Organization, Basis of Presentation and Liquidity
Therapeutics, Inc. (“AgeX”) was incorporated in January 2017 in the state of Delaware as a subsidiary of Lineage Cell Therapeutics,
Inc. (“Lineage,” formerly known as BioTime, Inc.), a publicly traded, clinical-stage biotechnology company.
is a biotechnology company focused on the development and commercialization of novel therapeutics targeting human aging and degenerative
diseases. AgeX’s mission is to apply its comprehensive experience in fundamental biological processes of human aging to a broad
range of age-associated medical conditions.
proprietary technology, based on telomerase-mediated cellular immortality and regenerative biology, allows AgeX to utilize telomerase-expressing
regenerative pluripotant stem cells (“PSCs”) for the manufacture of cell-based therapies to regenerate tissues afflicted
with age-related chronic degenerative disease. AgeX’s main technology platforms and product candidates are:
● PureStem ®
PSC-derived clonal embryonic progenitor cell lines that may be capable of generating
a broad range of cell types for use in cell-based therapies;
which uses the HLA-G gene to suppress rejection of transplanted cells and tissues to confer
low immune observability to cells;
using adipose brown fat cells for metabolic diseases such as Type II diabetes and obesity;
using vascular progenitor cells to treat tissue ischemia such as in peripheral vascular disease
and ischemic heart disease; and
tissue regeneration or iTR technology to regenerate or rejuvenate cells to treat a variety
of degenerative diseases including those associated with aging, as well as other potential
tissue regeneration applications such as scarless wound repair.
is an “emerging growth company” as defined in the Jumpstart our Business Startups Act of 2012.
sale of significant ownership interest in AgeX to Juvenescence
August 30, 2018, Lineage consummated the sale of 14,400,000
shares of common stock of AgeX owned by Lineage
to Juvenescence Limited (“Juvenescence”). Prior to the transaction, Juvenescence owned 5.6 %
of AgeX’s issued and outstanding common stock. Upon completion of the transaction, Lineage’s ownership in AgeX was reduced
from 80.4 %
to 40.2 %
of AgeX’s issued and outstanding shares of common stock, and Juvenescence’s ownership in AgeX was increased from 5.6 %
to 45.8 %
of AgeX’s issued and outstanding shares of common stock. AgeX did not receive any proceeds from the transaction. As a result of
that transaction, AgeX ceased to be a subsidiary of Lineage because Lineage experienced a “loss of control” of a subsidiary,
as defined by U.S. GAAP. Loss of control is deemed
to have occurred when, among other things, a parent company owns less than a majority of the outstanding common stock in the subsidiary,
lacks a controlling financial interest in the subsidiary and, is unable to unilaterally control the subsidiary through other means such
as having, or being able to obtain, the power to elect a majority of the subsidiary’s Board of Directors based solely on contractual
rights or ownership of shares holding a majority of the voting power of the subsidiary’s voting securities. All of these loss-of-control
factors were present with respect to Lineage’s ownership interest in AgeX as of August 30, 2018. Accordingly, Lineage deconsolidated
AgeX’s consolidated financial statements and results from its consolidated financial statements and results beginning on August
November 28, 2018 (the “Dis
Free historical financial statements for AgeX Therapeutics Inc..
See how revenue, income, cash flow, and balance sheet financials have changed over 17 quarters since 2019. Compare with AGE stock chart to see long term trends.
Data imported from AgeX Therapeutics Inc. SEC filings. Check original filings before making any investment decision.