Message #10 From:
Stock News Bot Date: December 7, 2006 05:00:00 AM
BTIM News BioTime Announces a Phase II Clinical Trial of Hextend(R) in Japan
EMERYVILLE, Calif.--(BUSINESS WIRE)--BioTime, Inc. (OTCBB:BTIM) announced today that a Phase II clinical
trial for Hextend® is being conducted in Japan
by Summit Pharmaceuticals International Corporation under their license
agreement with BioTime. Summit is co-developing Hextend for the Japanese
market with Maruishi Pharmaceutical Co., Ltd. and both Maruishi and
Summit have the right to co-market Hextend if regulatory approval is
obtained. Summit expects Phase III clinical studies to commence in 2008.
Hextend has been formulated to restore and maintain plasma volume longer
than the plasma volume expanders currently marketed in Japan. Summit
estimates that there are on average at least 1 million surgery cases per
year in Japan that involve the use of plasma volume expanders.
Hextend is a physiologically balanced blood plasma volume expander, for
the treatment of hypovolemia. Hextend is being distributed in the United
States and Canada by Hospira, Inc. and in South Korea by CJ Corp. under
exclusive licenses from BioTime. Hospira also has the right to obtain
regulatory approval and market Hextend in Latin America and Australia.
Summit has a license to develop Hextend in Japan, the People’s
Republic of China, and Taiwan.
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.
Information about BioTime can be found on the web at www.biotimeinc.com.
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 results of clinical trials of Hextend®,
the ability of Summit and Maruishi to obtain regulatory approval to
market Hextend® in
Japan; competition from products manufactured and sold or being
developed by other companies; the price of and demand for Hextend®;
and the availability of reimbursement for the cost of Hextend®
and related treatment from government health administration authorities,
private health coverage insurers and other organizations. These and
other risk factors are discussed in BioTime’s
Annual Report on Form 10-K filed with the Securities and Exchange
Commission.
