BioTime, Inc. (NYSE MKT: BTX), a biotechnology company that develops and
markets products in the field of regenerative medicine, today announced
the signing of an exclusive sublicense agreement with Jade Therapeutics,
Inc., a Salt Lake City-based developer of ophthalmic sustained-release
drug delivery platforms. This new agreement supersedes the previously
announced sublicense and supply agreements and expands the licensed
“Field of Use” to include certain additional uses, such as the use of
BioTime’s HyStem® hydrogel technology for the
delivery of all potential therapeutic molecules to the human eye.
Excluded from the licensed Field of Use is the use of the HyStem®
technology for the delivery of cells with or without any molecules
necessary for the therapeutic benefit of those cells, for use in making
punctal plugs, for diagnostic and research reagents, and for non-human
applications. Jade’s lead products in pre-clinical development utilize
the licensed hydrogel technology to facilitate time-release, topical
delivery of recombinant human growth hormone to help heal lesions on the
ocular surface, as well as enable local delivery of antibiotics to treat
ocular infections. Financial terms of the transaction were not disclosed.
William P. Tew, Ph.D., BioTime’s Chief Commercial Officer, stated that
“We are pleased to have expanded our relationship with Jade Therapeutics
and look forward to their efforts to develop novel ophthalmic drug
delivery applications for our HyStem® hydrogel
platform.”
Said Jade CEO Arthur Klausner, “We have evaluated a variety of potential
polymer-based drug delivery systems, and we believe that HyStem®
hydrogels provide an excellent combination of the required physical
properties to enable broad ocular use. We will also benefit
significantly from the extensive pre-clinical work that BioTime has
performed on its hydrogels outside the field of ophthalmology.”
“Our HyStem® technology has potential utility
in a wide array of human therapeutic products,” said Michael West,
Ph.D., BioTime’s CEO. “Following up on the Jade agreement, we intend to
seek additional industry partners for applications that are not core to
our own therapeutic product development.”
BioTime's HyStem® hydrogels are proprietary
biocompatible hydrogels that can be used to deliver localized doses of
small molecules, proteins or cells. HyStem®
hydrogels also can mimic the human extracellular matrix, a web of
molecules surrounding cells that is essential to cellular growth.
BioTime's HyStem® hydrogels are currently being
used by researchers at a number of leading medical schools in studies of
stem cell therapies for facilitating wound healing and for the treatment
of ischemic stroke, brain cancer, vocal fold scarring, and cardiac
infarct.
About Jade Therapeutics, Inc.
Jade Therapeutics, founded by Drs. Barbara Wirostko and MaryJane Rafii,
is a privately held company headquartered in Salt Lake City, Utah, that
develops locally administered, sustained-release formulations of
(mostly) already-approved drugs for use in poorly served ophthalmic
indications. This approach could enable improved therapeutic outcomes
along with increased patient compliance to therapy, decreased frequency
of administration and office visits, and avoidance of subsequent
surgeries – ultimately resulting in better visual function with enhanced
quality of life. Jade believes that its use of proprietary
administration formulations of drugs that have already received
regulatory approval may significantly decrease development risks and
shorten the clinical trial and regulatory approval process. Jade’s
initial focus is on a novel, bioresorbable ocular product that elutes
recombinant human growth hormone over a period of approximately a week
to help address persistent corneal epithelial defects. Jade is also
developing a topically applied, sustained-release antibiotic product
utilizing funding from a recently awarded National Science Foundation
SBIR grant. Additional information about Jade can be obtained at www.jadetherapeutics.com.
About BioTime, Inc.
BioTime is a biotechnology company engaged in research and product
development in the field of regenerative medicine. Regenerative medicine
refers to therapies based on stem cell technology that are designed to
rebuild cell and tissue function lost due to degenerative disease or
injury. BioTime’s focus is on pluripotent stem cell technology based on
human embryonic stem (“hES”) cells and induced pluripotent stem (“iPS”)
cells. hES and iPS cells provide a means of manufacturing every cell
type in the human body and therefore show considerable promise for the
development of a number of new therapeutic products. BioTime’s
therapeutic and research products include a wide array of proprietary PureStem™
progenitors, HyStem® hydrogels, culture media, and
differentiation kits. BioTime is developing Renevia™ (a HyStem®
product) as a biocompatible, implantable hyaluronan and collagen-based
matrix for cell delivery in human clinical applications. In addition,
BioTime has developed Hextend®, a blood plasma volume
expander for use in surgery, emergency trauma treatment and other
applications. Hextend® is manufactured and distributed in the
U.S. by Hospira, Inc. and in South Korea by CJ CheilJedang Corporation
under exclusive licensing agreements.
BioTime is also developing stem cell and other products for research,
therapeutic, and diagnostic use through its subsidiaries:
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OncoCyte Corporation is developing products and technologies to
diagnose and treat cancer.
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ES Cell International Pte Ltd., a Singapore private limited company,
develops hES products for research use.
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OrthoCyte Corporation is developing therapies to treat orthopedic
disorders, diseases and injuries.
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ReCyte Therapeutics, Inc. is developing therapies to treat a variety
of blood and lymphatic vascular disorders, as well as products for
research using iPS and other cell reprogramming technology.
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Cell Cure Neurosciences Ltd. is an Israel-based biotechnology company
focused on developing stem cell-based therapies for retinal and
neurological degenerative diseases. Its lead product is OpRegen®
for the treatment of macular degeneration.
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LifeMap Sciences, Inc. markets, sells and distributes GeneCards®,
the leading human gene database, 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.
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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.
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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Copyright Business Wire 2013