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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): June 23, 2003.
BioTime, Inc.
| California (State or other jurisdiction of incorporation) |
1-12830 (Commission File Number) |
94-3127919 (IRS Employer Identification No.) |
935 Pardee Street
Berkeley, California 94710
(Address of principal executive offices)
(510) 845-9535
(Registrant’s telephone number, including area code)
| Item 5. Other Events and Regulation FD Disclosure. | ||||||||
| Item 7. Financial Statements and Exhibits | ||||||||
| SIGNATURES | ||||||||
| Exhibit 99.1 | ||||||||
| Exhibit 99.2 | ||||||||
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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-K 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.
Item 5. Other Events and Regulation FD Disclosure.
On June 23, 3003, BioTime Inc.’s co-founder, Chairman and Chief Executive Officer, Paul E. Segall passed away.
Further information is incorporated by reference to Exhibit 99.1 and Exhibit 99.2.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
| Exhibit | ||
| Numbers | Description | |
| 99.1 | Press Release dated June 23, 2003 | |
| 99.2 | Press Release dated June 26, 2003 |
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.
| BIOTIME, INC. | ||||
| Date: June 26, 2003 | By | /s/ Steven A. Seinberg Chief Financial Officer |
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| Exhibit | ||
| Numbers | Description | |
| 99.1 | Press Release dated June 23, 2003 | |
| 99.2 | Press Release dated June 26, 2003 |
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Exhibit 99.1
| BIOTIME, INC. |
935 Pardee Street Berkeley, CA 94710 Tel: 510-845-9535 Fax: 510-845-7914 www.biotimeinc.com |
FOR IMMEDIATE RELEASE
BERKELEY, CA, June 23, 2003 — BioTime, Inc. (AMEX:BTX) regrets to announce that its co-founder, Chairman and Chief Executive Officer, Paul E. Segall passed away suddenly from an aortic aneurysm at age 60. Dr. Segall was a pioneer in the research and development of plasma volume expander solutions, blood replacement products and technologies for use in hypothermic surgery, emergency trauma treatment, and preservation of organs for transplant. Additionally he was instrumental in the development of BioTime’s lead product Hextend®, a physiologically balanced blood plasma volume expander that is widely used in surgery and trauma care in the United States. Hextend® has also been recently introduced in Canada and licensed in South Korea. Dr. Segall’s most recent work, conducted in collaboration with researchers at the University of California at Berkeley, included research into the physiology of aging.
“Dr. Segall’s tireless energy and devotion to the goal of developing new life saving medical products has inspired all who knew him and worked with him,” said Hal Sternberg, Vice President of Research. “We at BioTime will strive to follow his vision and to see the fulfillment of his dreams.”
“We are all saddened by Dr. Segall’s passing. His leadership will be missed, but I know that he has left the Company in the hands of a very capable management team and with a strong portfolio of new surgical and trauma care products for the medical market place. I have every confidence that BioTime’s research program will continue to advance medical technology,” said Dr. Michael D. West, a member of the BioTime board of directors and President and Chief Executive Officer of Advanced Cell Technology, Inc.
“Paul had a great passion for life and for finding ways to extend and improve it,” said Dr. Harold Waitz, Vice President of Regulatory Affairs.
Dr. Segall received his Ph.D. in physiology from the University of California at Berkeley in 1977 and co-founded BioTime in 1990 along with his wife Judith Segall, and Dr. Hal Sternberg and Dr. Harold Waitz.
Exhibit 99.2
| BIOTIME, INC. |
935 Pardee Street Berkeley, CA 94710 Tel: 510-845-9535 Fax: 510-845-7914 www.biotimeinc.com |
FOR IMMEDIATE RELEASE
BERKELEY, CA, June 26, 2003 — BioTime, Inc. (AMEX:BTX) announced the formation of an interim Office of the President to perform the duties of the Chief Executive Officer of the Company until such time as a new CEO is appointed. Dr. Paul Segall, BioTime’s Chairman and Chief Executive Officer, passed away suddenly on June 23, 2003.
The Office of the President will be comprised of three of BioTime’s founding executive officers, Judith Segall, Vice President of Operations and Secretary; Dr. Hal Sternberg, Vice President of Research; and Dr. Harold Waitz, Vice President of Engineering and Regulatory Affairs. Each of these executives had worked closely with Dr. Segall in the management of BioTime’s business from the inception of the Company, including its product development and licensing programs.
BioTime holds a $1 million key man life insurance policy on Dr. Segall and expects to file a claim shortly.
BioTime, headquartered in Berkeley, 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.