|[April 23, 2012]
BioTime and its Subsidiary OrthoCyte Corporation Provides Update on Preclinical Development of OTX-CP07
ALAMEDA, Calif. --(Business Wire)--
BioTime, Inc. (NYSE Amex: BTX) announced today that BioTime's CEO
Michael West, Ph.D. will provide and update the development of OTX-CP07
by BioTime's subsidiary OrthoCyte Corporation at an investor meeting in
New York City. OTX-CP07 is a combination product with human embryonic
cartilage progenitors manufactured from human embryonic stem cells
formulated with BioTime's proprietary cell delivery device ReneviaTM.
Dr. West will describe studies underway at OrthoCyte that have currently
identified progenitors to eight diverse cartilage types of the human
body, as well as diverse tendon, bone, and muscle progenitors that may
be useful in orthopedic research and the development of novel
Dr. West will also show a video presentation from OrthoCyte's Chief
Scientific Officer, Arnold Caplan, Ph.D., who is also Director of the
Skeletal Research Center at Case Western Reserve University. In the
video, Dr. Caplan discusses the significance of the potential use of
definitive progenitors of human cartilage for the repair of
osteoarthritis, a disease afflicting an estimated 27 million Americans.
Dr. West's presentation as well as the video of Dr. Caplan's
presentation will be available for viewing on BioTime's web site www.biotimeinc.com
as well as OrthoCyte Corporation's web site at www.orthocyte.com.
About OrthoCyte Corporation.
OrthoCyte Corporation (OrthoCyte), www.orthocyte.com,
a subsidiary of BioTime, Inc., is a biotechnology company developing
cell-based therapies for orthopedic disease. The company's lead product
is OTX-CP07, monoclonal human embryonic progenitor cells lines for the
repair of osteoarthritis. In addition, OrthoCyte has proprietary
hES-derived progenitors to skeletal muscle, tendon, and bone, all in the
preclinical phases of development.
About BioTime, Ic.
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™ 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™
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 the diagnostic product PanC-DxTM
currently being developed for the detection of cancer in blood samples,
and therapeutic strategies 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®, 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 (News - Alert)
can be found on the web at www.biotimeinc.com.
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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