BioTime and Subsidiary Cell Cure Neurosciences Establish Innovative Cell Therapy Manufacturing Center in Jerusalem, Israel
03 January 2017 - 11:00PM
Business Wire
-Supplying OpRegen® for the Ongoing Clinical
Trial for the Treatment of Dry Age-Related Macular
Degeneration-
-Center has Capability to Manufacture
Additional BioTime Products-
BioTime, Inc. (NYSE MKT: BTX and TASE: BTX), a
clinical-stage biotechnology company developing and commercializing
products addressing degenerative diseases, and its majority-owned
subsidiary, Cell Cure Neurosciences Ltd, today dedicated a new, 800
square meter (8,600 square feet), state-of-the-art, cGMP
manufacturing center located in the Jerusalem Bio Park on the
campus of Hadassah University Hospital in Jerusalem.
The new manufacturing center, initially to be staffed by 25-30
employees, is equipped to produce a range of cell therapies for the
treatment of various degenerative human diseases. In the near term,
the plan is to supply OpRegen® for the company’s ongoing clinical
trial program for the treatment of dry age-related macular
degeneration, or dry AMD. OpRegen provides a particular cell type
in the retina, called Retinal Pigment Epithelial cells, to replace
those lost due to the disease. Data presented at the ISOPT Clinical
Symposium on December 2, 2016, indicate that OpRegen at the first
dose caused no serious adverse events in the first patient cohort
and retinal imaging suggests the presence and survival of the
transplanted cells in the subretinal space for up to one year.
“The opening of this new, innovative manufacturing center,
demonstrates our continued commitment and is the culmination of a
multi-year effort by BioTime and its subsidiary, Cell Cure
Neurosciences, to manufacture cell therapies in Israel on an
industrial scale,” commented Adi Mohanty, Co-CEO of BioTime, Inc.
“Near term, this new center will manufacture OpRegen doses to treat
the patients enrolled in the clinical trial program. Longer term,
this center may manufacture additional cell therapies as our
products progress into clinical trials and then into commercial
distribution.”
Charles Irving, CEO of Cell Cure Neurosciences Ltd, stated, “The
opening of this new manufacturing center is an exciting and
important development. Our team in Israel together with BioTime is
advancing the OpRegen clinical trial program and the manufacture of
OpRegen. We look forward to continued close collaboration with
BioTime as it advances additional cell therapy programs in the near
future.”
About BioTime
BioTime, Inc. is a clinical-stage biotechnology company focused
on developing and commercializing products addressing degenerative
diseases. The foundation of BioTime’s core therapeutic technology
platform is pluripotent cells. Pluripotent cells are capable of
becoming any of the cell types in the human body. Pluripotent cells
have potential application in many areas of medicine with large
unmet patient needs, including various age-related degenerative
diseases and degenerative conditions for which there presently are
no cures. Unlike pharmaceuticals that require a molecular target,
therapeutic strategies based on the use of pluripotent cells are
generally aimed at regenerating or replacing affected cells and
tissues, and therefore may have broader applicability than
pharmaceutical products.
BioTime common stock is traded on the NYSE MKT and TASE under
the symbol BTX. For more information, please visit
www.biotimeinc.com or connect with the company on Twitter,
LinkedIn, Facebook, YouTube, and Google+.
Forward-Looking Statements
Certain statements contained in this release are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements pertaining to
future financial and/or operating results, future growth in
research, technology, clinical development, and potential
opportunities for BioTime, Inc. 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,
Inc. and its subsidiaries, particularly those mentioned in the
cautionary statements found in more detail in the “Risk Factors”
section of its Annual Reports on Form 10-K and Quarterly Reports on
Form 10-Q filed with the SEC (copies of which may be obtained at
www.sec.gov). Subsequent events and developments may cause these
forward-looking statements to change. BioTime, Inc. specifically
disclaims any obligation or intention to update or revise these
forward-looking statements as a result of changed events or
circumstances that occur after the date of this release, except as
required by applicable law.
To receive ongoing BioTime corporate communications, please
click on the following link to join our email alert list:
http://news.biotimeinc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170103005453/en/
Investor Contact:EVC Group, Inc.Matt Haines,
917-733-9297mhaines@evcgroup.comorMedia Contact:Gotham
Communications, LLCBill Douglass,
646-504-0890bill@gothamcomm.com
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