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AgeX Therapeutics Reports Fourth Quarter and Annual 2018 Financial Results and Provides Business Update
- Ends 2018 with triad of innovative cell therapy technologies: UniverCyte™ for immune tolerance, PureStem® for cell derivation and manufacturing, and HyStem® for cell delivery
- Potential to generate any human cell type with clinical and commercial friendly characteristics of hypoimmunogenicity, low COGS and availability off-the-shelf
- Juvenescence increased ownership by paying BioTime, Inc. $43.2M to become largest shareholder
- Became public company with common stock traded on the NYSE American under ticker “AGE”
- Board and management strengthened with seasoned professionals in financing, R&D and cell therapies
- Secured almost $10M from sale of a non-core asset, equity financing and NIH Grant
ALAMEDA, Calif.--(BUSINESS WIRE)--April 1, 2019--AgeX Therapeutics, Inc. (“AgeX”: NYSE American: AGE), a biotechnology company focused on developing and commercializing innovative cellular and regenerative therapeutics for diseases of old age, reported financial and operating results for the fourth quarter and year ended December 31, 2018.
“2018 has been a transformative year for AgeX. We became a public company, listed on the NYSE American, and made progress toward becoming a leader in the cell therapy and longevity sectors,” said Michael D. West, Ph.D., Chief Executive Officer. “One highlight was that we acquired an immune tolerance technology, UniverCyte™, with the potential to produce hypoimmunogenic cells for new therapies. Considering the number of high-profile publications and deals in this space, we would expect this platform to hold us in good stead for both our current product development programs and the potential for third party collaborations. We think this technology could help us deliver nearer and longer term value to our stockholders.”
“AgeX has both exciting cell- and iTR™-based platforms. Using UniverCyte™ in combination with our pluripotent stem cell-based PureStem® cell derivation and manufacturing technology, we aim to generate universal, off-the-shelf cells for therapeutic products with reduced COGS,” said Greg Bailey, M.D., Chairman of the AgeX Board of Directors. “Our goal is to overcome key industry barriers to successful development and commercialization of cellular therapies, including immune rejection, high manufacturing costs, and a service-based business model.”
The following information was filed by Agex Therapeutics, Inc. (AGE) on Monday, April 1, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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