Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
BioTime, Inc. (NYSE Amex:BTX) today announced that it has acquired substantially all the assets of Cell Targeting, Inc. (CTI), a Cleveland, Ohio-based biotechnology company conducting research in regenerative medicine. The technology acquired from CTI uses peptides selected for their ability to adhere to diseased tissues. By coating or “painting” these peptides onto the surfaces of therapeutic cells using techniques that do not modify the cell physiology, CTI has produced tissue-specific and disease-specific cell modification agents with potential to take cell therapy products to a new level of performance. BioTime issued 261,959 common shares and paid $250,000 in cash to acquire the CTI assets.
The acquired technology includes technology patented by CTI and an exclusive license to use technology invented by Dr. Erkki Ruoslahti’s group at the Sanford-Burnham Medical Research Institute (SBMRI) for use in cell therapy. The phage display peptide technology licensed from SBMRI holds promise for use in directing human cells derived from embryonic stem (hES) and induced pluripotent stem (iPS) cells to sites in the body where they can have therapeutic effect. BioTime will initially provide this technology to its majority owned subsidiary OncoCyte Corporation, for its R&D related to genetically modified hES-derived vascular progenitors designed to target and destroy malignant tumors.
OncoCyte was formed in early 2009 to develop genetically modified stem cells capable of finding malignant tumors while carrying genes that can cause the destruction of the cancer cells. Since then, it has received $4.0 million in equity financing from private investors.
“Our acquisition of the assets of CTI is indicative of our plan to assemble a core of stem cell and related manufacturing technologies capable of enabling our development of a wide array of therapeutic products in the emerging field of regenerative medicine,” said Michael D. West, Ph.D., President and Chief Executive Officer of BioTime, Inc. “We look forward to advancing Dr. Ruoslahti’s technology and welcome Dr. Joseph Wagner to the BioTime team.”
Dr. Joseph Wagner, Cell Targeting’s President and Chief Technology Officer, will become the Chief Executive Officer of OncoCyte. Dr. Wagner served as the Chief Technology Officer and Vice President of Research and Development at Cell Targeting, Inc. for two years. He was responsible for all corporate functions including all R&D, Finance and Corporate Development. Prior to joining CTI, Dr. Wagner held positions of increasing responsibility at Neuronyx, Inc. including Vice President of Cellular Therapy. In that role, he was instrumental in filing the first Investigational New Drug application for an early stage cell therapy company. Dr. Wagner was also an Associate Professor at the Karolinska Institute, where his research focused on molecular and cellular approaches to brain development and regeneration. Dr. Wagner received his Ph.D. in Pharmacology from Duke University.
For more information on OncoCyte, please visit our website at www.oncocyte.com. Further information on Dr. Ruoslahti’s peptide targeting technology is published in the article “Organ targeting In vivo using phage display peptide libraries” Nature 380: 364-366, and additional information is available online at www.sanfordburnham.org/research_and_faculty/faculty_search/ruoslahti_e_md_phd.aspx which discusses the peptide targeting technology covered by the license we acquired from CTI, as well as other related, but unlicensed technologies.
About BioTime, Inc.
