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): July 7, 2009
BioTime,
Inc.
(Exact
name of registrant as specified in its charter)
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California
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1-12830
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94-3127919
|
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
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(IRS
Employer Identification No.)
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1301
Harbor Bay Parkway
Alameda,
California 94502
(Address
of principal executive offices)
(510)
521-3390
(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 other
reports 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
1 - Registrant’s Business and Operations
Item 1.01- Entry into a Material
Definitive Agreement.
On July
7, 2009, our subsidiary, Embryome Sciences, Inc., entered into an agreement
under which Millipore Corporation will become a worldwide distributor of
ACTCellerate™ human progenitor cell lines. Millipore’s initial
offering of Embryome Sciences’ products will include six novel progenitor cell
lines and optimized ESpanTM
growth media for the in
vitro propagation of each progenitor cell line. The companies
anticipate jointly launching 35 cell lines and associated ESpan™ growth media
within the coming 12 months.
Derived
from human embryonic stem cells but not fully differentiated into specific cell
types, each ACTCellerate™ line provides a convenient, highly purified source of
progenitor cells that may have applications in drug discovery, research, and the
development of therapeutic products.
Millipore
will be Embryome Sciences’ exclusive third party distributor of the products
covered by the agreement, although Embryome Sciences retains the right to sell
the products to its own customers. Embryome Sciences will provide the
products to Millipore on consignment and will be paid on a quarterly basis for
products sold. Embryome Sciences will receive additional annual
payments from Millipore, based on a percentage of annual sales, if annual sales
exceed certain milestone amounts.
The
agreement will have a term of five years, subject to annual renewal if the
parties so elect, and subject to Millipore’s right to terminate the agreement at
any time upon 60 days notice. Either party may also terminate the
agreement in the case of an uncured breach or default by the other
party.
Section
9-Financial Statements and Exhibits
Item
9.01- Financial Statements and Exhibits.
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Exhibit Number
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Description
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99.1
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Press
Release Dated July 9, 2009
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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.
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Date: July
9, 2009
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By
/s/ Steven A.
Seinberg
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Chief
Financial Officer
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3
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Exhibit Number
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Description
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99.1
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Press
Release Dated July 9, 2009
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4
Exhibit
99.1
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BioTime,
Inc.
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1301
Harbor Bay Parkway
|
|
|
Alameda,
CA 94502
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||
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Tel:
510-521-3390
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||
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Fax:
510-521-3389
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||
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www.biotimeinc.com
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BioTime
Announces Stem Cell Co-marketing Agreement with Millipore
Millipore
to distribute BioTime’s Novel ACTCellerate™ Human Progenitor Cells
ALAMEDA, CA, July 9, 2009 – BioTime, Inc. (OTCBB:
BTIM) today announced that Millipore Corporation and BioTime’s subsidiary
Embryome Sciences, Inc., have entered into a co-marketing agreement whereby
Millipore will become a worldwide distributor of ACTCellerate™ human progenitor
cell lines. Derived from human embryonic stem cells but not fully differentiated
into specific cell types, each ACTCellerate™ line provides a convenient, highly
purified source of progenitor cells that may have applications in drug
discovery, research, and the development of therapeutic products.
“The
Millipore team is committed to supplying high quality products to transport the
emerging field of regenerative medicine to an increasing level of
sophistication,” states Donald O’Neil, director of marketing for stem cells and
cell biology at Millipore. “We believe that Embryome Sciences’ novel,
highly-purified, and scalable progenitor lines have potential to be a
significant breakthrough for the industry, and we’re excited to feature them in
our rapidly growing family of novel stem cell lines, media, antibodies,
cultureware, and characterization kits.”
“Many
researchers prefer to work with well-characterized progenitor cells rather than
starting from scratch with embryonic stem cells,” said Michael D. West, Ph.D.,
CEO of BioTime and Embryome Sciences. “The ACTCellerate™ product line gives
scientists a jump-start on their research by providing a reliable, highly
purified source of characterized human progenitor cells from a variety of
lineages. We look forward to working with Millipore’s outstanding marketing team
to make these cell lines widely available to scientists worldwide, allowing them
to more quickly perform the research and development work that may lead to
life-saving therapies.”
