Geron, Inc., of Menlo Park, Ca., said
today it is assessing an offer by two of its former executives to buy
the human embryonic stem cell program that it abandoned nearly a year
ago.
Geron startled the stem cell world,
including the $3 billion California stem cell agency, when it
jettisoned the first clinical trial of an hESC therapy for financial
reasons. The agency had loaned the company $25 million just a few
months earlier. Geron repaid the loan with interest.
Geron has been mum until today about the Oct. 18 offer by Biotime, Inc., of Alameda, Ca., which is headed
by Michael West, who founded Geron in 1990. Tom Okarma, president of
Geron from 1999 to 2011, is involved with West on the deal and is now
working at Biotime.
Geron's remarks came during a
conference call on its third quarter earnings. A spokesman said the
company is working with Biotime to “assess the feasibility” of
the proposal. He said the proposed transaction is complex and the
company is seeking “additional important details.”
The spokesman declined to offer any
additional comments on the Biotime proposal when questioned following
his initial statement.
