SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of
Report (date of earliest event reported): October
23, 2007.
BioTime,
Inc.
(Exact
name of registrant as specified in its charter)
|
California
|
1-12830
|
94-3127919
|
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
6121
Hollis Street
Emeryville,
California 94608
(Address
of principal executive offices)
(510)
350-2940
(Registrant's
telephone number, including area code)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[ ] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Statements
made in this Report that are not historical facts may constitute forward-looking
statements that are subject to risks and uncertainties that could cause actual
results to differ materially from those discussed. Such risks and uncertainties
include but are not limited to those discussed in this report and in BioTime's
Annual Report on Form 10-KSB filed with the Securities and Exchange Commission.
Words such as “expects,” “may,” “will,” “anticipates,” “intends,” “plans,”
“believes,” “seeks,” “estimates,” and similar expressions identify
forward-looking statements.
Section
5 - Corporate Governance and Management
Item
5.02 - Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
The
employment of Jeffrey B. Nickel, Ph.D, Vice President of Business Development
and Marketing, terminated on October 23, 2007. Dr. Nickel may provide
consulting services to BioTime from time to time in the future.
On
October 23, 2007 BioTime announced that Robert W. Peabody, CPA, has joined
BioTime as Senior Vice President and Chief Operating Officer. Mr.
Peabody will oversee the operating departments of BioTime and will head
BioTime’s efforts to obtain research funding grants from private and public
sources, including the California Institute for Regenerative Medicine, to help
finance BioTime’s
entry into the field of regenerative medicine and stem cell research.
Prior
to
joining BioTime, Mr. Peabody served as Vice President-Grant Administration
for
Advanced Cell Technology, Inc and also served on their Board of Directors from
1998 to 2006.
Further
information concerning Mr. Peabody can be found in the press release filed
as
Exhibit 99.1
Section
7 - Regulation FD
Section
7.01 - Regulation FD Disclosure
The
press
release filed as Exhibit 99.1 is incorporated by reference.
Section
9 - Financial Statements and Exhibits
Item
9.01- Financial Statements and Exhibits.
|
Exhibit
Number
|
Description
|
|
|
99.1
|
Press
release dated October 23, 2007
|
2
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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BIOTIME,
INC.
|
|
|
Date: October
23, 2007
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By
/s/
Judith
Segall
|
|
Vice
President & Secretary
|
|
|
Member,
Office of the President
|
|
Exhibit
Number
|
Description
|
|
|
99.1
|
Press
release dated October 23, 2007
|
3
| Exhibit 99.1 | ||
|
BioTime,
Inc.
|
6121
Hollis Street
|
|
|
Emeryville,
CA 94608
|
||
|
Tel:
510-350-2940
|
||
|
Fax:
510-350-2948
|
||
|
www.biotimeinc.com
|
For
Further Information:
Judith
Segall (510) 350-2940
BIOTIME
NAMES ROBERT W. PEABODY SENIOR VICE PRESIDENT
AND
CHIEF OPERATING OFFICER
EMERYVILLE,
CA, October 23, 2007 - BioTime,
Inc. (OTCBB: BTIM) today announced that Robert W. Peabody, CPA, has joined
BioTime as Senior Vice President and Chief Operating Officer. Mr.
Peabody will head BioTime’s efforts to obtain research funding grants from
private and public sources, including the California Institute for Regenerative
Medicine (“CIRM”), to help finance BioTime’s
entry into the field of regenerative medicine and stem cell
research.
Prior
to
joining BioTime, Mr. Peabody served as Vice President-Grant Administration
for
Advanced Cell Technology, Inc (ACT) and also served on their Board of Directors
from 1998 to 2006. Mr. Peabody will oversee the operating departments of BioTime
as well as assist in applying for research grants to finance the research and
development of stem cell and blood volume replacement products.
Mr.
Peabody has extensive experience in biotechnology investing and aiding in the
start ups of such companies as Geron Corporation. Mr. Peabody spent 14 years
as
a Regional Controller for Ecolab, Inc., a Fortune 500 specialty chemical
manufacturer and service company. He also has experience in financial
management, operations and supply chain management, and has been an audit
manager for Ernst and Young where he was on the audit staff serving the firm’s
clients whose shares are publicly traded. Mr. Peabody received a Bachelor Degree
in Business Administration from The University of Michigan and is a Certified
Public Accountant.
CIRM
was
established in early 2005 with the passage of Proposition 71, the California
Stem Cell Research and Cures Initiative. The statewide ballot measure, which
provided $3 billion in funding for stem cell research at California universities
and research institutions, was approved by California voters on November 2,
2004, and called for the establishment of a new state agency to make grants
and
provide loans for stem cell research, research facilities and other vital
research opportunities. CIRM will use bond proceeds to fund basic and applied
biomedical research focused on developing diagnostics and therapies and on
other
vital research opportunities that will lead to life-saving medical treatments.
All proposals are peer-reviewed to support the most promising scientific
research. Research grants are made only to California-based research
institutions
BioTime
also plans to seek up to $5,000,000 of new funding to finance its operations
and
its entry into the stem cell field. BioTime has not yet determined the amount
or
terms of any securities that may be offered in connection with such financing.
Any securities that may be offered have not been registered under the Securities
Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from such registration
requirements.
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 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®
and
PentaLyte®
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.