Skip to main content
Premium Trial:

Request an Annual Quote

Xcyte Seeks Shareholder Approval for Invitrogen Sale; Gets Nasdaq Continued Listing Approval

NEW YORK, Feb. 10, (GenomeWeb News) - Xcyte Therapies announced today that it will hold a March shareholder meeting to approve its T cell technology sale to Invitrogen.

 

Shareholders will also be asked to approve the company's proposed acquisition of privately held, UK-based Cyclacel Limited.

 

Xcyte said that if the proposals, along with provisions for a new equity incentive plan and a reverse stock split of Xcyte's common stock, are approved, it anticipates that the purchase of Cyclacel and the asset sale to Invitrogen will close before March 31.

 

As GenomeWeb News reported in December, Invitrogen plans to buy Xcyte's T-cell expansion technology for $5 million in cash.

 

Xcyte also announced that on Feb. 7 the Nasdaq Listing Qualifications Panel granted Xcyte's request for continued listing, subject to certain conditions, including the announcement of the consummation of the acquisition of Cyclacel Limited and Nasdaq's approval of a new listing application by Xcyte pursuant to Nasdaq's "reverse merger" rules on or before April 12.

The Scan

Study Finds Sorghum Genetic Loci Influencing Composition, Function of Human Gut Microbes

Focusing on microbes found in the human gut microbiome, researchers in Nature Communications identified 10 sorghum loci that appear to influence the microbial taxa or microbial metabolite features.

Treatment Costs May Not Coincide With R&D Investment, Study Suggests

Researchers in JAMA Network Open did not find an association between ultimate treatment costs and investments in a drug when they analyzed available data on 60 approved drugs.

Sleep-Related Variants Show Low Penetrance in Large Population Analysis

A limited number of variants had documented sleep effects in an investigation in PLOS Genetics of 10 genes with reported sleep ties in nearly 192,000 participants in four population studies.

Researchers Develop Polygenic Risk Scores for Dozens of Disease-Related Exposures

With genetic data from two large population cohorts and summary statistics from prior genome-wide association studies, researchers came up with 27 exposure polygenic risk scores in the American Journal of Human Genetics.