BioTime Appoints Angus C. Russell to Board of Directors
December 15 2014 - 8:38AM
Business Wire
BioTime, Inc. (NYSE MKT: BTX), a biotechnology company that
develops and markets products in the field of regenerative
medicine, today announced that Angus C. Russell, former Chief
Executive Officer of Shire plc, has been appointed to BioTime's
Board of Directors.
Shire is a leading global specialty biopharmaceutical company.
During Mr. Russell's tenure as Chief Executive Officer of Shire
from 2008 until his retirement in April 2013, Shire introduced
several new products, grew revenues over 50%, and increased
earnings approximately five-fold to $745 million. In addition, Mr.
Russell served as Chairman of Shire’s Leadership Team and a lead
member of the Shire Management Committee, which designed and
implemented Shire’s immensely successful long-term business
strategy. Previously, Mr. Russell was Chief Financial Officer at
Shire from 1999 to 2008. Shire's market capitalization grew from
$1.4 billion when Mr. Russell joined the company in 1999 to $17.5
billion when he retired at the end of April 2013. He currently
serves on the boards of directors of Mallinckrodt plc and Revance
Therapeutics, Inc. In addition, he previously served on the boards
of InterMune, Inc., which was acquired by Roche Holding AG in
September 2014, and Questcor Pharmaceuticals, Inc., which was
acquired by Mallinckrodt plc in August 2014.
“Angus is a respected biopharmaceutical industry leader with
more than 30 years of experience in commercialization, operations,
product development and strategic acquisitions," said Dr. Michael
D. West, Chief Executive Officer of BioTime. “Angus’ impressive
track record will bring significant value to BioTime and its Board
of Directors. We look forward to drawing on his years of experience
as we plan for commercialization of our diagnostic and medical
device products that are in late stage clinical trials, and as our
subsidiaries Asterias Biotherapeutics and Cell Cure Neurosciences
commence clinical trials of their therapeutic products.”
“BioTime is the technology leader in developing cellular
therapeutics from its leading platform of pluripotent stem cell
technology," Mr. Russell said. “Pluripotent stem cell technology
has the potential to transform how medicine is practiced. The key
to being the industry leader in this field will be combining the
best of science with a solid development and commercialization
strategy. I look forward to working with the BioTime board and
management team to speed these new therapies to the patients who
need them so urgently.”
Prior to joining Shire, Mr. Russell served at ICI, Zeneca, and
AstraZeneca for 19 years, most recently as Vice President of
Corporate Finance at AstraZeneca PLC. In that role he was
responsible for financial input into merger and acquisition
activities, management of tax, legal and finance structure,
investor relations, and the management of various financial risks.
Mr. Russell also held a number of positions within Zeneca Group PLC
from 1993 until 1999, including Group Treasurer. He is a chartered
accountant, having qualified with Coopers & Lybrand (now
PricewaterhouseCoopers LLP).
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:
- Asterias Biotherapeutics, Inc. is
developing pluripotent stem-cell based therapies in neurology and
oncology, including AST-OPC1 oligodendrocyte progenitor cells in
spinal cord injury, multiple sclerosis and stroke, and AST-VAC2, an
allogeneic dendritic cell-based cancer vaccine. Asterias Series A
common stock is traded on the NYSE MKT under the symbol AST.
- BioTime Asia, Ltd., a Hong Kong
company, may offer and sell products for research use for BioTime’s
ESI BIO Division.
- Cell Cure Neurosciences Ltd. is an
Israel-based biotechnology company focused on developing stem
cell-based therapies for retinal and neurological disorders.
OpRegen™ is currently in a Phase I/IIa clinical trial for the
treatment of the dry-form of age-related macular degeneration.
- ESI BIO is the research and product
marketing division of BioTime, providing stem cell researchers with
products and technologies to enable them to translate their work
into the clinic, including PureStem® progenitors and HyStem®
hydrogels.
- 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 Solutions, Inc. is a subsidiary
of LifeMap Sciences focused on developing mobile health (mHealth)
products.
- OncoCyte Corporation is developing
products and technologies to diagnose and treat cancer, including
PanC-Dx™, with four clinical studies currently underway.
- OrthoCyte Corporation is developing
therapies to treat orthopedic disorders, diseases and
injuries.
- ReCyte Therapeutics, Inc. is developing
therapies to treat a variety of cardiovascular and related ischemic
disorders, as well as products for research using cell
reprogramming technology.
BioTime common stock is traded on the NYSE MKT 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
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
BioTime, Inc.Judith Segall, 510-521-3390 ext.
301jsegall@biotimemail.comorInvestor Contact:EVC Group, Inc.Michael
Polyviou, 212-850-6020mpolyviou@evcgroup.comGregory Gin,
862-236-0673ggin@evcgroup.comDoug Sherk,
415-652-9100dsherk@evcgroup.com
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