BioTime, Inc. (NYSE MKT: BTX) today announced that Franklin M. Berger,
CFA, 63, has been appointed to its Board of Directors.
“We are pleased to welcome a recognized biotechnology industry expert of
Franklin's caliber to BioTime's Board,” said Alfred D. Kingsley,
Chairman of the Board of BioTime. “Franklin adds to our Board a great
deal of experience as a director of biotechnology companies, as an
advisor to biopharma, and as a recognized leader in the analysis and
financing of biotechnology companies. His deep understanding of the
scientific, technological, business, and financial aspects of the
biotechnology sector, coupled with his extensive analytical, financial,
and board experience, will be valuable additions to our Board during an
exciting period of growth for BioTime.”
“BioTime's development and acquisition of novel technologies in the stem
cell space over the last few years has established it as a leader in
regenerative medicine,” said Mr. Berger. “Regenerative medicine has the
potential to be the next major step forward in biotechnology, and may
lead to significant improvements in the health and quality of life of
patients around the world. I am honored to join the BioTime Board of
Directors as the company moves toward the expansion of its technology
platform and its entry into clinical trials, and look forward to
contributing to the development of these new technologies.”
Mr. Berger currently serves as a director of several biotechnology
companies both public and private, and as a consultant to major
biopharmaceutical firms, mid-capitalization biotechnology companies,
specialist asset managers and venture capital firms. In addition to his
board roles, he routinely advises companies regarding business
development, strategic advisory/financings, partnering, and royalty
acquisition. In October 2011, Mr. Berger accepted the position of Senior
Advisor to PDL BioPharma, Inc., a premier biotech royalty company. He
currently serves on the boards of three public biotechnology companies,
Seattle Genetics, Thallion Pharmaceuticals, and Bellus Health, Inc. He
also serves on the board of Five Prime Therapeutics, Inc., a private
biotech company, and he has previously served on the boards of several
other public and private biotechnology companies. Mr. Berger’s
distinguished career in the investment industry included roles in
investment management and over twelve years as a leading equity research
analyst covering biotechnology companies, most recently as Managing
Director, U.S. Equity Research, at J.P. Morgan Securities, Inc. from
1998 to 2003. During the course of his career, Mr. Berger was involved
with the issuance of over $12 billion in biotechnology company equity or
equity-linked securities, including Roche’s Genentech initial public
offering in 1999, the largest biotechnology financing to date. Mr.
Berger received his BA and MA degrees from Johns Hopkins University in
1971 and 1972, respectively, and received his MBA degree from Harvard
University in 1975.
Also, Arnold I. Burns, 83, retired from BioTime’s Board of Directors.
Mr. Burns notified the BioTime Board that due to health concerns, he
could no longer continue to productively serve as a director. “Arnie’s
advice and counsel will be sorely missed by our Board,” said Mr.
Kingsley. “We look forward to consulting with Arnie from time to time in
the future, and wish him well as he focuses on other matters.”
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 enhanced
through subsidiaries focused on specific fields of application. BioTime
develops and markets research products in the fields of stem cells and
regenerative medicine, including a wide array of proprietary PureStem™
cell lines, HyStem® hydrogels, culture media, and
differentiation kits. BioTime is developing Renevia™ (formerly
known as HyStem®-Rx), a biocompatible,
implantable hyaluronan and collagen-based matrix for cell delivery in
human clinical applications. 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. 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 diagnostic and
therapeutic applications of stem cell technology in cancer, including
the diagnostic product PanC-Dx™ currently being developed for the
detection of cancer in blood samples. ReCyte Therapeutics, Inc. is
developing applications of BioTime's proprietary induced pluripotent
stem cell technology to reverse the developmental aging of human cells
to treat cardiovascular and blood cell diseases. BioTime's subsidiary
LifeMap Sciences, Inc. markets GeneCards®, the leading
human gene database, as part of an integrated database suite that also
includes the LifeMap Discovery™ database of embryonic
development, stem cell research and regenerative medicine, and MalaCards,
the human disease database. LifeMap Sciences also markets BioTime
research products and PanDaTox, an innovative, recently
developed, searchable database that can aid in the discovery of new
antibiotics and biotechnologically beneficial products. Asterias
Biotherapeutics, Inc. is a new subsidiary being used to acquire the stem
cell assets of Geron Corporation, including patents and other
intellectual property, biological materials, reagents and equipment for
the development of new therapeutic products for regenerative medicine.
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 Corporation under exclusive
licensing agreements. Additional information about BioTime 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 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.
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following link to join our email alert list: http://phx.corporate-ir.net/phoenix.zhtml?c=83805&p=irol-alerts.
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