Background
The
ACTCellerate™ lines were developed using a novel approach to stem cell
differentiation. Unlike traditional methods that result in low percentages of
progenitor cells, the ACTCellerate™ lines are generated using a two-step
multiplex process that rapidly isolates and purifies progenitor cells from many
different lineages. Each progenitor line is selected for scalability and
robustness, and then characterized by phenotype and gene marker
expression.
Millipore’s
initial offering of Embryome Sciences’ products will include six novel
progenitor cell lines and optimized ESpanTM
growth media for the in
vitro propagation of
BioTime,
Inc.
Page
2 of 3
each
progenitor cell line. Additional cell lines will be introduced frequently, as
Embryome Sciences has already isolated over 140 distinct progenitor cell types.
The companies anticipate jointly launching 35 cell lines and associated
ESpanTM
growth media within the coming 12 months.
About
Millipore
Millipore
is a Life Science leader providing cutting-edge technologies, tools, and
services for bioscience research and biopharmaceutical manufacturing. As a
strategic partner, we collaborate with customers to confront the world’s
challenging human health issues. From research to development to production, our
scientific expertise and innovative solutions help customers tackle their most
complex problems and achieve their goals. Millipore Corporation is an S&P
500 company with more than 5,900 employees worldwide. For more information,
visit www.millipore.com.
Millipore
is a registered trademark and the “M” logo and ADVANCING LIFE SCIENCE TOGETHER
are trademarks of Millipore Corporation.
About
BioTime, Inc.
BioTime,
headquartered in Alameda, California, is a biotechnology company focused on
regenerative medicine and blood plasma volume expanders. The Company develops
and markets research products in the field of stem cells and regenerative
medicine through its wholly owned subsidiary Embryome Sciences, Inc. In addition
to its stem cell products, the Company markets blood plasma volume expanders and
related technology for use in surgery, emergency trauma treatment, and other
applications. BioTime's lead product, Hextend®, is a
blood plasma expander manufactured and distributed in the U.S. by Hospira, Inc.
and in South Korea by CJ CheilJedang Corp. under exclusive licensing agreements.
Additional information about BioTime can be found on the web at
www.biotimeinc.com.
Hextend®,
PentaLyte®,
HetaCool®,
EmbryomicsTM,
ESpyTM,
ReCyteTM, and
ESpanTM, are
trademarks of BioTime, Inc. ACTCellerate™ is a trademark licensed to Embryome
Sciences, Inc. by Advanced Cell Technology, Inc.
Forward-Looking
Statements
Statements
pertaining to future financial and/or operating results, future growth in
research, technology, clinical development and potential opportunities for the
company and its subsidiary, along with other statements about the future
expectations, beliefs, goals, plans, or prospects expressed by management
constitute forward-looking statements. Any statements that are not historical
fact (including, but not limited to statements that contain words such as
“will,” “believes,” “plans,” “anticipates,” “expects,” “estimates,”) should also
be considered to be forward-looking statements. Forward-looking statements
involve risks and uncertainties, including, without limitation, risks inherent
in the development and/or commercialization of potential products, uncertainty
in the results of clinical trials or regulatory approvals, need and ability to
obtain future capital, and maintenance of intellectual property rights. Actual
results may differ materially from the results anticipated in these
forward-looking statements and as such should be evaluated together with
the
BioTime,
Inc.
Page
3 of 3
many
uncertainties that affect the company's business, particularly those mentioned
in the cautionary statements found in the company's Securities and Exchange
Commission filings. The company disclaims any intent or obligation to update
these forward-looking statements.
Millipore
Media Contact:
Greg
Hoff
Media
Relations
Bioscience
Division
+1-978-762-5170
greg_hoff@millipore.com
BioTime
Media Contact
Judith
Segall
BioTime,
Inc.
jsegall@biotimemail.com
510-521-3390,
ext 301
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receive ongoing BioTime corporate communications, please click on the following
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