ALAMEDA, Calif.--(BUSINESS WIRE)--Dec. 15, 2014--
BioTime, Inc. (NYSE MKT: BTX) today announced that its subsidiary ES
Cell International Pte. Ltd. (“ESI”) and GE Healthcare (GEHC) have
signed a set of license agreements through which GEHC received rights to
ESI’s stem cell patents and ESI received rights to stem cell patents
controlled by GEHC, in both cases for the development of cellular assays
and models derived from stem cells for use in drug discovery and
toxicity screening. In addition, the agreements give GEHC the right to
grant sub-licenses to the ESI patent portfolio and, in certain
circumstances, ESI may further sublicense its rights for the purpose of
marketing stem cell-derived products. Financial terms were not disclosed.
As the worldwide pharmaceutical industry seeks to reduce the cost of
drug development and to bring more effective, safer drugs to market,
access to more biologically relevant and predictive cell models is
becoming increasingly important. The agreement provides ESI with access
to additional intellectual property and hence the ability to further
expand its product portfolio bringing the benefits of stem cell derived
assays and models to pharmaceutical and cell science research.
“The mission of BioTime’s ESI BIO division, which includes ES Cell
International, is to sell high quality tools of regenerative medicine to
the research product markets, and this licensing agreement will allow
the company to provide superior products for clinical research and drug
testing,” said Jeffrey Janus, ES Cell International’s CEO and BioTime’s
VP of Sales and Marketing. “The ESI BIO business has the potential to
generate near-term revenues for BioTime while simultaneously placing
clinical grade cells, injectable matrices, and related components of a
wide array of potential regenerative therapies into the hands of
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.
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Source: BioTime, Inc.
Judith Segall, 510-521-3390 ext. 301
EVC Group, Inc.
Michael Polyviou, 212-850-6020