closely
with Dr. West and his colleagues to create the science and opportunities
that will transform regenerative medicine for the benefit of mankind,”
said Gregory Bailey, M.D., CEO of Juvenescence and the newly-appointed
Chairman of the Board of Directors of AgeX.
Additional information about AgeX, its core technologies including its
proprietary PureStem® and induced Tissue Regeneration (iTR™) platforms,
and its products in development, is available at www.agexinc.com.
About AgeX
AgeX is a biotechnology company focused on the development of novel
therapeutics for age-related degenerative disease. AgeX’s mission is to
apply the proprietary technology platform related to telomerase-mediated
cell immortality and regenerative biology to address a broad range of
diseases of aging. The current preclinical development efforts include
two cell-based therapies derived from telomerase-positive pluripotent
stem cells and two product candidates derived from the company’s
proprietary induced Tissue Regeneration (iTR™) technology. AGEX-BAT1 and
AGEX-VASC1 are cell-based approaches in the preclinical stage of
development comprised of young regenerative cells modified using AgeX’s
UniverCyte™ technology facilitating immune tolerance, formulated in
HyStem® matrix, designed to correct metabolic imbalances in
aging and to restore vascular support in ischemic tissues respectively.
AGEX-iTR1547 is a drug-based formulation in preclinical development
intended to restore regenerative potential in a wide array of aged
tissues afflicted with degenerative disease using the company’s
proprietary iTR technology. Renelon™ is a first-generation iTR product
designed to promote scarless tissue repair which AgeX plans to initially
develop as a topically-administered device for commercial development
through a 510(k) application. In addition to the product candidates in
early development, AgeX, through its LifeMap subsidiary, currently
markets genomic interpretation algorithms. AgeX also markets Cytiva®
comprised of PSC-derived heart muscle cells used in screening drugs for
efficacy and safety.
For more information, please visit www.agexinc.com
or connect with the company on Twitter,
Facebook
and
YouTube
.
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. These risks and
uncertainties, include, without limitation, that there was previously no
public market for AgeX common stock and the public market created by the
listing of AgeX common stock on the NYSE American may not be sustained.
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 Information Statement filed as an exhibit to its
Registration Statement on Form 10 with the Securities and Exchange
Commissions (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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181129005249/en/
Source: AgeX Therapeutics, Inc.
Media Contact for AgeX:
Bill Douglass
Gotham Communications,
LLC
bill@gothamcomm.com
(646)
504-0890
or
Mark Leonard
Next Level Agency, Inc.
mark@reachthenextlevel.com
(847)
651-9682