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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
File Pursuant to Section 13, or 15(d) of
THE SECURITIES EXCHANGE ACT OF 1934
JULY 15, 1996
EXTEN INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-16354 52-1412493
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(State or other jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
9625 BLACK MOUNTAIN ROAD, SUITE 218, SAN DIEGO, CA 92126
(Address of principal executive offices)
(619) 578-9784
(Registrant's telephone number, including area code)
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: July 15, 1996 EXTEN INDUSTRIES, INC.
/s/W. GERALD NEWMIN
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W. Gerald Newmin
Chairman and Chief Executive Officer
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Item 5. Discussion.
Exten Industries, Inc., has acquired all of the assets of its Xenogenex, Inc.
Subsidiary in exchange for certain debts of Xenogenex. Assets acquired include
all patents for the Company's artificial liver technology ("Sybiol"),
copyrights, trademarks, license agreements, research agreements, inventory and
equipment. Consideration for the purchase included the forgiveness of
approximately $740,000 of debt plus the assumption of certain liabilities.
Xenogenex is a 91% owned subsidiary of Exten. The company was formed in 1991
for the purpose of acquiring the artificial liver technology developed by
Cedars-Sinai Hospital in Los Angeles, California. Xenogenex's patent
application is based on the ability of individual swine and other liver cells
(hepatocytes) to metabolize human blood toxins outside of the liver. The claims
in Xenogenex's patent application relate to methods for providing the proper
conditions for continuous metabolism of human blood toxins by hepatocytes
through a semi-permeable membrane in a commercially available hollow fiber
bio-reactor.
Xenogenex is in the early stages of seeking FDA approval for its artificial
liver process. Xenogenex has been unsuccessful since inception in securing
sufficient capital to finance its operations and, therefore, has relied
primarily upon funding provided by its parent company, Exten.
