BioTime, Inc. (NYSE MKT and TASE: BTX), a clinical-stage
regenerative medicine company with a focus on pluripotent stem cell
technology, today announced that the Company’s Board of Directors
has appointed Russell Skibsted to the position of Chief Financial
Officer, succeeding Robert Peabody.
Mr. Russell Skibsted brings over 25 years of financial
management and life sciences business experience to BioTime. He has
served as CFO for both public and private life sciences companies.
Immediately prior to joining the BioTime team, Russell was CFO at
Proove Biosciences, a commercial-stage diagnostics and personalized
medicine company. Previously he was Senior Vice President, CFO, and
Secretary of Aeolus Pharmaceuticals, a biotechnology company that
received over $150M in government funding in the biodefense and
oncology sectors. Mr. Skibsted also served as SVP and Chief
Business Officer of Spectrum Pharmaceuticals, a commercial-stage
pharmaceutical company, and as CFO of Hana Biosciences. During his
tenure at these companies, Mr. Skibsted successfully raised several
investment rounds, including both public and private offerings as
well as corporate partnerships, while raising the profile of these
companies and developing strong relationships with institutional
investors and analysts. Earlier in his career, Mr. Skibsted was
Partner and CFO at Asset Management Company, one of the oldest and
most respected venture capital firms in Silicon Valley. Mr.
Skibsted holds an MBA from the Stanford Graduate School of
Business, and a BA from Claremont McKenna College.
“The addition of Russell to our team is consistent with our
commitment to evolve the management of BioTime as we prepare for
later stage clinical trials and future commercial operations,”
commented Adi Mohanty, BioTime’s co-CEO. “I’m confident that
Russell’s proven leadership and experience in a wide range of
public and private life sciences companies will strengthen our team
and help us to create more value for our shareholders.”
“I am excited to join BioTime,” said Skibsted. “BioTime is
clearly a leader in regenerative medicine with a strong foundation
in science and intellectual property. As the company progresses its
therapies for patients with chronic and degenerative diseases, I
look forward to helping BioTime to maintain a strong financial
position so that we are ready for the next phase of growth and
development.”
Robert W. Peabody has served as BioTime’s CFO since he joined
the company in 2007. Working with co-CEO Dr. Michael West, he has
helped BioTime to acquire and develop leading regenerative medicine
assets, including both products under development and a large
patent estate, thereby successfully repositioning the company to
have multiple clinical-stage programs and leadership of the
pluripotent stem cell field. Mr. Peabody has been instrumental in
the development of several early stage companies, having been a
co-founder of both Geron and Ocata Therapeutics, and having helped
to create Asterias Therapeutics. He is joining LifeMap Solutions to
apply his early stage expertise in assisting the company on its
business strategy, vision, and equity capital raising, among other
activities. Mr. Peabody stated that, “I want to welcome Russell to
the team, and say that in an effort to accelerate the overall
BioTime growth strategy, I will be available for consultation to
ensure continuity and a smooth transition.”
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 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 subsidiaries 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®; OncoCyte Corporation, developing cancer
diagnostics; LifeMap Sciences, Inc., developing and marketing an
integrated online 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 being marketed; 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 and TASE 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20151118005545/en/
BioTime, Inc.Dan L. Lawrence,
510-775-0510dlawrence@biotimeinc.comorEVC Group, Inc.Michael
Polyviou, 646-445-4800mpolyviou@evcgroup.comorMedia Contact:Gotham
Communications, LLCBill Douglass,
646-504-0890bill@gothamcomm.com
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