TMCnet News
BioTime Subsidiary ES Cell International and GE Healthcare Cross-License patents in the Field of Cell Assays for Drug TestingBioTime, Inc. (NYSE MKT: BTX) today announced that its subsidiary ES Cell International Pte. Ltd. ("ESI (News - Alert)") 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 potential collaborators." About BioTime 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® progenitors, HyStem® 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:
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. To receive ongoing BioTime corporate communications, please click on the following link to join our email alert list: http://news.biotimeinc.com
|