Geron Acknowledges Letter to its Stockholders from BioTime
Geron Corporation (Nasdaq: GERN) today acknowledged the public release by BioTime, Inc. (NYSE: BTX) of a letter to Geron's stockholders regarding Geron's stem cell assets. Geron's Board of Directors has, since the announcement that Geron would be discontinuing its stem cell research and development programs, considered a number of alternatives with respect to such programs. Consistent with its fiduciary duties and responsibilities, and in consultation with its financial and legal advisors, Geron's Board of Directors will diligently review BioTime's proposal and act in a manner that the Board believes is in the best interests of Geron's stockholders.
Stifel Nicolaus Weisel is acting as financial advisor and Weil, Gotshal & Manges LLP is acting as legal counsel to Geron in connection with the divestiture of Geron's stem cell assets.
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