Message #13 From:
NewsBot Date: April 16, 2008 08:47:23 AM
BioTime Opens New GMP Laboratory for Production of Embryonic Stem Cell Technology Products
BioTime Opens New GMP Laboratory for Production of Embryonic Stem Cell Technology Products
BioTime, Inc. (OTCBB:BTIM) announced today that it has opened an 11,000
square foot equipped and operational tissue culture facility in Alameda,
California. The facility is Good Manufacturing Practice (GMP) capable
and has previously been certified as Class 1000 and Class 10,000
laboratory space, and includes cell culture and manufacturing equipment
previously validated for use in GMP manufacture of cell based products.
BioTime plans to move its headquarters from its current location in
Emeryville, California, to this new lab and office space at 1301 Harbor
Bay Parkway in Alameda, California.
BioTime’s subsidiary, Embryome Sciences, Inc.,
will use the facility for the production and marketing of embryonic
progenitor cells, progenitor cell lines, and products derived from those
embryonic progenitor cell lines. The products developed in the new
facility will be produced and sold for research purposes, such as drug
discovery and drug development. Embryome Sciences plans to sell the
products to researchers at universities and other institutions, to
companies in the bioscience and biopharmaceutical industries, and to
companies that provide research products to companies in those
industries.
Dr. Michael West, BioTime’s Chief Executive
Officer, commented, “The acquisition of the
GMP manufacturing facility and related equipment in our new Alameda
facility will help us take the lead in the validated scale up and
manufacture of cells that will be used in our research products
business. BioTime will continue its work developing new blood plasma
volume expander solutions at the new research facility as well. BioTime’s
lead plasma volume expander, Hextend®,
is manufactured in the United States by Hospira, Inc. and in South Korea
by CJ Corp. under license from us.”
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., through which it plans to develop new medical
and research products using embryonic stem cell technology. Additional
information about BioTime can be found on the web at www.biotimeinc.com.
Hextend®, PentaLyte®,
HetaCool®, EmbryomicsTM,
ESpyTM, and EScalateTM
are 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.
