Alameda-Based BioTime Completes Deal for XenneX

Alameda, Calif. -- BioTime, an Alameda-based biotechnology firm focused on regenerative medicine and blood plasma volume expanders, said on Monday it has completed its acquisition of Massachusetts-based XenneX, a provider of services and tools designed to enhance bio-medical research. The deal, technically a merger of XenneX into BioTime-unit LifeMap Sciences, was first announced in April. Through the agreement, XenneX stockholders received approximately 1.4 million shares of LifeMap -- a 13% stake in that company -- as well as 450,000 shares of BioTime. XenneX holds the exclusive, worldwide licenses to market GeneCards and PanDaTox. GeneCards is a searchable database of human genes, while PanDaTox is a searchable, database used to identify genes and intergenic regions. "The need for the LifeMap database is a reflection of the growth of the field of regenerative medicine," said Michael West, BioTime's CEO.
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