BioTime Forms New Subsidiary AgeX Therapeutics, Inc. to Develop its Programs Focused on Human Aging
06 April 2017 - 9:00PM
Business Wire
Objective is to quickly establish leadership in
the emerging biotechnology field of Aging through pluripotency and
iTR™ assets
BioTime continues execution of corporate
simplification strategy while remaining focused on Ophthalmology,
Aesthetics and Therapeutics Delivery
BioTime, Inc. (NYSE MKT:BTX), a clinical-stage biotechnology
company developing and commercializing products addressing
degenerative diseases, today announced the formation of AgeX
Therapeutics, Inc., which will consolidate certain BioTime
subsidiaries and programs in the field of interventional
gerontology. The formation of AgeX continues the implementation of
BioTime’s strategy to simplify its corporate structure and
operations as well as focus resources on the continued clinical
development of its two lead programs; Renevia®, a proprietary cell
delivery matrix designed to facilitate the stable engraftment of
transplanted cells that is currently in a pivotal clinical trial,
and OpRegen®, a pluripotent cell-derived cell therapy that is in a
Phase 1/2a clinical trial for the dry form of age related macular
degeneration (dry-AMD). The formation of AgeX provides the new
BioTime subsidiary greater flexibility to explore external
financing alternatives as well as strategic options to grow its
technology platform.
BioTime’s Co-CEO, Michael D. West, Ph.D., has been considered a
foremost expert in regenerative medicine and aging since he founded
Geron Corporation in 1990, the first public biotechnology company
focused on the biology of human aging. At Geron he led the efforts
in the first isolation of human pluripotent stem cells and in
telomere biology, the “clocking” mechanism behind human cell
aging.
The mission of AgeX is to apply technology related to
pluripotent stem cells and telomere biology to aging and
age-related disease. AgeX is expected to have three initial areas
of focus: 1) the development of pluripotent stem cell-derived brown
adipocytes for the treatment of Type II diabetes and potentially
obesity; 2) the development of vascular progenitors to improve
circulation to ischemic tissues in patients suffering from heart
disease; and 3) Induced Tissue Regeneration (iTR)TM - an emerging
technology invented and patented by BioTime scientists that is
designed to profoundly reprogram aged tissues in the body in a way
that can restore a regenerative phenotype normally expressed only
in the first few weeks of human development. These technologies
were the subject of a recent conference presentation by Dr. West
that is available on YouTube called The Future of Aging.
“The biotechnology of aging has finally come of age,” said Dr.
West. “The aging U.S. population is the demographic trend of our
time. In our opinion, these assets, carefully assembled and
developed over the past few years, will facilitate our leadership
of the explosive growth of product development in the emerging
field of interventional gerontology.”
“The formation of AgeX is in line with our stated objectives of
simplification and unlocking value,” said Adi Mohanty, Co-CEO of
BioTime. “This step will provide greater flexibility to AgeX as it
considers further development of its technology platform and grows
its business. This step is also especially important to BioTime as
it increasingly focuses its resources on the clinical development
of its Ophthalmology, Aesthetics and Therapeutics Delivery
products.”
About BioTime
BioTime, Inc. is a clinical-stage biotechnology company focused
on developing and commercializing novel therapies developed from
what the company believes to be the world’s premier collection of
pluripotent cell assets. The foundation of BioTime’s core
therapeutic technology platform is pluripotent cells that 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 also
has significant equity holdings in two publicly traded companies,
Asterias Biotherapeutics, Inc. and OncoCyte Corporation, which
BioTime founded and which, until recently, were majority-owned
consolidated subsidiaries of BioTime.
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 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/20170406005527/en/
Investor Contact:Brian Moore, 310-770-0389bmoore@evcgroup.comorMedia Contact:Gotham
Communications, LLCBill Douglass,
646-504-0890bill@gothamcomm.com
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