BioTime Forms BioTime Acquisition Corporation
Subsidiary will find to acquire resources and businesses in a branch dungeon and regenerative medicine fields
Dr. Thomas Okarma allocated Chief Executive Officer of a new company
ALAMEDA, Calif.–(BUSINESS WIRE)– BioTime, Inc. (NYSE MKT: BTX), an Alameda-based association vigilant in investigate and expansion of innovative new products in a margin of regenerative medicine utilizing branch cells and associated technology, announced now that it has shaped a new unconditionally owned subsidiary, BioTime Acquisition Corporation, to pursue opportunities and acquire resources and businesses in a fields of branch cells and regenerative medicine. Thomas Okarma, PhD, MD, will offer as a Chief Executive Officer and as a member of a house of directors of BioTime’s new subsidiary. Dr. Okarma is a former President and Chief Executive Officer of Geron Corporation and served on that company’s house of directors.
Since 2010, BioTime has stretched a range of a business by vital acquisitions and has been ceaselessly exploring other merger opportunities in a fields of interest. BioTime’s vital acquisitions include:
“Global advances on mixed fronts of branch dungeon biology have determined a substructure for an unifying business proceed to connect and interpret these discoveries into products that might change clinical medicine,” pronounced Thomas Okarma, a new company’s CEO. “Living dungeon therapies can now be scalably manufactured, well distributed to points of care, and tested in tranquil clinical trials. The idea of regenerative medicine is to go over a strech of pills and scalpels to grasp a new turn of recovering that may, after a singular administration of recovering cells, henceforth revive duty to tissues and viscera shop-worn by ongoing illness or injury. BioTime Acquisition Corporation intends to build a business by identifying, consolidating, and commercially building a best accessible dungeon therapy technologies to comprehend a intensity of regenerative medicine. Ultimately, a idea is to move these new therapies to a many millions of patients who need them.”
“The extent of Dr. Okarma’s knowledge in a margin of cell-based therapeutics is simply spectacular,” pronounced Michael D. West, PhD, BioTime’s Chief Executive Officer. “We demeanour brazen to operative together with him to interpret these new systematic advances into blurb products for a vast and flourishing markets driven by age-related degenerative diseases.”
Dr. Okarma has had a renowned career as a medicine and an dignitary and executive in a biotechnology industry. Dr. Okarma served as Geron’s President, Chief Executive Officer, and as a member of a house of directors from Jul 1999 until Feb 2011, after carrying before served as that company’s Vice President of Research and Development and Vice President of Cell Therapies. In 1985, Dr. Okarma founded Applied Immune Sciences, Inc. (AIS) and served primarily as a Vice President of Research and Development and subsequently as Chairman and Chief Executive Officer and as a executive until that association was acquired by Rhone-Poulenc Rorer in 1995. After that acquisition, Dr. Okarma served as a Senior Vice President during Rhone-Poulenc Rorer until Dec 1996. From 1980 to 1992, Dr. Okarma was a member of a expertise of a Department of Medicine during Stanford University School of Medicine. Dr. Okarma binds an AB from Dartmouth College, an MD and PhD from Stanford University, and is a connoisseur of a Executive Education module of a Stanford Graduate School of Business.
About BioTime, Inc.
BioTime, headquartered in Alameda, California, is a biotechnology association focused on regenerative medicine and blood plasma volume expanders. Its extended height of branch dungeon technologies is extended by subsidiaries focused on specific fields of application. BioTime develops and markets investigate products in a fields of branch cells and regenerative medicine, including a far-reaching array of disdainful ACTCellerate™ dungeon lines, HyStem® hydrogels, enlightenment media, and split kits. BioTime is building Renevia™ (formerly famous as HyStem®-Rx), a biocompatible, implantable hyaluronan and collagen-based pattern for dungeon smoothness in tellurian clinical applications. BioTime’s recovering product expansion plan is followed by subsidiaries that concentration on specific organ systems and associated diseases for that there is a high unmet medical need. BioTime’s infancy owned auxiliary Cell Cure Neurosciences Ltd. is building recovering products subsequent from branch cells for a diagnosis of retinal and neural degenerative diseases. BioTime’s auxiliary OrthoCyte Corporation is building recovering applications of branch cells to provide orthopedic diseases and injuries. Another subsidiary, OncoCyte Corporation, focuses on a evidence and recovering applications of branch dungeon record in cancer, including a evidence product PanC-Dx™ now being grown for a showing of cancer in blood samples. ReCyte Therapeutics, Inc. is building applications of BioTime’s disdainful prompted pluripotent branch dungeon record to retreat a developmental aging of tellurian cells to provide cardiovascular and blood dungeon diseases. BioTime’s auxiliary LifeMap Sciences, Inc. markets GeneCards®, a heading tellurian gene database, and is building an integrated database apartment to element GeneCards® that will also embody a LifeMap™ database of rudimentary development, branch dungeon investigate and regenerative medicine, and MalaCards, a tellurian illness database. LifeMap will also marketplace BioTime investigate products. BioTime’s lead product, Hextend®, is a blood plasma volume expander made and distributed in a U.S. by Hospira, Inc. and in South Korea by CJ CheilJedang Corporation underneath disdainful chartering agreements. Additional information about BioTime can be found on a web during www.biotimeinc.com.
Statements regarding to destiny financial and/or handling results, destiny expansion in research, technology, clinical development, and intensity opportunities for BioTime and a subsidiaries, along with other statements about a destiny expectations, beliefs, goals, plans, or prospects voiced by government consecrate forward-looking statements. Any statements that are not chronological fact (including, though not singular to statements that enclose difference such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be deliberate to be forward-looking statements. Forward-looking statements engage risks and uncertainties, including, but limitation, risks fundamental in a expansion and/or commercialization of intensity products, doubt in a ability to brand and finish intensity acquisitions, a ability to comprehend approaching advantages of and grasp approaching financial opening following finished acquisitions, a formula of clinical trials or regulatory approvals, need and ability to obtain destiny capital, and upkeep of egghead skill rights. Actual formula might differ materially from a formula approaching in these forward-looking statements and as such should be evaluated together with a many uncertainties that impact a business of BioTime and a subsidiaries, quite those mentioned in a cautionary statements found in BioTime’s Securities and Exchange Commission filings. BioTime disclaims any vigilant or requirement to refurbish these forward-looking statements.
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