ALAMEDA, Calif., Nov 29, 2011 (BUSINESS WIRE) --
BioTime, Inc. (NYSE Amex: BTX) and BioTime's subsidiary, OncoCyte
Corporation, today announced they have each appointed Dr. Andrew von
Eschenbach to their boards of directors.
Dr. von Eschenbach is the President of Samaritan Health Initiatives,
Inc., a health care policy consultancy, and is an Adjunct Professor at
University of Texas MD Anderson Cancer Center. From September of 2005 to
January 2009, Dr. von Eschenbach served as Commissioner of the Food and
Drug Administration. Under his leadership, the FDA instituted a
systems-based global approach to the regulation of food and medical
products, establishing for the first time a permanent FDA presence in 16
foreign locations. In addition, he accelerated the Critical Path
Initiative designed to modernize the scientific methods by which
FDA-regulated products are developed, evaluated and manufactured.
Dr. von Eschenbach was appointed Commissioner of the FDA after serving
for four years as Director of the National Cancer Institute (NCI) at the
National Institutes of Health, which manages the world's largest cancer
research budget of approximately $5 billion, coordinating the National
Cancer Program supporting research, training, health information
dissemination and other programs with respect to the cause, diagnosis,
prevention and treatment of cancer. At the time of his appointment by
President Bush to serve as Director of the NCI, he was President-Elect
of the American Cancer Society.
Dr. von Eschenbach entered government service after an outstanding
career of over three decades as a physician, surgeon, oncologist and
executive; his roles have included serving as Chairman of the Department
of Urologic Oncology to Executive Vice President and Chief Academic at
the University of Texas MD Anderson Cancer Center in Houston, an
institution recognized worldwide for the magnitude and excellence of its
clinical and research cancer programs. An internationally renowned
cancer specialist and author of more than 300 scientific articles and
studies, Dr. von Eschenbach has assumed many leadership roles, including
serving as one of the founding members of the National Dialogue on
Cancer, and he has received numerous professional awards and honors. In
2006, Dr. von Eschenbach was named one of Time magazine's "100 most
influential people to shape the world," and in both 2007 and 2008, he
was selected as one of the Modern Healthcare/Modern Physician's "50 Most
Powerful Physician Executives in Healthcare." He also serves on the
Chugai Pharmaceutical International Advisory Council and GE
Healthymagination Advisory Board; on the Scientific Advisory Board of
Arrowhead Research Corporation and Johnson & Johnson Corporate Office of
Science & Technology External Scientific Advisory Board; on the Board of
Directors of Elan Corporation, plc, Histosonics, Inc., and Viamet
Pharmaceuticals; is Senior Fellow at the Milken Institute; and is a
Senior Advisor to PWC Healthcare Services.
Dr. von Eschenbach earned a B.S. from St. Joseph's University in his
native Philadelphia and a medical degree from Georgetown University
School of Medicine in Washington, D.C. He served as a Lt. Commander in
the U.S. Navy Medical Corps. After completing a residency in urologic
surgery at Pennsylvania Hospital in Philadelphia, he was an instructor
in urology at the University of Pennsylvania School of Medicine. He
completed a Fellowship in Urologic Oncology at the University of Texas
MD Anderson Cancer Center.
"Human suffering demands that we drive medical research to create
solutions. The emerging field of regenerative medicine holds great
promise to not only eliminate disease but to restore health. Advancing
this field should be a national priority as we face an aging population
burdened by chronic degenerative diseases," said Dr. von Eschenbach. "I
look forward to working with BioTime's and OncoCyte's Board of Directors
to speed the development of these new therapeutic and diagnostic
products for those who so desperately need them."
"Dr. von Eschenbach's experience both in the clinic and in our federal
government will benefit us greatly as BioTime builds its business in the
field of human embryonic stem cells and regenerative medicine," said
Michael D. West, Ph.D., BioTime's CEO. "In addition, his background in
oncology will be invaluable for our team at OncoCyte as we develop new
cancer diagnostics and therapeutics based on novel findings in cell
biology."
About BioTime, Inc.
BioTime, headquartered in Alameda, California, is a biotechnology
company focused on regenerative medicine and blood plasma volume
expanders. Its broad platform of stem cell technologies is developed
through subsidiaries focused on specific fields of applications. BioTime
develops and markets research products in the field of stem cells and
regenerative medicine, including a wide array of proprietary
ACTCellerate(TM) cell lines, culture media, and differentiation kits.
BioTime's wholly owned subsidiary ES Cell International Pte. Ltd. has
produced clinical-grade human embryonic stem cell lines that were
derived following principles of Good Manufacturing Practice and
currently offers them for use in research. BioTime's therapeutic product
development strategy is pursued through subsidiaries that focus on
specific organ systems and related diseases for which there is a high
unmet medical need. BioTime's majority owned subsidiary Cell Cure
Neurosciences, Ltd. is developing therapeutic products derived from stem
cells for the treatment of retinal and neural degenerative diseases.
Cell Cure's minority shareholder Teva Pharmaceutical Industries has an
option to clinically develop and commercialize Cell Cure's OpRegen(TM)
retinal cell product for use in the treatment of age-related macular
degeneration. BioTime's subsidiary OrthoCyte Corporation is developing
therapeutic applications of stem cells to treat orthopedic diseases and
injuries. Another subsidiary, OncoCyte Corporation, focuses on the
diagnostic and therapeutic applications of stem cell technology in
cancer, including using vascular progenitor cells engineered to destroy
malignant tumors. ReCyte Therapeutics, Inc. is developing applications
of BioTime's proprietary induced pluripotent stem cell technology to
reverse the developmental aging of human cells to treat cardiovascular
and blood cell diseases. BioTime's newest subsidiary, LifeMap Sciences,
Inc., is developing an online database of the complex cell lineages
arising from stem cells to guide basic research and to market BioTime's
research products. In addition to its stem cell products, BioTime
develops blood plasma volume expanders, blood replacement solutions for
hypothermic (low-temperature) surgery, and technology for use in
surgery, emergency trauma treatment and other applications. BioTime's
lead product, Hextend(R), is a blood plasma volume expander manufactured
and distributed in the U.S. by Hospira, Inc. and in South Korea by CJ
CheilJedang Corp. under exclusive licensing agreements. Additional
information about BioTime, ReCyte Therapeutics, Cell Cure, OrthoCyte,
OncoCyte, BioTime Asia, LifeMap Sciences, and ESI can be found on the
web at www.biotimeinc.com.
About OncoCyte Corporation
OncoCyte Corporation is a majority-owned privately-held subsidiary of
BioTime, Inc. OncoCyte's mission is to develop novel products for the
diagnosis and treatment of cancer based on embryonic stem cell-derived
technology in order to improve both the quality and length of life of
cancer patients. OncoCyte's molecular diagnostics division is developing
products that should provide for earlier detection and more effective
treatment of numerous cancers. In addition to its diagnostic product
line, OncoCyte is developing cellular therapies to treat cancer based on
the unique biology of vascular precursor cells. The goal of OncoCyte's
therapeutic research efforts is to derive vascular cells that can be
engineered to deliver a toxic payload to the developing blood vessels of
a malignant tumor to destroy the tumor without killing nearby normal
tissues in the body. Additional information on OncoCyte can be found on
the web at www.oncocyte.com.
Forward-Looking Statements
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.
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SOURCE: BioTime, Inc.
BioTime, Inc.
Peter Garcia, 510-521-3390, ext 367
Chief Financial Officer
or
Judith Segall, 510-521-3390, ext 301
jsegall@biotimemail.com
