BRIEF—AgeX Therapeutics and LyGenesis call off merger

AgeX Therapeutics closed 7.3% higher at $1.50 on Friday, after the US biotech said that its previously-announced merger with privately-held peer LyGenesis has been called off.

The boards of directors of AgeX and LyGenesis each determined that it was in the best interest of their respective shareholders not to proceed with the merger given the diversity of the companies’ technology platforms and product development focus.

AgeX will continue to consider new strategic opportunities as they arise.

AgeX remains committed to creating shareholder value through third-party collaborations and licensing agreements for its core technologies UniverCyte and PureStem, and its cell therapy programs, including AGEX-VASC1 and AGEX-BAT1.

AgeX also will continue to explore financing for its iTR technology.

LyGenesis will continue to advance its clinical-stage allogeneic cell therapy for patients with end stage liver disease, and advance its pipeline of pre-clinical cell therapies enabling pancreas, thymus, and kidney regeneration.