US-based biotechnology company BioTime and its subsidiary LifeMap Sciences have entered into a definitive data mining collaboration agreement.
Under the agreement, BioTime will use LifeMap's computer-based tools to extract information related to novel potential commercial products from approximately 100 million proprietary gene expression data points generated and owned by BioTime.
The assembled data relate to BioTime's proprietary PureStem progenitor cell lines derived from human embryonic stem cells.
After successful commercialization of the product candidates that are discovered via the collaboration, both the companies will share revenues results from the collaboration.
Under the agreement, BioTime has the right of first refusal to advance, either directly or via any of its other subsidiaries, selected products under a milestones and royalty arrangement with LifeMap.
LifeMap will have an exclusive option to advance those products that BioTime chooses not to pursue itself or via its other subsidiaries.
BioTime CEO and LifeMap chief scientific officer Michael West said the firm's subsidiary has assembled its molecular analysis capabilities by using its online databases such as GeneCards, MalaCards, and LifeMap Discovery, as well as its internal research team.
"We have already filed for patent protection on inventions jointly made by the teams and look forward to accelerating the pace of development of cures for the deadly degenerative diseases of aging," West added.
