Message #11 From:
Stock News Bot Date: December 14, 2007 07:00:35 AM
BioTime, Inc. Announces the Formation of Embryome Sciences, Inc. for the Development and Commercialization of Stem Cell Technology
BioTime, Inc. (OTCBB:BTIM) today announced that it has organized a new
subsidiary, Embryome Sciences, Inc. The mission of the new company is to
participate in the emerging field of regenerative medicine known as “embryomics”.
“Human embryonic stem cells are capable of
becoming all of the thousands of different cell types in the body,”
said Michael West, Ph.D., Chief Executive Officer. “And
since embryonic stem cells can now be derived in a noncontroversial
manner, they are increasingly likely to be utilized in a wide array of
future therapies to restore the function of organs damaged by
degenerative diseases such as heart failure, stroke, and diabetes. The
future challenge for regenerative medicine is to navigate the complexity
of human development and manufacture purified populations of desired
cell types. EmbryomicsTM represents the merger
of new technologies in the field of genomics with the biology of
embryonic stem cells to provide scientists with a detailed “roadmap”
of the human developmental tree, the factors to push the cells into
desired lineages, and tools to purify the desired cell types.
BioTime believes that the development of products in the embryomics
sector may allow Embryome Sciences to commercialize products more
quickly, using less capital, than developing therapeutic products from
stem cells. Embryome Sciences’ plan is to
market its products and services to companies and academic researchers
in this growing industry to provide them with the tools they need to
attain their goals.
The new BioTime subsidiary plans to launch three kinds of research
products in the next two years. The first product is a commercial
database that will provide the first detailed map of the embryome,
thereby aiding researchers in navigating the complexities of human
development and in identifying the many hundreds of cell types coming
from embryonic stem cells. This map of the human and mouse embryome will
take the form of a relational database that would permit researchers to
chart the cell lineages of human development, the genes expressed in
those cell types, and antigens present on the cell surface of those
cells that can be used in purification. Embryome Sciences plans to
launch this web-based database in January 2008. The new website may also
be used to market stem cell research products developed by Embryome
Sciences and by other companies.
Second, in order to manufacture specific cell types from embryonic stem
cells, researchers need to use factors that induce those cells to become
a desired cell type. Embryome Sciences plans to develop growth and
differentiation factors that can do this, and hopes to launch the first
of these products beginning in 2008.
The third category of near-term embryomics products that Embryome
Sciences will pursue, to be launched beginning in 2009, is a line of
purification tools useful to researchers in quality control of products
for regenerative medicine.
About BioTime, Inc.
BioTime, headquartered in Emeryville, California, develops blood plasma
volume expanders, blood replacement solutions for hypothermic (low
temperature) surgery, organ preservation solutions, and technology for
use in surgery, emergency trauma treatment and other applications.
BioTime’s lead product Hextend is manufactured
and distributed in the U.S. by Hospira, Inc. and in South Korea by CJ
Corp. under exclusive licensing agreements. BioTime has recently entered
the field of regenerative medicine through its wholly owned subsidiary
Embryome Sciences, Inc. where it plans to develop new medical and
research products using embryonic stem cell technology. Information
about BioTime can be found on the web at www.biotimeinc.com.
Hextend®, PentaLyte®,
and HetaCool® are
registered trademarks of BioTime, Inc.
Forward Looking Statements
The matters discussed in this press release include forward-looking
statements which are subject to various risks, uncertainties, and other
factors that could cause actual results to differ materially from the
results anticipated. Such risks and uncertainties include but are not
limited to the success of BioTime in developing new stem cell products
and technologies; results of clinical trials of BioTime products; the
ability of BioTime and its licensees to obtain additional FDA and
foreign regulatory approval to market BioTime products; competition from
products manufactured and sold or being developed by other companies;
the price of and demand for BioTime products, and the ability of BioTime
to raise the capital needed to finance its current and planned
operations. Other factors that could affect BioTime’s
operations and financial condition are discussed in BioTime’s
Annual Report on Form 10-KSB filed with the Securities and Exchange
Commission.
