BioTime Expands Ophthalmology Portfolio With Global In-Licensing Agreement for Next-Generation Retinal Disease Therapy From University of Pittsburgh Medical Center
Advanced retinal regeneration program could lead to fully functional
retinal tissue implants to restore vision in late stages of blindness
ALAMEDA, Calif.--(BUSINESS WIRE)--Feb. 6, 2017--
BioTime, Inc. (NYSE MKT:BTX), a clinical-stage biotechnology company
developing and commercializing products addressing degenerative
diseases, today announced the acquisition of global rights to
ophthalmology-related intellectual property (IP) assets from the University
of Pittsburgh’s Medical Center (UPMC),
via the school’s Innovation
Institute. The technology was developed in part in collaboration
with BioTime scientists and includes composition and methodologies to
develop 3-D retinal tissue derived from human pluripotent stem cells for
implantation in patients with advanced stages of retinal degeneration.
“This significant addition to our expanding portfolio is a major step
toward our goal of becoming an industry leader in regenerative
opthalmology innovation,” commented Adi Mohanty, Co-Chief Executive
Officer of BioTime. “These assets enable us to develop treatments for
advanced forms of blindness for which there are currently no treatments
available. We intend to build a strong franchise for serious forms of
“We anticipate that this technology, co-developed with the UPMC lab for
retinal repair and epigenetics, will allow us to generate
three-dimensional laminated human retinal tissue in a controlled
manufacturing process. This could lead to vision restoration treatments
for a variety of blinding retinal degenerative diseases, particularly
retinitis pigmentosa, macular degeneration, and diabetic retinopathy,
among other diseases and conditions,” said Michael D. West, PhD,
Co-Chief Executive Officer of BioTime.
Key aspects of the technology are described in three presentations at
the annual meeting of the Society
for Neuroscience, November 12-16, 2016, in San Diego, California, by
Dr. Igor Nasonkin, lab head at BioTime, and one upcoming presentation at
the International Society for Stem Cell Research (ISSCR)
Congress in Basel, Switzerland, February 27-March 1.
BioTime, Inc. is a clinical-stage biotechnology company focused on
developing and commercializing novel therapies developed from what the
company believes to be the world’s premier collection of pluripotent
cell assets. The foundation of BioTime’s core therapeutic technology
platform is pluripotent cells that are capable of becoming any of the
cell types in the human body. Pluripotent cells have potential
application in many areas of medicine with large unmet patient needs,
including various age-related degenerative diseases and degenerative
conditions for which there presently are no cures. Unlike
pharmaceuticals that require a molecular target, therapeutic strategies
based on the use of pluripotent cells are generally aimed at
regenerating or replacing affected cells and tissues, and therefore may
have broader applicability than pharmaceutical products.
In addition to the development of therapeutics, BioTime’s research and
other activities have resulted, over time, in the creation of other
subsidiaries that address other non-therapeutic market opportunities
such as cancer diagnostics, drug development and cell research products,
and mobile health software applications.
BioTime common stock is traded on the NYSE MKT and TASE under the symbol
BTX. For more information, please visit www.biotimeinc.com
or connect with the company on Twitter,
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Certain statements contained in this release are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements pertaining to future financial and/or
operating results, future growth in research, technology, clinical
development, and potential opportunities for BioTime, Inc. 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, Inc. and its
subsidiaries, particularly those mentioned in the cautionary statements
found in more detail in the “Risk Factors” section of its Annual Reports
on Form 10-K and Quarterly Reports on Form 10-Q filed with the SEC
(copies of which may be obtained at www.sec.gov).
Subsequent events and developments may cause these forward-looking
statements to change. BioTime, Inc. specifically disclaims any
obligation or intention to update or revise these forward-looking
statements as a result of changed events or circumstances that occur
after the date of this release, except as required by applicable law.
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Source: BioTime, Inc.
EVC Group, Inc.
Matt Haines, 917-733-9297
Gotham Communications, LLC
Bill Douglass, 646-504-0890