Biotime ($BTX) and subsidiary LifeMap Sciences acquire XenneX

BioTime (NYSE: BTM) and its wholly owned subsidiary LifeMap Sciences announced that they have signed a definitive agreement to acquire XenneX, Inc. through a merger of XenneX into LifeMap Sciences.

• The acquisition is expected to close within thirty days.
• XenneX holds the exclusive, worldwide licenses to market GeneCards and PanDaTox. GeneCards is a searchable, integrated, database of human genes that provides concise genomic, transcriptomic, genetic, proteomic, functional and disease related information, on all known and predicted human genes. PanDaTox is a recently developed, searchable, database that can be used to identify genes and intergenic regions that are unclonable in E. coli, to aid in the discovery of new antibiotics and biotechnologically beneficial functional genes, and to improve the efficiency of metabolic engineering.
• Through the merger, XenneX stockholders will receive approximately 1,362,589 shares of LifeMap common stock, which will represent approximately 13% of the LifeMap common stock outstanding upon the closing of the transaction.
• XenneX shareholders will also receive approximately 448,430 BioTime common shares as part of the transaction

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.