BioTime Announces Name Change to Lineage Cell Therapeutics
July 31 2019 - 8:00AM
Business Wire
New Identity Reflects Commitment to Becoming
a Leading Cell Therapy Company Company to Trade on NYSE
American Under Ticker “LCTX” at Market Open on August 12,
2019
BioTime, Inc. (NYSE American and TASE: BTX), a clinical-stage
biotechnology company developing novel cell therapies for unmet
medical needs, today announced it is launching a new corporate
brand, including a change of its corporate name to Lineage Cell
Therapeutics, Inc., effective August 12, 2019. In connection
with the launch, the Company's NYSE American ticker symbol will
change to "LCTX" and will be effective at the open of the market on
August 12, 2019. The Company’s former ticker symbol “BTX” will
remain effective through market close as of August 9, 2019. The new
website for Lineage Cell Therapeutics will be
www.lineagecell.com. The Company’s new identity reflects its
commitment to becoming an innovative, leading cell therapy company
and highlights its extensive cell therapy platform.
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the full release here:
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“BioTime has been a pioneering company in the field of cell
therapy, but its assortment of programs and affiliates sometimes
detracted from its core business and made it difficult for key
audiences to fully appreciate its story. During the past three
quarters, a new management team has taken aggressive steps to
streamline the corporate structure, selectively convert diverse
equity holdings into cash, and focus priorities on our three
clinical-stage assets. With a clearer structure and clinical focus
now in place, this was the right time to update our name and invite
stakeholders to rediscover this exciting business,” stated Brian M.
Culley, the Company’s Chief Executive Officer. “Our new brand
defines us within our field: we control the lineage of pluripotent
cells and transplant those differentiated cell types into patients
as therapeutics. The descriptive and unique logo is expressive of
our core technology and refined focus. We look forward to launching
our new brand on August 12th and continuing to build momentum and
awareness of the Company’s mission among the investment, medical
and patient communities.”
The Company also will be relocating its corporate headquarters
to Carlsbad, California, effective August 12, 2019. The move to San
Diego County will provide the Company with proximity to
world-leading academic centers, public and private cell therapy
peers, and is expected to offer more centralized decision-making,
cost-savings, and access to an extensive network of experienced
staff.
About BioTime, Inc.
BioTime is a clinical-stage biotechnology company developing
novel cell therapies for unmet medical needs. BioTime’s programs
are based on its proprietary cell-based therapy platform and
associated development and manufacturing capabilities. With this
platform BioTime develops and manufactures specialized,
terminally-differentiated human cells from its pluripotent and
progenitor cell starting materials. These differentiated cells are
developed either to replace or support cells that are dysfunctional
or absent due to degenerative disease or traumatic injury or
administered as a means of helping the body mount an effective
immune response to cancer. BioTime’s clinical assets include (i)
OpRegen®, a retinal pigment epithelium transplant therapy in Phase
I/IIa development for the treatment of dry age-related macular
degeneration, a leading cause of blindness in the developed world;
(ii) OPC1, an oligodendrocyte progenitor cell therapy in Phase
I/IIa development for the treatment of acute spinal cord injuries;
and (iii) VAC2, an allogeneic cancer immunotherapy of
antigen-presenting dendritic cells currently in Phase I development
for the treatment of non-small cell lung cancer. For more
information, please visit www.biotimeinc.com or follow the Company
on Twitter @BioTimeBTX.
Forward-Looking Statements
BioTime cautions you that all statements, other than statements
of historical facts, contained in this press release, are
forward-looking statements. Forward-looking statements, in some
cases, can be identified by terms such as “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “design,” “intend,” “expect,”
“could,” “plan,” “potential,” “predict,” “seek,” “should,” “would,”
“contemplate,” “project,” “target,” “tend to,” or the negative
version of these words and similar expressions. Such statements
include, but are not limited to, statements relating to the timing
of BioTime’s rebranding and relocation activities. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause BioTime’s actual results, performance or
achievements to be materially different from future results,
performance or achievements expressed or implied by the
forward-looking statements in this press release, including risks
and uncertainties inherent in BioTime’s business and other risks
described in BioTime’s filings with the Securities and Exchange
Commission (SEC). BioTime’s forward-looking statements are based
upon its current expectations and involve assumptions that may
never materialize or may prove to be incorrect. All forward-looking
statements are expressly qualified in their entirety by these
cautionary statements. Further information regarding these and
other risks is included under the heading “Risk Factors” in
BioTime’s periodic reports filed with the SEC, including BioTime’s
Annual Report on Form 10-K filed with the SEC on March 14, 2019 and
its other reports, which are available from the SEC’s website. You
are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date on which they were
made. BioTime undertakes no obligation to update such statements to
reflect events that occur or circumstances that exist after the
date on which they were made, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190731005170/en/
BioTime, Inc. IR Ioana C. Hone ir@biotimeinc.com (510)
871-4188
Solebury Trout IR Gitanjali Jain Ogawa
(Gogawa@troutgroup.com) (646) 378-2949
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