BioTime Subsidiary ES Cell International and GE Healthcare Cross-License patents in the Field of Cell Assays for Drug Testing
December 15 2014 - 12:00PM
Business Wire
BioTime, Inc. (NYSE MKT: BTX) today announced that its
subsidiary ES Cell International Pte. Ltd. (“ESI”) and GE
Healthcare (GEHC) have signed a set of license agreements through
which GEHC received rights to ESI’s stem cell patents and ESI
received rights to stem cell patents controlled by GEHC, in both
cases for the development of cellular assays and models derived
from stem cells for use in drug discovery and toxicity screening.
In addition, the agreements give GEHC the right to grant
sub-licenses to the ESI patent portfolio and, in certain
circumstances, ESI may further sublicense its rights for the
purpose of marketing stem cell-derived products. Financial terms
were not disclosed.
As the worldwide pharmaceutical industry seeks to reduce the
cost of drug development and to bring more effective, safer drugs
to market, access to more biologically relevant and predictive cell
models is becoming increasingly important. The agreement provides
ESI with access to additional intellectual property and hence the
ability to further expand its product portfolio bringing the
benefits of stem cell derived assays and models to pharmaceutical
and cell science research.
“The mission of BioTime’s ESI BIO division, which includes ES
Cell International, is to sell high quality tools of regenerative
medicine to the research product markets, and this licensing
agreement will allow the company to provide superior products for
clinical research and drug testing,” said Jeffrey Janus, ES Cell
International’s CEO and BioTime’s VP of Sales and Marketing. “The
ESI BIO business has the potential to generate near-term revenues
for BioTime while simultaneously placing clinical grade cells,
injectable matrices, and related components of a wide array of
potential regenerative therapies into the hands of potential
collaborators.”
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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