BioTime Awarded Grant from the NIH
September 18 2017 - 7:00AM
Business Wire
- $1.56 Million Award
- Accelerates Retinal Restoration
Program
BioTime, Inc. (NYSE American:BTX), a clinical-stage
biotechnology company focused on developing and commercializing
products addressing degenerative diseases, today announced that it
has been awarded a grant of up to $1.56 million from the Small
Business Innovation Research program of the National Institutes of
Health (NIH). The grant provides funding to further develop
BioTime’s innovative, next generation vision restoration program
for more advanced retinal diseases and injuries, which severely
impact the quality of life for millions of people with no treatment
option. This initiative aims at improving vision in people affected
by blindness, whether caused by retinal injuries, age-related
macular degeneration, retinitis pigmentosa or other causes.
“This grant is a significant validation of our vision
restoration program from the NIH, which funds research and
development that they believe has a strong potential for technology
commercialization,” said Francois Binette, Ph.D., Head of Global
Development at BioTime. “At BioTime, we are leveraging our
expertise to develop a rich pipeline of cell therapy products for
ophthalmology. We remain focused on working with various
institutions to support these activities through important
non-dilutive funding like this grant.”
BioTime scientists have grown a piece of 3-dimensional
(3-D) retinal tissue using the Company’s proprietary pluripotent
cell technology platform. The 3-D retinal tissue contains all the
cell types that comprise the human retina, including retinal
pigment epithelium cells, photoreceptors and ganglion cells. Data
presented at ARVO demonstrates that BioTime’s 3-D retinal tissue
closely resembles a developing human retina. The technology may
ultimately be used to repair and restore sections of degenerated
retinal tissue to improve vision caused by retinal degeneration and
traumatic injury. The Company’s 3-D retinal tissue technology may
address the unmet need of implementing a retinal restoration
strategy to address severe retinal degenerative diseases, with a
mutation-free retinal tissue produced in a strictly controlled
laboratory setting.
This vision restoration program will be a collaborative effort
led by BioTime’s Principal Investigator Igor O. Nasonkin Ph.D.,
with Dr. Simon Petersen-Jones, Michigan State University (MSU) and
Dr. Magdalene Seiler, University of California, Irvine (UCI). Dr.
Petersen-Jones is the Myers-Dunlap Endowed Chair in Canine Health
in the department of Small Animal Clinical Sciences at MSU and is a
board certified veterinary surgeon. Dr. Petersen-Jones specializes
in ophthalmology and has characterized numerous large-eye animal
models that will play an essential role in demonstrating the
feasibility and utility of BioTime’s vision restoration therapies.
Dr. Seiler is an Assistant Professor in the Department of Physical
Medicine & Rehabilitation at the Sue and Bill Gross Stem Cell
Research Center at UCI’s School of Medicine and has developed a
well characterized small animal model for assessing
structure/function of subretinal tissue transplantation.
About BioTime, Inc.
BioTime is a clinical-stage biotechnology company focused on
developing and commercializing products addressing degenerative
diseases. The Company’s current clinical programs are targeting
three primary sectors, aesthetics, ophthalmology and cell/drug
delivery. Its clinical programs are based on two platform
technologies: pluripotent cells and cell/drug delivery. The
foundation of BioTime’s core therapeutic technology platform is
pluripotent cells that are capable of becoming any of the cell
types in the human body. The foundation of the Company’s cell
delivery platform is its HyStem® cell and drug delivery matrix
technology. BioTime also has significant equity holdings in two
publicly traded companies, Asterias Biotherapeutics, Inc. and
OncoCyte Corporation, and one private company, AgeX
Therapeutics.
BioTime common stock is traded on the NYSE American 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+.
To receive ongoing BioTime corporate communications, please
click on the following link to join the Company’s email alert list:
http://news.biotimeinc.com.
Forward-Looking Statements
Certain statements contained in this release are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements pertaining to
future financial and/or operating results, future growth in
research, technology, clinical development, and potential
opportunities for BioTime, Inc. 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,
Inc. and its subsidiaries, particularly those mentioned in the
cautionary statements found in more detail in the “Risk Factors”
section of its Annual Reports on Form 10-K and Quarterly Reports on
Form 10-Q filed with the SEC (copies of which may be obtained at
www.sec.gov). Subsequent events and developments may cause these
forward-looking statements to change. BioTime specifically
disclaims any obligation or intention to update or revise these
forward-looking statements as a result of changed events or
circumstances that occur after the date of this release, except as
required by applicable law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170918005427/en/
Investor Contact:BioTimeDavid Nakasone,
510-871-4188DNakasone@biotimeinc.comOrMedia Contact:JQA Partners,
Inc.Jules Abraham, 917-885-7378jabraham@jqapartners.com
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