Lineage Cell Therapeutics

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BioTime, Inc.
Company typePublic
AMEX: BTX TASE: BTX
IndustryBiotechnology, regenerative medicine
Founded1990
HeadquartersAlameda, California
Key people
Michael West, PhD
(CEO) Angus Russell (Director; former CEO of Shire Plc)
Websitewww.biotimeinc.com

BioTime, Inc. is a clinical-stage biotechnology company in the field of regenerative medicine headquartered in Alameda, California.[1] BioTime stock is traded on the New York Stock Exchange Market Exchange, ticker symbol BTX. BioTime focuses primarily on two areas: stem cell technology and products for use in regenerative medicine, focusing on areas such as oncology, orthopedics, blood diseases, and blood plasma volume expanders for use in surgery and treatment of traumatic injuries.[1]

BioTime’s products currently on the market include Hextend, a blood plasma volume expander which is manufactured and distributed by Hospira (NYSE: HSP)[2] and research reagents. Hospira was acquired by Pfizer in February 2015.

The company is in a pivitol clinical trial for age-related macular degeneration (AMD).[3] On November 3, 2014 BioTime's subsidiary Cell Cure Neurosciences received FDA authorization to initiate a phase I/IIa trial of OpRegen, an embryonic stem cell-derived treatment for the dry-AMD.[4]

History

BioTime was founded in 1990 in Berkeley, California.[5] The company initially focused on developing processes to cool living bodies, and related projects.[1]

In 2007, the company appointed Michael D. West, Ph.D, as chief executive officer. West had been CSO and CEO of Advanced Cell Technology (and prior to that had founded Geron (Nasdaq: GERN), for which he secured venture capital investment from Kleiner Perkins Caufield & Byers and Venrock.[6][7]

Also in 2009, BioTime secured $4.72 million in grant funding from the California Institute for Regenerative Medicine (CIRM) to expand its "ACTCellerate" program, which it had acquired the previous year from Advanced Cell Technology[8] for $250,000 plus royalties.[9]

In October 2010, BioTime entered a license agreement with Teva (NYSE: TEVA) to develop and market BioTime's OpRegen for the treatment of age-related macular degeneration,[10] an effort that in 2013 received $1.5 million in funding from Israel's Office of the Chief Scientist.[11]

In 2013, BioTime acquired the stem-cell assets of Geron Corporation, with the aim of restarting its embryonic stem cell-based clinical trial for spinal cord injury.[12]

Subsidiaries

BioTime has a number of subsidiaries, including:

  • Asterias Biotherapeutics, which is re-initiating Geron's stem cell trial for spinal cord injury using the stem cell assets acquired from Geron in 2013. The CEO of this subsidiary is Pedro Lichtinger, former CEO of Optimer Pharmaceuticals, which along with Trius Therapeutics was acquired by Cubist Pharmaceuticals for $1.6 billion in July 2013.[13][14] Asterias Biotherapeutics stock is traded on the New York Stock Exchange market exchange (AMEX: AST).
  • Cell Cure Neurosciences. Based in Israel, Cell Cure Neurosciences is developing stem cell-based therapies for the treatment of retinal and neural degenerative diseases. In November 2014, the company received FDA clearance to start a 15-patient Phase 1/2a human clinical trial using human embryonic stem cell-derived retinal pigment epithelial cells to treat age-related macular degeneration (AMD).[15]
  • LifeMap Solutions. In partnership with the Icahn School of Medicine at Mount Sinai, LifeMap solutions is developing and launching (mHealth) mobile apps. LifeMap Solutions and the Icahn School were one of the first five groups designated by Apple Inc to develop an app for Apple’s ResearchKit for iPhone, announced by Apple on March 9, 2015.[16][17]
  • OncoCyte, which is developing products for the diagnosis and treatment of cancer.[18][19]
  • OrthoCyte, which is developing cellular therapies designed to reverse spinal damage.[20][21]
  • ESI BIO, which provides stem cell tools to the research community. ESI BIO was formerly known as ES Cell International, which BioTime acquired in April 2010. Established in Singapore in 2010, ES Cell International was the first group to make embryonic stem cell lines suitable for clinical trials available to researchers.[22][23]

Board of Directors

BioTime’s Board of Directors includes:

