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): April 3, 2008.
BioTime,
Inc.
(Exact
name of registrant as specified in its charter)
|
California
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1-12830
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94-3127919
|
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
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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
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
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Exhibit
Number
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Description
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|
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99.1
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Press
Release dated April 3, 2008
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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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|
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Date: April
3, 2008
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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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|
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99.1
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Press
Release dated April 3, 2008
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4
Exhibit
99.1
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BioTime,
Inc.
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6121
Hollis Street
|
|
|
Emeryville,
CA 94608
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||
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Tel:
510-350-2940
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||
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Fax:
510-350-2948
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||
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www.biotimeinc.com
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For
Further Information:
Judith
Segall (510) 350-2940
BioTime,
Inc. Signs Letter of Intent with International Stem Cell Corporation
for
Joint
Production and Distribution of Stem Cell
Products
EMERYVILLE, CA, April 03, 2008 –
BioTime, Inc. (OTCBB: BTIM) and its wholly-owned subsidiary Embryome
Sciences, Inc., have signed a letter of intent with International Stem Cell
Corporation (OTCBB: ISCO) and its wholly-owned subsidiary Lifeline Cell
Technology (Lifeline) to jointly produce and distribute a wide array of research
products from human embryonic stem cell technology.
Human
embryonic stem (hES) cells are powerful in that they possess the potential to
become all of the thousands of cell types in the human body. The industry
surrounding this emerging field of science is called “regenerative medicine.”
Embryome Sciences and Lifeline intend to jointly manufacture products serving
the complex needs of this industry, including cells and related products that
will allow researchers to identify and study the thousands of cell types that
can be made from hES cells.
“While
many have focused on the therapeutic opportunities of hES cells, and the
generous $3 billion of funding provided by the State of California to fund this
research, it is important to remember that the people who really profited from
the California gold rush of the 19th century
were the makers and suppliers of the tools,” said Michael D. West, Ph.D., CEO of
BioTime and Embryome Sciences. “While not ruling out entering the therapeutics
race at some point, we believe that the greatest rate of return on investment
may be in commercializing research products that can be produced and marketed
within one to two years. We intend to win the race to profitability in this
important field of medicine.”
“There is
a considerable opportunity in manufacturing high quality progenitor cell lines
for use in research and drug discovery. Lifeline’s and Embryome
Sciences’ combined strengths and technologies will give scientists access to the
basic research tools they will need to take the field of regenerative medicine
to the next level,” said Jeffrey Janus, CEO of Lifeline and a founding member of
Clonetics Corporation, adding, “Dr. West is a leader in the emerging field of
“embryomics” which is the science of characterizing all of the complex cell
types that can be derived from hES cells. Dr. West’s expertise, along with
Lifeline’s experience in manufacturing and standardizing human cells and
reagents and Lifeline’s ability to generate normal or engineered progenitor cell
lines, makes what we think is a spectacular opportunity to become a leading
manufacturer of research products in this emerging field.”
Under a
collaborative production and manufacturing agreement, the parties intend to
manufacture ESpyTM cell
lines (complex derivatives of hES cells that send beacons of light in response
to the activation of particular genes), as well as a host of supplies scientists
will utilize in the field of stem cell research. The progenitor cell lines will
be produced and distributed in joint efforts utilizing Embryome Science’s
proprietary “Embryomics™” technology, its future Embryome.com
online
database,
and technology and approved hES cell lines licensed from the Wisconsin Alumni
Research Foundation (WARF). Lifeline will contribute its
manufacturing and quality control expertise backed by a staff with over 150
years of experience in the field, its facilities, and Lifeline’s
technologies.
The
proposed collaboration among Lifeline, BioTime, and Embryome Sciences is subject
to the execution of a definitive agreement.
About
International Stem Cell Corporation:
International
Stem Cell Corporation (ISCO) is a California biotechnology company focused on
developing therapeutic and research products. ISCO’s technology, Parthenogenesis, results in
the creation of pluripotent human stem cell lines from unfertilized human
eggs. ISCO scientists also have created the first Parthenogenetic homozygous stem cell line
(phSC-Hhom-4)
that can be a source of therapeutic cells that will not be immune rejected after
transplantation into millions of individuals of differing sexes, ages and racial
groups. These advancements offer the potential to create the first true “Stem
Cell Bank” and address ethical issues by eliminating the need to use or destroy
fertilized embryos. ISCO also produces and markets specialized cells and growth
media worldwide for therapeutic research through its subsidiary Lifeline Cell
Technology. For more information, visit the ISCO website at: www.internationalstemcell.com
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
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
many uncertainties that affect the company's business, particularly those
mentioned in the cautionary statements found in BioTime's Securities and
Exchange Commission filings. BioTime disclaims any intent or
obligation to update these forward-looking
statements.