Unassociated Document
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of
Report (date of earliest event reported): March 24, 2006.
BioTime,
Inc.
(Exact
name of registrant as specified in its charter)
|
California
|
1-12830
|
94-3127919
|
|
(State
or other jurisdiction
of
incorporation)
|
(Commission
File Number)
|
(IRS
Employer
Identification
No.)
|
6121
Hollis Street
Emeryville,
California 94608
(Address
of principal executive offices)
(510)
350-2940
(Registrant's
telephone number, including area code)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[
] Written communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
[
] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[
] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Statements
made in this Report that are not historical facts may constitute forward-looking
statements that are subject to risks and uncertainties that could cause actual
results to differ materially from those discussed. Such risks and uncertainties
include but are not limited to those discussed in this report and in BioTime's
Annual Report on Form 10-K filed with the Securities and Exchange Commission.
Words such as “expects,” “may,” “will,” “anticipates,” “intends,” “plans,”
“believes,” “seeks,” “estimates,” and similar expressions identify
forward-looking statements.
Section
1-Registrant’s Business Operations
Item
1.01 Entry Into a Material Definitive Agreement
On
March
24, 2006, we entered into a license agreement with Summit Pharmaceuticals
International Corporation (“Summit”) to develop Hextend and PentaLyte in the
People’s Republic of China, and Taiwan. Summit will seek to sublicense to a
pharmaceutical company the right to use our patents, trademarks and other
proprietary information to manufacture and market .Hextend and PentaLyte in
those countries. Summit or a sublicensee must obtain regulatory approval before
Hextend and PentaLyte can be brought to the market in China and
Taiwan.
Summit
has agreed to pay BioTime $500,000 by May 8, 2006 as the initial consideration
for the China and Taiwan license. BioTime also will be entitled to receive
50%
of any royalties and milestone payments payable to Summit by its sublicensee.
BioTime
may terminate the license if Summit fails to enter into a sublicense agreement
with a pharmaceutical company acceptable to BioTime by March 24, 2008, or if
certain other events occur.
The
preceding discussion of the license agreement between BioTime and Summit is
a
summary only, does not purport to describe in full all provisions of the license
agreement as a whole, and is qualified in all respects by the full text of
the
license agreement a copy of which has been filed as an exhibit to this report
and which is incorporated by reference herein.
Hextend®
and PentaLyte® are registered trademarks of BioTime, Inc.
Section
9-Financial Statements and Exhibits
Item
9.01 Financial Statements and Exhibits.
| Exhibit Number |
|
Description |
| 99.1 |
|
Hextend and PentaLyte China License
Agreement
Between BioTime
Inc. and Summit Pharmaceuticals International Corporation
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| |
|
|
| |
BIOTIME,
INC. |
|
|
|
| Date: March
30, 2006 |
By: |
/s/ Steven
Seinberg |
| |
Chief
Financial Officer |
| |
|
|
Exhibit Number
|
|
Description |
| 99.1 |
|
Hextend and PentaLyte China License
Agreement
Between BioTime
Inc. and Summit Pharmaceuticals International Corporation
|