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BioTime to acquire company with license to GeneCards databases.

Alameda, Calif.-based BioTime, Inc. (BTX) and its subsidiary LifeMap Sciences said they will acquire XenneX, Inc., holder of exclusive licenses to market GeneCards, a searchable, integrated, database of human genes.

GeneCards provides concise genomic, transcriptomic, genetic, proteomic, functional and disease related information, on all known and predicted human genes.

Upon closing, XenneX will be merged into LifeMap Sciences. The acquisition is expected to close within thirty days.

GeneCards was developed by a world-leading bioinformatics team at the Weizmann Institute of Science in Israel.

XenneX also markets PanDaTox, a recently developed, searchable, database that can he used to identify genes and intergenic regions that are unclonable in E. coli, to aid in the discovery of new antibiotics and hiotechnologically beneficial functional genes, and to improve the efficiency of metabolic engineering.

Since 2003, XenneX has been generating revenue from customers worldwide including biotechnology, pharmaceutical and other life sciences companies, as well as organizations dealing with biotechnology intellectual property.

GeneCards and PanDaTox are marketed by XenneX under a license from Yeda Research and Development Company Ltd, the Technology Transfer Company of the Weizmann Institute.

Separately, LifeMap Sciences announced that it anticipates acquiring a license from Yeda to market the new MalaCards database of human diseases. Like GeneCards and PanDaTox, MalaCards has been developed by the Weizmann Institute and is expected to be launched at the end of 2012.

"We believe that centralized online databases of biological knowledge will become indispensable tools for research in the field of regenerative medicine," said CEO Michael West. "The rising standards for identity and purity in the development of stem cell therapeutics necessitate an international consensus on cell markers, and building the database is one component of BioTime's strategy to lead in this emerging field of medicine while capturing near-term revenue."

Contact: http://www.biotimeinc.com

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Title Annotation:Mergers & Acquisitions
Publication:Stem Cell Business News
Date:Apr 23, 2012
Words:299
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