-- Appointment Brings 30 Years of Strategic Advisory and Capital
Markets Experience
-- OncoCyte is Advancing Three Non-invasive Cancer Diagnostics
Through Clinical Trials
OncoCyte Corporation, a cancer diagnostics company and a member
of the BioTime, Inc. (NYSE MKT:BTX) family of companies, announced
today that Andy Arno has been appointed to the Company’s Board of
Directors.
Andy Arno, 56, brings to OncoCyte a wealth of knowledge from his
30 years of capital markets experience working with emerging
growth companies. He is currently Vice Chairman of “The Special
Equities Group” at Chardan Capital Markets, LLC, a privately held
investment banking firm. He was previously Managing Director of
Emerging Growth Equities, an investment bank, and Vice President of
Sabr, Inc., as well as President of LOMUSA Limited, an
investment banking firm. From 2009 to 2012, Andy served as Vice
Chairman and Chief Marketing Officer of Unterberg Capital, LLC, an
investment advisory firm that he co-founded. He also served as
Vice Chairman and Head of Equity Capital Markets of Merriman
Capital LLC, an investment banking firm, and served on the board of
its parent company, Merriman Holdings, Inc. Mr. Arno currently
serves on the boards of Asterias Biotherapeutics (NYSE MKT:AST) and
Smith Micro Software, Inc., and is a graduate of George Washington
University.
“OncoCyte is uniquely positioned to advance in the non-invasive
diagnostic market targeting lung, breast and bladder cancer. Andy’s
wealth of experience in the capital markets and advising emerging
growth companies will be invaluable as we develop and
execute strategies to fund OncoCyte’s development and growth.
We look forward to having Andy Arno assist us with his vision,
leadership and expertise in support of the Company’s mission
as we build our diagnostic product pipeline and team,” said William
Annett, OncoCyte’s Chief Executive Officer.
About OncoCyte’s Cancer Diagnostics Program
Positive clinical results from two prospective clinical studies
of PanC-Dx™ were presented at the annual meeting of the American
Association for Cancer Research (AACR) in April 2015. PanC-Dx™ is
OncoCyte’s class of proprietary, non-invasive cancer diagnostic
tests. The AACR presentation featured the high levels of
sensitivity and specificity demonstrated for PanC-Dx™ when used for
the non-invasive detection of the most common type of bladder
cancer, urothelial carcinoma (UC). These clinical results were
announced in collaboration with investigators from a Leading
Medical Institution.
In addition, initial data from a large, prospective clinical
study showed the potential of PanC-Dx™ as a non-invasive,
blood-based diagnostic test to screen for multiple types of human
cancers, including breast cancer. The early data revealed the
utility of the protein Collagen Type X (COL10A1) in distinguishing
patients with malignant breast lesions from those with negative
findings. The clinical data were presented in April 2015 at the
annual meeting of the American Association for Cancer Research
(AACR).
About OncoCyte Corporation
OncoCyte, a majority-owned subsidiary of BioTime, Inc., is
developing novel products for the diagnosis and treatment of cancer
in order to improve the quality and length of life of cancer
patients. Based on large unmet need, market size, and data
generated thus far from patient sample screening, OncoCyte is
initially focusing its efforts on developing non-invasive
diagnostic products for use in detecting lung, bladder, and breast
cancers. OncoCyte is developing a class of non-invasive cancer
diagnostics based on a proprietary set of cancer markers
characterized, in part, by broad gene expression patterns in
numerous cancer types. The Company’s biomarkers were discovered as
a result of ongoing research within OncoCyte and BioTime on the
gene expression patterns associated with embryonic development.
This research has demonstrated that many of the same genes
associated with normal growth during embryonic development are
abnormally reactivated by cancer cells. These genes regulate such
diverse processes as cell proliferation, cell migration, and blood
vessel formation. Many of these genes have not been previously
associated with cancer. Moreover, expression of a large subset of
these genes is conserved across numerous cancer types (e.g.,
cancers of the breast, colon, ovaries, etc.), suggesting that these
genes may control fundamental processes during cancer growth and
progression. In addition to their potential value in developing
diagnostic biomarkers, an understanding of the pattern of
expression of these genes may also enable the development of
powerful new cancer therapeutics that target rapidly proliferating
cancer cells.
About BioTime
BioTime, Inc., a pioneer in regenerative medicine, is a
clinical-stage biotechnology company. BioTime and its subsidiaries
are leveraging their industry-leading experience in pluripotent
stem cell technology and a broad intellectual property portfolio to
facilitate the development and use of cell-based therapies and gene
marker-based molecular diagnostics for major diseases and
degenerative conditions for which there presently are no cures. The
lead clinical programs of BioTime and its subsidiaries include
OpRegen®, currently in a Phase I/IIa trial for the treatment of the
dry form of age-related macular degeneration; AST-OPC1, currently
in a Phase I/IIa trial for spinal cord injuries; Renevia™,
currently in a pivotal trial in Europe as an injectable matrix for
the engraftment of transplanted cells to treat HIV-related
lipoatrophy; and PanC-Dx™ cancer diagnostics, nearing the
completion of initial clinical studies for the detection of lung,
bladder, and breast cancers. AST-VAC2, a cancer vaccine, is in the
pre-clinical trial stage.
BioTime’s family of companies include the publicly traded
Asterias Biotherapeutics, Inc. (NYSE MKT: AST), developing
pluripotent stem cell-based therapies in neurology and oncology,
including AST-OPC1 and AST-VAC2; Cell Cure Neurosciences Ltd.,
developing stem cell-based therapies for retinal and neurological
disorders, including OpRegen® for dry-AMD; OncoCyte Corporation,
developing non-invasive cancer diagnostics; LifeMap Sciences, Inc.,
developing and marketing an integrated on-line database resource
for biomedical and stem cell research; LifeMap Solutions, Inc., a
subsidiary of LifeMap Sciences, developing mobile health (mHealth)
products; ES Cell International Pte Ltd, which has developed
cGMP-compliant human embryonic stem cell lines that are being
marketed by BioTime for research purposes under the ESI BIO
branding program; OrthoCyte Corporation, developing therapies to
treat orthopedic disorders, diseases, and injuries; and ReCyte
Therapeutics, Inc., developing therapies to treat a variety of
cardiovascular and related ischemic disorders.
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.
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http://news.biotimeinc.com
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version on businesswire.com: http://www.businesswire.com/news/home/20150715005487/en/
BioTime, Inc.Dan L. Lawrence, 510-521-3390 ext.
349dlawrence@biotimemail.comorInvestor Contact:EVC Group,
Inc.Michael Polyviou, 646-445-4800mpolyviou@evcgroup.com
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