BioTime, headquartered in Alameda, California, is a biotechnology company focused on regenerative medicine and blood plasma volume expanders. Its broad platform of stem cell technologies is developed through subsidiaries focused on specific fields of applications. BioTime develops and markets research products in the field of stem cells and regenerative medicine. BioTime's wholly owned subsidiary ES Cell International (ESI) has produced clinical-grade human embryonic stem cell lines that were derived following principles of Good Manufacturing Practice and currently offers them along with a wide array of ACTCellerate™ cell lines, culture media, and differentiation kits for use in research. BioTime's therapeutic product development strategy is pursued through subsidiaries that focus on specific organ systems and related diseases for which there is a high unmet medical need. BioTime's majority owned subsidiary Cell Cure Neurosciences, Ltd. is developing therapeutic products derived from stem cells for the treatment of retinal and neural degenerative diseases. Cell Cure's minority shareholder Teva Pharmaceutical Industries has an option to clinically develop and commercialize Cell Cure's OpRegen™ retinal cell product for use in the treatment of age-related macular degeneration (AMD). BioTime's subsidiary OrthoCyte Corporation is developing therapeutic applications of stem cells to treat orthopedic diseases and injuries. Another subsidiary, OncoCyte Corporation, focuses on the therapeutic applications of stem cell technology in cancer. ReCyte Therapeutics is developing applications of BioTime's proprietary iPS cell technology to reverse the developmental aging of human cells for cardiovascular and blood cell aging. In addition to its stem cell products, BioTime develops blood plasma volume expanders, blood replacement solutions for hypothermic (low temperature) surgery, and technology for use in surgery, emergency trauma treatment and other applications. BioTime's lead product, Hextend®, is a blood plasma volume expander manufactured and distributed in the U.S. by Hospira, Inc. and in South Korea by CJ CheilJedang Corp. under exclusive licensing agreements. Additional information about BioTime, ReCyte Therapeutics, Cell Cure, OrthoCyte, OncoCyte, BioTime Asia, and ESI can be found on the web at www.biotimeinc.com.
Forward-Looking Statements
Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for the company 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 company's business, particularly those mentioned in the cautionary statements found in the company's Securities and Exchange Commission filings. The company 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://www.b2i.us/irpass.asp?BzID=1152&to=ea&s=0
Stock is consolidating and building a base for the next leg up. PM's and commodities getting hit hard and is a likely harbinger of market plunge into last of February. Should provide an opportunity to add to BTX and ISCO.
oh yeah bud 70 will come with easy this stock has the share count that will give us many splits in the future ;o)
Thank you. I think that $70 will prove to be a conservative number.
Bio-techs well may prove to be the next big bull sector.
Just made my first stock purchase of the year. BTX. Will be looking to add shares in the future.
I am considering it too :)
Lot's of great news today!!!
I got in @ $4.00 months ago and I
am enjoying the ride up!!!
new all time high today 70 dollars here we come ;o)
ABSOLUTELY! You are on target.
yes i own its a very solid stock my stem plays are STEM GERN BTX ISCO and ACTC those are the monsters to own imo
And what do you think about it? I am thinking about picking some up.
yes i have been following ISCO since .45 ;o)
Are you following ISCO? This is another form that I am very keen on. It may have a better following here in pennyland too.
BioTime, Inc. (NYSE Amex: BTX) today announced a material transfer agreement (MTA) with the University of California (UC) system to make five research-grade human embryonic stem (hES) cell lines available to UC system researchers. These lines are genetically identical to a bank of GMP-compliant hES cell lines that will be made available to California-based researchers under a recent agreement between BioTime and the California Institute for Regenerative Medicine (CIRM). Institutions covered by the MTA include: University of California, Berkeley (Berkeley Stem Cell Center) , University of California, Davis (UC Davis Institute for Regenerative Cures), University of California, Irvine (Sue and Bill Gross Stem Cell Research Center), University of California, Los Angeles (UCLA Broad Stem Cell Research Center), University of California, Merced (UC Merced Stem Cell Consortium), University of California, Riverside (UC Riverside Stem Cell Center) University of California, San Diego (UCSD Stem Cell Research Program), University of California, San Francisco (The Eli and Edythe Broad Center of Regeneration Medicine and Stem Cell Research at UCSF), University of California, Santa Barbara (Center for Stem Cell Biology & Engineering), University of California, Santa Cruz (Center for Biomolecular Science and Engineering), Lawrence Berkeley National Laboratory, UC Davis Medical Center, UC Irvine Medical Center, UCLA Medical Center, Ronald Reagan UCLA Medical Center, Harbor-UCLA Medical Center, Olive View-UCLA Medical Center, Santa Monica-UCLA Medical Center, UCSD Medical Center, and UCSF Medical Center. Employees of UC-system institutions who are interested in obtaining these cell lines for preclinical research are directed to BioTime’s web site http://www.biotimeinc.com/CIRM2.htm for the relevant MTA containing an Implementing Letter.
