NEW YORK (GenomeWeb News) – Shareholders of UK-based Stem Cell Sciences have voted in favor of selling the firm's assets to Stem Cell Sciences.
The vote is the most recent step in SCS' plans to sell off its assets and delist from the AIM and Australian Securities Exchange.
The firms announced the nearly $5 million deal earlier this month.
The transaction will provide Palo Alto, Calif.-based StemCells, which is focused on developing tissue-derived cellular products for therapeutic uses, with cell-based drug discovery technologies. Among the products StemCells gains through the deal are automated systems for production and manipulation of stem and progenitor cells, gene insertion technology for drug screening and for applications in cell and gene therapy, the SC Proven media formulation and reagent business, and SCS' licensing deals with firms, such as Merck and Millipore.