AgeX Therapeutics and ImStem Biotechnology Sign Non-Binding Letter of Intent Regarding Investigational MSC Candidate IMS001 for COVID-19 and Other Causes of ARDS

ALAMEDA, Calif. & FARMINGTON, Conn.--(BUSINESS WIRE)--AgeX Therapeutics, Inc. (“AgeX”: NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, and ImStem Biotechnology, Inc., a biopharmaceutical company developing human embryonic stem cell-derived mesenchymal stem cells (hES-MSC), today announced their signing of a non-binding letter of intent for ImStem to obtain from AgeX a non-exclusive license to use AgeX’s embryonic stem cell line ESI 053 to derive ImStem’s investigational MSC product IMS001 for development in COVID-19 as well as acute respiratory distress syndrome (ARDS) due to other causes. AgeX and ImStem are co-operating to finalize financial terms and other provisions of a license agreement.