BioTime Organizes New ESI BIO Division to Develop, Manufacture and Market the Company’s Cell-Based Research Products
Appoints Jeffrey Janus as CEO of ES Cell International Pte Ltd.
ALAMEDA, Calif.--(BUSINESS WIRE)--Oct. 28, 2013--
BioTime, Inc. (NYSE MKT: BTX) today announced changes to the
organization and management of its research products business. The
research products business will be consolidated into a new ESI BIO
Division which shall be BioTime’s primary developer, manufacturer and
distributor for its growing portfolio of stem-cell-based research
products. Jeffrey Janus, BioTime’s Vice President of Sales and
Marketing, will lead ESI BIO and has also been appointed as the CEO of
BioTime’s Singapore-based subsidiary ES Cell International Pte Ltd.
(“ESI Singapore”) which will be a part of the ESI BIO Division. Mr.
Janus has over 30 years of experience in the cell-based biotechnology
industry, serving in various executive and board level positions.
ESI BIO will manufacture and market the ESI human embryonic stem (hES)
cell lines developed by ESI Singapore, PureStem™ human embryonic
progenitors, HyStem® hyaluronan-based
hydrogels, and kits for stem cell differentiation and reprogramming. ESI
BIO also plans to develop additional new PureStem™ human
embryonic progenitors and HyStem® products, and will
work with BioTime’s LifeMap Sciences, Inc. subsidiary to develop and
market a new database product. LifeMap Sciences will continue to use its
BioReagents website to market BioTime’s PureStem™ progenitor
cells and reagents and the ESI hES cell lines, as well as any new
research products developed or acquired by the ESI BIO Division.
However, ESI BIO will take on a larger role in managing the LifeMap
BioReagents website. These research products will be designed to assist
researchers in their goals of translating their discoveries to the
clinic, thus facilitating the regulatory pathway for ESI BIO’s customers
in their path from research to clinical trials.
ESI Singapore created the world’s first “clinical grade” hES cell lines
under conditions designed to be compliant with principles of current
Good Manufacturing Practices (cGMP), making them suitable for use in
clinical research and regenerative medicine. BioTime acquired ESI
Singapore in May 2010 and has since made ESI Singapore’s clinical and
research grade hES cells available to scientists worldwide. ESI
Singapore plans to provide existing PureStem™ embryonic
progenitor cells along with its clinical-grade hES cells to researchers
in the Pacific Rim nations. (http://www.youtube.com/watch?v=hNCz238w4ss).
“Cell-based discoveries with the potential to cure human diseases must
ultimately be acceptable to regulatory agencies. We plan to continue to
expand ESI BIO’s historic role in providing products giving scientists
the highest chance that their research results will be translatable to
the clinic,” said Mr. Janus. “ESI BIO’s human embryonic stem cell lines
and its HyStem® hydrogels are available either
as economic research grade products or as clinical grade products. Its
novel PureStem™ clonally pure embryonic progenitors form
potentially therapeutic tissues not formed by adult stem cells. These
products illustrate ESI BIO’s growing platform of state of-the-art
products that are pure, precisely identified, and give a high level of
assurance that cell-based discoveries will be clinically compliant.”
BioTime's CEO Dr. Michael West stated, “By providing ESI BIO’s products
to the research community, we not only have the opportunity to generate
near-term revenues, but we also allow academic researchers to perform
research on the manifold uses of the cells with federal and state
funding. The goal is to establish our research products as industry
standards for a wide array of medical research.”
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. BioTime is developing Renevia™ (a HyStem®
product) as a biocompatible, implantable hyaluronan and collagen-based
matrix for cell delivery in human clinical applications. 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
CheilJedang Corporation under exclusive licensing agreements.
BioTime is also developing stem cell and other products for research,
therapeutic, and diagnostic use through its subsidiaries:
OncoCyte Corporation is developing products and technologies to
diagnose and treat cancer.
ES Cell International Pte Ltd., a Singapore private limited company,
develops hES products for research use.
BioTime Asia, Limited, a Hong Kong company, may offer and sell
products for research use for BioTime’s ESI BIO Division.
OrthoCyte Corporation is developing therapies to treat orthopedic
disorders, diseases and injuries.
ReCyte Therapeutics, Inc. is developing therapies to treat a variety
of blood and lymphatic vascular disorders, as well as products for
research using iPS and other cell reprogramming technology.
Cell Cure Neurosciences Ltd. is an Israel-based biotechnology company
focused on developing stem cell-based therapies for retinal and
neurological degenerative diseases. Its lead product is OpRegen®
for the treatment of macular degeneration.
LifeMap Sciences, Inc. markets, sells and distributes GeneCards®,
the leading human gene database, as part of an integrated database
suite that also includes the LifeMap Discovery™ database of
embryonic development, stem cell research and regenerative medicine,
and MalaCards, the human disease database. LifeMap Sciences
also markets BioTime research products and PanDaTox, an
innovative, recently developed, searchable database that can aid in
the discovery of new antibiotics and biotechnologically beneficial
Asterias Biotherapeutics, Inc. is a newly formed subsidiary whose
first acquisition was the stem cell assets of Geron Corporation,
including patents and other intellectual property, biological
materials, reagents and equipment for the development of new
therapeutic products for regenerative medicine.
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Statements pertaining to future financial and/or operating results,
future growth in research, technology, clinical development, and
potential opportunities for Asterias and 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 Asterias or BioTime
and its subsidiaries, particularly those mentioned in the cautionary
statements found in Asterias’ and BioTime's Securities and Exchange
Commission filings. Asterias and BioTime disclaim any intent or
obligation to update these forward-looking statements.
Source: BioTime, Inc.
Lesley Stolz, Ph.D., 510-521-3390, ext. 367
Vice President, Corporate Development
Segall, 510-521-3390, ext. 301