Full Press Release Details
Sciences, Inc. Announces Addition to Board of Directors and Provides
Update on Product Portfolio Development
ALAMEDA, Calif.--(BUSINESS WIRE)--October 19, 2012--BioTime, Inc. (NYSE
MKT: BTX) and its subsidiary, LifeMap Sciences, Inc., today announced
the appointment of Louis E. Silverman to LifeMap Sciences' board of
Mr. Silverman is an experienced health care executive with board level
and operating experience in health care IT, pharmaceuticals, home health
care, worker's compensation managed care and revenue cycle management.
From September 2009 through to its successful sale in June of 2012, Mr.
Silverman was the Chief Executive Officer of privately held Marina
Medical Billing Service Inc., a company focused on providing revenue
cycle management services nationally to emergency room physicians. Prior
to joining Marina Medical, Mr. Silverman was President and Chief
Executive Officer of Lifecomm, Inc., a Qualcomm Incorporated incubated
wireless health services start-up. From 2000 - 2008, Mr. Silverman was
President and Chief Executive Officer of Quality Systems, Inc., a
developer of medical and dental practice management software, which he
led to significant revenue growth and an increase in market value from
$42 million to $1.2 billion. Previously, Mr. Silverman was the Chief
Operations Officer of Corvel Corporation. Mr. Silverman currently serves
as a member of the Board of Directors of Questcor Pharmaceuticals, Inc.,
a publicly traded biopharmaceutical company focused on the treatment of
patients with serious, difficult-to-treat autoimmune and inflammatory
disorders. Mr. Silverman also serves on the Board of Directors of
Comarco, Inc., a public company. Mr. Silverman earned a Bachelor of Arts
degree from Amherst College and a Masters in Business Administration
from Harvard Graduate School of Business Administration.
In addition, today LifeMap Sciences also announced progress on key
development initiatives. During the final quarter of the calendar year
2012, the company expects to launch or upgrade its four database
products: GeneCards , MalaCards, PanDaTox,
and LifeMap Discovery . In addition, LifeMap Sciences will launch
the marketing and sales of BioTime's proprietary research product lines,
including PureStem human progenitor and human embryonic stem
cell lines via the company's LifeMap BioReagents portal.
Another major LifeMap Sciences initiative is its therapeutic discovery
collaboration with BioTime, which utilizes the LifeMap Discovery
platform and leverages the LifeMap Sciences scientific team (including
ten Ph.D. and four M.S. biologists and bioinformatics specialists) to
research and identify those progenitor cell lines that are most likely
to be useful in developing cell-based regenerative medicine therapies
for a wide range of diseases. Once identified, selected cell lines will
be marketed by LifeMap Sciences for research purposes via the LifeMap
BioReagents portal and may be advanced into therapeutic development
by BioTime and/or LifeMap Sciences.
"Adding an experienced health care executive to our Board of Directors
and delivering meaningful enhancements to our product portfolio marks
2012 as a year of great progress for our company and sets the stage for
continued growth and expansion into 2013," stated David Warshawsky,
Ph.D., LifeMap Sciences' Chief Executive Officer.
About LifeMap Sciences, Inc.
LifeMap Sciences' (www.lifemapsc.com) core technology and
business is based on its integrated database suite, the discovery
platform for biomedical and stem-cell research. This platform includes GeneCards :
the leading human gene database; LifeMap Discovery , the database
of embryonic development, stem cell research and regenerative medicine;
and MalaCards, the human disease database. LifeMap Sciences also
markets PanDaTox, an innovative, recently developed, searchable
database that can aid in the discovery of new antibiotics and
biotechnologically beneficial products.
In addition to database offerings, BioTime plans to make LifeMap
Sciences BioTime's principal marketing subsidiary for research products,
including PureStem human progenitor cell lines, GMP human
embryonic stem (hES) cell lines, ESpan growth media for
progenitor cell lines, and cell differentiation media for
non-therapeutic uses, via its LifeMap BioReagents portal.
LifeMap Sciences will utilize its databases as part of its online
marketing strategy to reach life sciences researchers at biotech and
pharmaceutical companies and at academic institutions and research
hospitals worldwide.
In a therapeutic discovery collaboration with BioTime, LifeMap's
scientists utilize LifeMap's proprietary platform, including LifeMap
Discovery , its stem cell database, along with the GeneCards
and MalaCards integrated database suite, to aid in the
development of BioTime's proprietary PureStem human
progenitor cell lines into products for the treatment of human diseases,
especially degenerative diseases that might be treatable with cell
replacement therapies. The LifeMap Discovery platform will be
used to select the progenitor cell lines that are most likely to be
useful in developing cell-based regenerative medicine therapies for a
wide range of diseases.
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 fields of stem cells and
regenerative medicine, including a wide array of proprietary PureStem
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