This agreement follows a previously announced agreement with CIRM, the stem cell agency created when California voters supported a $3 billion funding measure for stem cell-related research and clinical translation. Through October 21, 2010, CIRM had approved more than 180 grants totaling more than $540,000,000 for projects being conducted in the UC system.
Under BioTime’s agreement with CIRM, BioTime will initially provide research grade cell lines, and within one year, if requested, BioTime will also make available GMP-grade cell lines along with certain documentation and complete genomic DNA sequence information. The use of the GMP grade cell lines may streamline the translation of basic science to human therapies. Should the users of the cell lines and BioTime eventually sign definitive license agreements for commercial use of the cell lines, it is anticipated that BioTime will receive a royalty on net sales. Today’s announced MTA with the University of California System relates to the initial research-grade cell lines and is intended to simplify the distribution of researchers in the UC system.
Background
Human embryonic stem cells are readily expanded cell lines with the potential to generate all human cell types. However, there are many scientific and technological steps that are necessary in order to turn this potential into a reality. In recent years, numerous disease model trials conducted worldwide have shown promising results for hES cell-based therapies. But to develop effective therapies for use in humans that will meet the regulatory standards of the United States Food and Drug Administration (FDA) and other regulators, the cell lines that are used to develop those therapies must comply fully with current Good Manufacturing Practice (cGMP) standards that apply to all drugs and devices. The creation of clinical-grade cell lines is a substantial undertaking.
BioTime's Singapore-based subsidiary ES Cell International Pte Ltd. (ESI) has been at the forefront of advances in hES technology since 2000 and created the first cell bank of clinical-grade hES cell lines derived following cGMP principles (Crook et al, 2007 The Generation of Six Clinical-Grade Human Embryonic Stem Cell Lines Cell Stem Cell 1(5):490-4). These cell lines were created under conditions compliant with international standards of egg procurement and embryo donation. In addition, derivation protocols were used in the derivation of the cell lines that would conform to regulations controlling clinical-grade cell and tissue product development, including compliance with current good tissue and manufacturing practices (cGTPs and cGMPs). BioTime has agreed to make the following cell lines available to CIRM grantees and California-based researchers: ESI-014, ESI-017, ESI-035, ESI-051 and ESI-053 (described in greater detail in the above-mentioned article). Research grade versions of the cell lines will be provided to CIRM grantees and California-based institutions free of charge until April 30, 2011.
The GMP grade versions of these cell lines along with a letter of cross-reference to a biologics master file containing manufacturing, controls information, additional documentation needed to establish GMP compliance, and the complete genomic DNA sequence information of the cell lines will be available from BioTime, at the cost of producing and supplying the cell lines, to CIRM grantees and California-based institutions, by November 22, 2011. Upon signing commercialization agreements acceptable to BioTime, BioTime will receive a royalty on net sales pre-negotiated by CIRM and BioTime such that no royalty will be owed to BioTime for research use. For commercial use, a maximum 2.0 percent royalty on net sales (1.5 percent if other royalties would be owed by the CIRM Grantee/California researcher) will be paid to BioTime. In addition, the form of a material transfer agreement has been agreed to by CIRM and BioTime for research use by California-based researchers other than those in the UC system. The pre-negotiation of terms will serve to help accelerate research by eliminating protracted negotiations. UC system researchers are covered by the system-wide MTA described above.
A sixth cell line designated ESI-049 is currently being evaluated by a large pharmaceutical company for exclusive use and was therefore not included in the collaborative agreement with CIRM. BioTime will retain the rights to manufacture its own research and therapeutic products from the cell lines. Additional information on the agreement is available on BioTime’s website at www.biotimeinc.com.
About BioTime, Inc.
