Lineage Cell Therapeutics, Asterias Investors Propose Settlement

Lineage Cell Therapeutics Inc., some of its former directors, and insurers will pay $10.65 million in cash and stock under a proposed settlement with former Asterias Biotherapeutics Inc. shareholders, according to documents filed in Delaware Chancery Court.

The shareholders’ suit focuses on the merger between Lineage, then known as BioTime, and Asterias. It previously also targeted Broadwood Partners LP, an investment firm that owned 10% of Asterias and a large chunk of Lineage, and a related company. Broadwood exited the suit in September 2020.

The investors accuse Lineage and Broadwood of using their combined 50% control of Asterias—and Broadwood’s ...