BioTime, Inc. (NYSE MKT: BTX), a biotechnology company focused on the development and commercialization of cell-based therapies, announced that the Tel Aviv Stock Exchange (TASE) has approved the new listing of BioTime's common shares beginning on Tuesday, September 8, 2015 under the ticker symbol BTX. Based on the current market capitalization, BioTime’s shares are anticipated to be included in five TASE equity indexes: TASE's TA-75, TA-100, TA-BlueTech, TA-Tech-Elite and TA-Biomed.
“We believe that the dual listing on the TASE will help us to open a new access point for our shares in the Israeli market that is becoming a center for biomed and emerging technology companies,” said Michael D. West, Ph.D., CEO of BioTime. “The new listing also offers an opportunity to expand and diversify our shareholder base by increasing our exposure and improving our accessibility to Israeli investors.”
TASE CEO, Yossi Beinart said, “We welcome BioTime to the Tel Aviv Stock Exchange Dual Listing, and believe that this is a recognition of the Biomed sector’s special position at the Tel Aviv Stock Exchange. BioTime joins a group of 47 cross-listed companies entitling them to significant benefits including, added exposure among Israeli investors, extension of the trading day, investment by Exchange Traded Product vendors, and easy access to institutional and retail investors as well as to global growth companies.”
BioTime considers this listing a natural extension of its long-standing relationship with the Israeli biotechnology industry, including its two Israeli subsidiaries Cell Cure Neurosciences Ltd. (“Cell Cure”) of Jerusalem and LifeMap Sciences Ltd. of Tel Aviv which has benefited from a rewarding relationship with the Weizmann Institute of Science.