BioTime, headquartered in Alameda, California, is a biotechnology company focused on regenerative medicine and blood plasma volume expanders. Its broad platform of stem cell technologies is developed through subsidiaries focused on specific fields of applications. BioTime develops and markets research products in the field of stem cells and regenerative medicine through its wholly owned subsidiary Embryome Sciences, Inc. BioTime’s therapeutic product development strategy is pursued through subsidiaries that focus on specific organ systems and related diseases for which there is a high unmet medical need. BioTime’s majority owned subsidiary Cell Cure Neurosciences, Ltd. is developing therapeutic products derived from stem cells for the treatment of retinal and neural degenerative diseases. Cell Cure's minority shareholder Teva Pharmaceutical Industries has an option to clinically develop and commercialize Cell Cure’s OpRegen™ retinal cell product for use in the treatment of age-related macular degeneration (AMD). BioTime's subsidiary OrthoCyte Corporation is developing therapeutic applications of stem cells to treat orthopedic diseases and injuries. Another subsidiary, OncoCyte Corporation, focuses on the therapeutic applications of stem cell technology in cancer. BioTime’s Singapore subsidiary, ES Cell International Pte Ltd, has been at the forefront of advances in human embryonic stem (“hES”) cell technology, having been one of the earliest distributors of hES cell lines to the research community. ESI has produced clinical-grade human embryonic stem cell lines that were derived following principles of Good Manufacturing Practice and currently offers them for potential use in therapeutic product development. In addition to its stem cell products, BioTime develops blood plasma volume expanders, blood replacement solutions for hypothermic (low temperature) surgery, and technology for use in surgery, emergency trauma treatment and other applications. BioTime’s lead product, Hextend®, is a blood plasma volume expander manufactured and distributed in the U.S. by Hospira, Inc. and in South Korea by CJ CheilJedang Corp. under exclusive licensing agreements. Additional information about BioTime, Embryome Sciences, Cell Cure, OrthoCyte, OncoCyte, BioTime Asia, and ESI can be found on the web at www.biotimeinc.com.
Forward-Looking Statements
Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for the company 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 company’s business, particularly those mentioned in the cautionary statements found in the company’s Securities and Exchange Commission filings. The company 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://www.b2i.us/irpass.asp?BzID=1152&to=ea&s=0
agreed bud but with any positive results from our buddies ACTC and GERN and 50 dollars will be cheap ;o)
I fully expect this stock to be at $50.00 by Valentines day. This thing is JUST beginning. I am in it a bit higher than I wanted but it is no doubt a solid stock from here out.
lol BTX is the real deal bud
lol bud go ahead i'll stay here and wait it out. by the way i have been in BTX since BTIM got in at 1.40 and still holding the same 45,000 shares and not selling any until 100+ comes.
ur are right pumpass. it's over. downwards from here. 12/15 came and went. Lot of hype, no results. A real company is mapp
This technology has the potential to signigicantly extend the lifespan of those that can afford the treatments. What I like is the fact that they are pure research, thus avoid the hangups of the FDA. They then sell their solutions and technology to big pharma and let them hassle with the FDA.
I first learned of BioTime when they licensed the ACTCellerate Technology from ACTC around August 12, 2008. Its to bad I didnt know about Dr. Michael West at the time because I would of loved to pick up shares at around .50 per share. I then, some time later, read about Dr. West and Biotime and purchased shares @ 2.50 each. When it hit about $6 I sold half and held my free shares for a long time until closing the position yesterday @ 7.45 per share. My theory on stem cell investing is that I want to own shares of anything Robert Lanza, M.D., Dr. Hans Kierstead and Dr. Michael West are involved in. These guys are the big players, good times are ahead and I am along for the ride. I only sold BTX because it was pure profit and I wanted to buy more GERN, but I will be buying back into BTX as soon as I can dump more cash in the Roth. I would be interested if anyone knows any other big players or other companies I can research, but for now ACTC, BTX & GERN are my stem cell plays.
I sense great potential here LB. A bit pricey and not likely to attract the IH crowd on this board so we might not stir up too much discussion. Would be interested in your thoughts on the potential here.
Bart
This thing is moving nice today, any thoughts?
Followers
|
2
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
79
|
Created
|
11/11/10
|
Type
|
Free
|
Moderators |
|
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |