Full Press Release Details
Obtains Expanded License to HyStem
now holds exclusive worldwide license for all human medical applications
ALAMEDA, Calif.--(BUSINESS WIRE)--August 27, 2012--BioTime, Inc. (NYSE
MKT: BTX) announced that the company has amended its license from the
University of Utah to expand the field of use for which BioTime is
licensed to produce and market products covered by the core patents
underlying HyStem technology. Under the
amended license, BioTime now is licensed worldwide for all uses, with
the exception of veterinary medicine and animal health. The field of use
includes, but is not limited to, all human pharmaceutical and medical
device applications, all tissue engineering and regenerative medicine
uses, and all research applications. Previously, BioTime's license in
the United States was not exclusive and the fields of use of the
technology permitted by the license were not as broad.
"We are pleased to have an exclusive license to the full spectrum of
human medical products possible with HyStem ,"
said William Tew, Ph.D., Chief Commercial Officer at BioTime. "In
addition to Renevia which is currently in preclinical studies,
we have initiated development programs for additional products that are
planned as relatively near-term sources of revenue while strategically
laying the foundation for the wide array of cell-based regenerative
therapies that may be developed based on stem cell sciences."
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 enhanced
through subsidiaries focused on specific fields of application. BioTime
develops and markets research products in the field of stem cells and
regenerative medicine, including a wide array of proprietary ACTCellerate
cell lines, HyStem hydrogels, culture media, and
differentiation kits. BioTime is developing Renevia (formerly known as HyStem -Rx),
a biocompatible, implantable hyaluronan and collagen-based matrix for
cell delivery in human clinical applications. 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.
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
the diagnostic product PanC-Dx currently being developed for the
detection of cancer in blood samples. 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 subsidiary,
LifeMap Sciences, Inc., markets GeneCards , the
leading human gene database, and is developing an integrated database
suite to complement GeneCards that will also
include the LifeMap database of embryonic development, stem cell
research and regenerative medicine, and MalaCards, the human
disease database. LifeMap will also market BioTime research products.
BioTime's lead product, Hextend , is a blood plasma
volume expander manufactured and distributed in the U.S. by Hospira,
Inc. and in South Korea by CJ CheilJedang Corporation under exclusive
licensing agreements. Additional information about BioTime can be found
on the web at www.biotimeinc.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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