  • Neal Bradsher. A chartered financial analyst (CFA), Bradsher is founder and president of Broadwood Capital.[24] He was a board member of Questcor Pharmaceuticals until it was acquired by acquired by Mallinckrodt Pharmaceutics for $5.6 Billion in August 2014.[25][26]
  • Stephen C. Farrell, CEO of Convey Health Solutions, and a former director of chairman of the audit committee of Questcor Pharmaceuticals,[25] which was acquired by Mallinckrodt Pharmaceutics for $5.6 Billion in August 2014.[26] Farrell formerly served as president of PolyMedica Corp., until it was acquired for $1.5 Billion in 2007 by Medco Health Solutions, the largest pharmacy benefit manager in the U.S.[27]
  • Alfred Kingsley, chairman of the board. He is general partner of Greenway Partners LP[24] and was formerly a senior advisor to billionaire investor Carl Icahn from 1968 to 1992.[28]
  • Michael H. Mulroy, a business consultant. He formerly served as executive vice president of Mallinckrodt plc following its acquisition of Questcor Pharmaceuticals in August 2014. Mulroy held a variety of positions at Questcor including General Counsel and Chief Financial Officer.[25]
  • Angus Russell, the retired Chief Executive Officer of Shire plc, a multinational specialty biopharmaceutical manufacturing company[29]
  • Michael D. West, BioTime’s CEO

See also

References

  1. ^ a b c "CrunchBase Profile".
  2. ^ "The Doctor Will Freeze You Now". Scimitar Equity Blog. February 5, 2010.
  3. ^ "Insiders are Buying BioTime, Should You?". SeekingAlpha. August 23, 2013.
  4. ^ http://www.businesswire.com/news/home/20141103005365/en/BioTime%E2%80%99s-Subsidiary-Cell-Cure-Neurosciences-Receives-FDA#.VFf90fTF_BE
  5. ^ "The Doctor Will Freeze You Now". Wired. May 2004.
  6. ^ "SEC Schedule 13G, filed Feb. 17, 1999".
  7. ^ "Bloomberg Link speaker profile".
  8. ^ "CIRM Doles Out $67M in Early Translational Grants". Genetic Engineering News. April 30, 2009.
  9. ^ "Press Release: ACTCellerate Technology Licensed to BioTime, Inc by Advanced Cell Technology".
  10. ^ "Cell Cure Neurosciences Ltd., a Subsidiary of BioTime, Inc. and Hadasit Bio Holdings Ltd., Enters into an Exclusive License Option Agreement with Teva Pharmaceutical Industries Ltd".
  11. ^ "BioTime's Subsidiary Cell Cure Neurosciences Ltd. Awarded $1.5 Million Grant from Israel's Office of the Chief Scientist".
  12. ^ "BioTime acquires stem cell assets from Geron, raises $10 million". San Francisco Business Times. January 7, 2013.
  13. ^ "Cubist to pay up to $1.6 billion for two antibiotics makers". Reuters. July 30, 2013.
  14. ^ "Stem cell industry's 'huge development' in Bay Area". SF Gate. August 29, 2014.
  15. ^ "FDA clears BioTime's IND for AMD stem cell therapeutic candidate". SeekingAlpha. November 3, 2014.
  16. ^ "Apple Introduces ResearchKit, Giving Medical Researchers the Tools to Revolutionize Medical Studies".
  17. ^ "ResearchKit partner: Apple is doing something incredible that was 'simply not possible in the previous 2000 years of medicine'". Business Insider. March 10, 2015.
  18. ^ "American Association for Cancer Research Annual Meeting 2015".
  19. ^ "OncoCyte rolls out massive trial for bladder cancer Dx". FierceDiagnostics. July 31, 2014.
  20. ^ "OrthoCyte Corporation".
  21. ^ "BioTime to merge Glycosan with OrthoCyte". News Medical. February 14, 2011.
  22. ^ "BioTime to merge Glycosan with OrthoCyte". Genetic Engineering News. April 30, 2010.
  23. ^ "BioTime to merge Glycosan with OrthoCyte". Genetic Engineering News. April 30, 2010.
  24. ^ a b "People on the Move: Biotech/Health care". San Francisco Business Times. July 7, 2009.
  25. ^ a b c "BioTime, Inc.: Following the Smart Money". Seeking Alpha. January 26, 2015.
  26. ^ a b Armstrong, Drew; Serafino, Phil (7 April 2014). "Mallinckrodt Agrees to Buy Questcor for $5.6 Billion". Bloomberg. Retrieved 10 January 2015.
  27. ^ "SEC Filing from Questcor Pharmaceutics, Inc., Exhibit 99.1".
  28. ^ "How Carl Icahn became a corporate raider". Investment News. December 7, 2014.
  29. ^ "Shire's Angus Russell will retire from CEO post in 2013". FierceBiotech. October 26, 2012.

External links

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