Full Press Release Details
Subsidiary Cell Cure Neurosciences Ltd. Awarded $1.6 Million Grant From
Israel's Office of the Chief Scientist
ALAMEDA, Calif. & JERUSALEM--(BUSINESS WIRE)--May 13, 2015--BioTime,
Inc. (NYSE MKT: BTX) and its subsidiary Cell Cure Neurosciences Ltd.
(Cell Cure) today announced that Cell Cure has been awarded a grant for
2015 of 6.24 million shekels (approximately $1.61 million) from Israel's
Office of the Chief Scientist (OCS) to help finance the development of OpRegen ,
a cell-based therapeutic product that consists of animal product-free
retinal pigment epithelial (RPE) cells with high purity and potency.
Cell Cure is now enrolling patients at Hadassah University Medical
Center in Jerusalem, Israel, in a clinical Phase I/IIa dose-escalation
study evaluating the safety and efficacy of OpRegen
for geographic atrophy (GA), the severe stage of the dry form of
age-related macular degeneration (dry-AMD). The Phase I/IIa clinical
trial was opened in February 2015 following regulatory clearance from
the U.S. Food and Drug Administration (FDA) and the Israeli Ministry of
Health. The trial consists of four cohorts and will evaluate three
different dose regimens. Details of the trial are available at https://clinicaltrials.gov/.
Cell Cure expects to report interim data from the cohorts in the coming
"We thank the Israel Office of the Chief Scientist for its commitment to
innovation and for continuing support of Cell Cure and its development
of a cell therapy-based treatment for a major disease of aging," said
Charles Irving, PhD, Chief Executive Officer of Cell Cure.
"I join with Dr. Irving in thanking the OCS for their generous support
in advancing pluripotent stem cell research into clinical applications,"
said Benjamin Reubinoff, MD, PhD, Chief Scientific Officer of Cell Cure,
Chairman of Obstetrics and Gynecology and Director of the Hadassah Human
Embryonic Stem Cell Research Center at Hadassah University Medical
Center, Jerusalem, Israel.
The OCS has previously supported Cell Cure, providing grants of
approximately $8 million since 2007, including the latest award. Under
the grant award agreement, Cell Cure is obligated to pay a 3.5% royalty
to the OCS on revenues from OpRegen up to an
amount equal to 100% of the grants received plus interest at a LIBOR
rate. Several BioTime subsidiaries, including Cell Cure, continue to
fund their operations not only through support from BioTime but also by
raising capital from outside investors, receiving grants, and generating
About the Office of the Chief Scientist
The Office of the Chief Scientist in the Ministry of Industry, Trade and
Labor is charged with the execution of government policy for the support
of industrial R&D. The goal of the OCS is to assist in the development
of technology in Israel as a means of fostering economic growth,
encouraging technological innovation and entrepreneurship, leveraging
Israel's scientific potential, enhancing the knowledge base of industry
in Israel, stimulating high value-added R&D, and encouraging R&D
collaboration both nationally and internationally. A variety of ongoing
support programs developed and offered by the OCS play a major role in
enabling Israel to be a key center for high-tech entrepreneurship.
About Cell Cure Neurosciences Ltd.
Cell Cure Neurosciences Ltd. was established in 2005 as a subsidiary of
ES Cell International Pte. Ltd. (ESI), now a subsidiary of BioTime, Inc.
(NYSE MKT: BTX). Cell Cure is located in Jerusalem, Israel on the campus
of Hadassah University Hospital. Cell Cure's mission is to become a
leading supplier of human cell-based therapies for the treatment of
retinal and neural degenerative diseases. Its technology platform is
based on the manufacture of diverse cell products sourced from
clinical-grade (GMP) human embryonic stem cells. Its current focus is
the development of retinal pigment epithelial (RPE) cells for the
treatment of age-related macular degeneration. Cell Cure's major
shareholders include BioTime, Inc., Hadasit BioHoldings Ltd. (Tel Aviv
Stock Exchange: HDST), and Teva Pharmaceuticals Industries Ltd. (NYSE:
TEVA). Additional information about Cell Cure can be found on the web at www.cellcureneurosciences.com.
BioTime, Inc., a pioneer in regenerative medicine, is a clinical-stage
biotechnology company. BioTime and its subsidiaries are leveraging their
industry-leading experience in pluripotent stem cell technology and a
broad intellectual property portfolio to facilitate the development and
use of cell-based therapies and gene marker-based molecular diagnostics
for major diseases and degenerative conditions for which there presently
are no cures. The lead clinical programs of BioTime and its subsidiaries
include OpRegen , currently in a Phase I/IIa
trial for the treatment of the dry form of age-related macular
degeneration; AST-OPC1, currently in a Phase I/IIa trial for
spinal cord injuries; Renevia , currently in a pivotal trial in
Europe as an injectable matrix for the engraftment of transplanted cells
to treat HIV-related lipoatrophy; and PanC-Dx cancer
diagnostics, nearing the completion of initial clinical studies for the
detection of bladder, breast, and lung cancers. AST-VAC2, a
cancer vaccine, is in the pre-clinical trial stage.
BioTime's subsidiaries include the publicly traded Asterias
Biotherapeutics, Inc. (NYSE MKT: AST), developing pluripotent stem
cell-based therapies in neurology and oncology, including AST-OPC1
and AST-VAC2; Cell Cure Neurosciences Ltd., developing stem
cell-based therapies for retinal and neurological disorders, including OpRegen ;
OncoCyte Corporation, developing PanC-Dx cancer diagnostics;
LifeMap Sciences, Inc., developing and marketing an integrated on-line
database resource for biomedical and stem cell research; LifeMap
Solutions, Inc., a subsidiary of LifeMap Sciences, developing mobile
health (mHealth) products; ES Cell International Pte Ltd, which has
developed cGMP-compliant human embryonic stem cell lines that are being
marketed by BioTime for research purposes under the ESI BIO branding
program; OrthoCyte Corporation, developing therapies to treat orthopedic
disorders, diseases and injuries; and ReCyte Therapeutics, Inc.,
developing therapies to treat a variety of cardiovascular and related
BioTime common stock is traded on the NYSE MKT under the symbol BTX. For
more information, please visit www.biotimeinc.com or
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