{"id":1063374,"date":"2012-11-04T07:49:35","date_gmt":"2012-11-04T07:49:35","guid":{"rendered":"http:\/\/www.longevitymedicine.tv\/biotime-geron-deal-attracts-interest-from-brit-investor\/"},"modified":"2024-08-17T20:29:04","modified_gmt":"2024-08-18T00:29:04","slug":"biotime-geron-deal-attracts-interest-from-brit-investor-2","status":"publish","type":"post","link":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/stem-cell-therapy\/biotime-geron-deal-attracts-interest-from-brit-investor-2.php","title":{"rendered":"Biotime-Geron Deal Attracts Interest from Brit Investor"},"content":{"rendered":"

<\/a>
<\/a><\/p>

A British investment trust<\/a> that has
invested in Geron<\/b> says it is going to take an advantage of an offer<\/a>
by an Alameda firm that is seeking to acquire Geron's human embryonic
stem cell assets.<\/p>

<\/div>
Jonathan C. Woolf<\/b>, managing director<\/a>
of British & American Investment Trust PLC<\/b>, said last week in a letter to its
shareholders that it is disappointed in Geron's performance and the abandonment of its hESC program last November. The sudden halt to the
program and its historic clinical trial also surprised the California
stem cell agency, which had loaned Geron $25 million just a few
months earlier. The agency has expressed an interest in continuing the trial.<\/div>
<\/div>
Woolf said,<\/div>

“We have been highly critical of
Geron management's decisions and strategy over the past 20 months, in
particular the decision in November 2011 to abruptly exit Geron's
regenerative medicine (stem cell) business in which it was the
acknowledged world leader. Since that time, Geron management has
attempted to sell or partner this business but to date has been
unable to announce any progress on this.”<\/p><\/blockquote>

Woolf's trust is not listed<\/a> as a major
Geron shareholder by Morningstar<\/b>, but Woolf said 17 percent of his firm's
investments are in the Menlo Park, Ca., company. The
specific size of the trust's holdings in Geron was not immediately
known.<\/div>
<\/div>
Woolf pointed to the offer <\/a>by Biotime,
Inc<\/b>., of Alameda, Ca., as a way for Geron shareholders to benefit. On
Oct. 18, Biotime proposed a complicated deal in which it would
acquire Geron's hESC program. Biotime's president, Michael West<\/b>,
founded Geron in 1990. The head of the Biotime subsidiary that would acquire
the Geron assets is Tom Okarma,<\/b> who was CEO of Geron from 1999 to 2011. (Here are links to brief stories on the offer: Fiercebiotech,<\/a> New Scientist<\/a>.)<\/div>
<\/div>
In his letter, Woolf noted Geron's
declining stock performance. He said he is “seriously concerned”
that Geron has failed to find a buyer for the assets. Woolf said,<\/div>

“These now dormant and untended
assets are inevitably losing value as competitors make progress in
Geron's absence from the field and patent protection periods
decline.”<\/p><\/blockquote>

Woolf continued,<\/div>

“We believe BioTime's proposals would
make Geron's stem cell assets in combination with those of BioTime
once again the world's leading stem cell business with sufficient
resources to recommence the discontinued programmes and develop the
business further into the medium term.”<\/p><\/blockquote>

Woolf urged Geron directors and other
Geron shareholders to work with Biotime to complete the deal. Geron
has not commented on the offer.<\/div>

<\/p>

\"\"<\/div>

Source:
http:\/\/feedproxy.google.com\/~r\/blogspot\/uqpFc\/~3\/va_Yea0dbF8\/biotime-geron-deal-attracts-interest.html<\/a><\/p>","protected":false},"excerpt":{"rendered":"

A British investment trust that hasinvested in Geron says it is going to take an advantage of an offerby an Alameda firm that is seeking to acquire Geron's human embryonicstem cell assets.Jonathan C. Woolf, managing directorof British & American Investment … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":64,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"limit_modified_date":"","last_modified_date":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[25,1246878],"tags":[],"class_list":["post-1063374","post","type-post","status-publish","format-standard","hentry","category-stem-cell-therapy","category-stem-cells"],"modified_by":null,"_links":{"self":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts\/1063374"}],"collection":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/comments?post=1063374"}],"version-history":[{"count":0,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts\/1063374\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/media?parent=1063374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/categories?post=1063374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/tags?post=1063374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}