BioTime Appoints Angus C. Russell to Board of Directors
ALAMEDA, Calif.--(BUSINESS WIRE)--Dec. 15, 2014--
BioTime, Inc. (NYSE MKT: BTX), a biotechnology company that develops and
markets products in the field of regenerative medicine, today announced
that Angus C. Russell, former Chief Executive Officer of Shire plc, has
been appointed to BioTime's Board of Directors.
Shire is a leading global specialty biopharmaceutical company. During
Mr. Russell's tenure as Chief Executive Officer of Shire from 2008 until
his retirement in April 2013, Shire introduced several new products,
grew revenues over 50%, and increased earnings approximately five-fold
to $745 million. In addition, Mr. Russell served as Chairman of Shire’s
Leadership Team and a lead member of the Shire Management Committee,
which designed and implemented Shire’s immensely successful long-term
business strategy. Previously, Mr. Russell was Chief Financial Officer
at Shire from 1999 to 2008. Shire's market capitalization grew from $1.4
billion when Mr. Russell joined the company in 1999 to $17.5 billion
when he retired at the end of April 2013. He currently serves on the
boards of directors of Mallinckrodt plc and Revance Therapeutics, Inc.
In addition, he previously served on the boards of InterMune, Inc.,
which was acquired by Roche Holding AG in September 2014, and Questcor
Pharmaceuticals, Inc., which was acquired by Mallinckrodt plc in August
“Angus is a respected biopharmaceutical industry leader with more than
30 years of experience in commercialization, operations, product
development and strategic acquisitions," said Dr. Michael D. West, Chief
Executive Officer of BioTime. “Angus’ impressive track record will bring
significant value to BioTime and its Board of Directors. We look forward
to drawing on his years of experience as we plan for commercialization
of our diagnostic and medical device products that are in late stage
clinical trials, and as our subsidiaries Asterias Biotherapeutics and
Cell Cure Neurosciences commence clinical trials of their therapeutic
“BioTime is the technology leader in developing cellular therapeutics
from its leading platform of pluripotent stem cell technology," Mr.
Russell said. “Pluripotent stem cell technology has the potential to
transform how medicine is practiced. The key to being the industry
leader in this field will be combining the best of science with a solid
development and commercialization strategy. I look forward to working
with the BioTime board and management team to speed these new therapies
to the patients who need them so urgently.”
Prior to joining Shire, Mr. Russell served at ICI, Zeneca, and
AstraZeneca for 19 years, most recently as Vice President of Corporate
Finance at AstraZeneca PLC. In that role he was responsible for
financial input into merger and acquisition activities, management of
tax, legal and finance structure, investor relations, and the management
of various financial risks. Mr. Russell also held a number of positions
within Zeneca Group PLC from 1993 until 1999, including Group Treasurer.
He is a chartered accountant, having qualified with Coopers & Lybrand
(now PricewaterhouseCoopers LLP).
BioTime is a biotechnology company engaged in research and product
development in the field of regenerative medicine. Regenerative medicine
refers to therapies based on stem cell technology that are designed to
rebuild cell and tissue function lost due to degenerative disease or
injury. BioTime’s focus is on pluripotent stem cell technology based on
human embryonic stem (“hES”) cells and induced pluripotent stem (“iPS”)
cells. hES and iPS cells provide a means of manufacturing every cell
type in the human body and therefore show considerable promise for the
development of a number of new therapeutic products. BioTime’s
therapeutic and research products include a wide array of proprietary PureStem®
hydrogels, culture media, and differentiation kits. Renevia™
(a HyStem® product), is now in a pivotal trial in
Europe as a biocompatible, implantable hyaluronan and collagen-based
matrix for cell delivery in the treatment of HIV-related lipoatrophy. In
addition, BioTime has developed Hextend®,
a blood plasma volume expander for use in surgery, emergency trauma
treatment and other applications. Hextend® is
manufactured and distributed in the U.S. by Hospira, Inc. and in South
Korea by CJ HealthCare Corporation, under exclusive licensing agreements.
BioTime is also developing stem cell and other products for research,
therapeutic, and diagnostic use through its subsidiaries:
Biotherapeutics, Inc. is developing pluripotent stem-cell based
therapies in neurology and oncology, including AST-OPC1
oligodendrocyte progenitor cells in spinal cord injury, multiple
sclerosis and stroke, and AST-VAC2, an allogeneic dendritic cell-based
cancer vaccine. Asterias Series A common stock is traded on the NYSE
MKT under the symbol AST.
BioTime Asia, Ltd., a Hong Kong company, may offer and sell products
for research use for BioTime’s ESI BIO Division.
Cure Neurosciences Ltd. is an Israel-based biotechnology company
focused on developing stem cell-based therapies for retinal and
neurological disorders. OpRegen™ is currently in a Phase I/IIa
clinical trial for the treatment of the dry-form of age-related
BIO is the research and product marketing division of BioTime,
providing stem cell researchers with products and technologies to
enable them to translate their work into the clinic, including PureStem®
progenitors and HyStem® hydrogels.
Sciences, Inc. markets, sells, and distributes GeneCards®,
the leading human gene database, as part of an integrated database
suite that also includes the LifeMap
Discovery® database of embryonic development, stem
cell research, and regenerative medicine, and MalaCards,
the human disease database.
Solutions, Inc. is a subsidiary of LifeMap Sciences focused on
developing mobile health (mHealth) products.
Corporation is developing products and technologies to diagnose and
treat cancer, including PanC-Dx™, with four clinical studies
Corporation is developing therapies to treat orthopedic disorders,
diseases and injuries.
Therapeutics, Inc. is developing therapies to treat a variety of
cardiovascular and related ischemic disorders, as well as products for
research using cell reprogramming technology.
BioTime common stock is traded on the NYSE MKT under the symbol BTX. For
more information, please visit www.biotimeinc.com
or connect with the company on Twitter,
Statements pertaining to future financial and/or operating results,
future growth in research, technology, clinical development, and
potential opportunities for BioTime and its subsidiaries, along with
other statements about the future expectations, beliefs, goals, plans,
or prospects expressed by management constitute forward-looking
statements. Any statements that are not historical fact (including, but
not limited to statements that contain words such as “will,” “believes,”
“plans,” “anticipates,” “expects,” “estimates”) should also be
considered to be forward-looking statements. Forward-looking statements
involve risks and uncertainties, including, without limitation, risks
inherent in the development and/or commercialization of potential
products, uncertainty in the results of clinical trials or regulatory
approvals, need and ability to obtain future capital, and maintenance of
intellectual property rights. Actual results may differ materially from
the results anticipated in these forward-looking statements and as such
should be evaluated together with the many uncertainties that affect the
business of BioTime and its subsidiaries, particularly those mentioned
in the cautionary statements found in BioTime's Securities and Exchange
Commission filings. BioTime disclaims any intent or obligation to update
these forward-looking statements.
To receive ongoing BioTime corporate communications, please click on the
following link to join our email alert list: http://news.biotimeinc.com
Source: BioTime, Inc.
Judith Segall, 510-521-3390 ext. 301
EVC Group, Inc.
Michael Polyviou, 212-850-6020