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    BioTime Announces $2.2 Million Grant for Further Development of Dry-AMD Program

    Investing News Network
    Jun. 10, 2016 08:08AM PST
    Biotech Investing

    ALAMEDA, Calif. & JERUSALEM–(BUSINESS WIRE)–BioTime, Inc. (NYSE MKT and TASE: BTX), a clinical-stage regenerative medicine company with a focus on pluripotent stem cell technology, and its subsidiary Cell Cure Neurosciences Ltd. (“Cell Cure”) today announced that Cell Cure has been awarded a new grant for 2016 of 8.4 million shekels (approximately $2.2 million) from the …

    ALAMEDA, Calif. & JERUSALEM–(BUSINESS WIRE)–BioTime, Inc. (NYSE MKT and TASE: BTX), a clinical-stage regenerative
    medicine company with a focus on pluripotent stem cell technology, and
    its subsidiary Cell Cure Neurosciences Ltd. (“Cell Cure”) today
    announced that Cell Cure has been awarded a new grant for 2016 of 8.4
    million shekels (approximately $2.2 million) from the Israel Innovation
    Authority (“IIA,” formerly the Office of the Chief Scientist) of the
    Ministry of Economy and Industry. The grant provides continuing funding
    for the development of OpRegen®, a cell-based
    therapeutic product that consists of animal product-free retinal pigment
    epithelial (RPE) cells with high purity and potency.
    OpRegen® is currently in a Phase I/IIa dose-escalation clinical
    study evaluating the safety and efficacy of OpRegen® for
    geographic atrophy (GA), the severe stage of the dry form of age-related
    macular degeneration (dry-AMD). Dry-AMD is a leading cause of blindness
    in people over age 60, for which there is no currently approved therapy.
    “We are proud to be one of Israel’s innovative life science companies,
    and we want to thank the Israel Innovation Authority for its ongoing
    commitment and continuing support of our development of a cell
    therapy-based treatment for this major disease of aging,” said Charles
    Irving, Ph.D., Chief Executive Officer of Cell Cure.
    The IIA has to date provided grants of approximately $9.6 million to
    Cell Cure. Under the grant award agreement, Cell Cure is obligated to
    pay a 3.5% royalty to the IIA on revenues from OpRegen® up
    to an amount equal to 100% of the grants received plus interest at a
    LIBOR rate.
    About Dry Age-Related Macular Degeneration (Dry–AMD)
    Dry-AMD is the most common type of macular degeneration and affects
    approximately 90% of people with the disorder. In dry-AMD, there is a
    loss or dysfunction of the layer of retinal pigment epithelial (RPE)
    cells generally in the region of the eye called the macula, which is the
    part of the retina responsible for sharp, central vision that is
    important for facial recognition, reading and driving. These RPE cells
    support the light detecting photoreceptor cells that are so critical to
    vision. When we look at something, the photoreceptors (rods and cones)
    detect the light and send the information to the brain allowing us to
    perceive our surroundings. The age-dependent loss of the RPE cells
    therefore leads to degeneration of nearby photoreceptors and this can
    lead to severe vision loss or even blindness. Generally, the damage
    caused by the “dry” form is not as severe or rapid as that of the “wet”
    form. However, over time, it can cause profound vision loss. The more
    advanced stage of dry macular degeneration is called geographic atrophy.
    While there are therapeutics available to treat the wet form of AMD,
    there are currently no FDA-approved therapies for dry-AMD.
    About OpRegen®
    OpRegen® consists of retinal pigment epithelial
    (RPE) cells that are produced using a proprietary process that drives
    the differentiation of human embryonic stem cells into high purity RPE
    cells. OpRegen® is also “xeno-free,” meaning
    that no animal products were used either in the derivation and expansion
    of the human embryonic stem cells or in the directed differentiation
    process. The avoidance of the use of animal products eliminates some
    safety concerns. OpRegen® is formulated as a
    suspension of RPE cells. Preclinical studies in mice have shown that
    following a single subretinal injection of OpRegen®,
    as a suspension of cells, the cells can rapidly organize into its
    natural monolayer structure and survive throughout the lifetime of the
    animal. OpRegen® is designed to be an
    “off-the-shelf” allogeneic (non-patient specific) product. Unlike
    treatments that require multiple, frequent injections into the eye, it
    is expected that OpRegen® would be administered
    in a single procedure.
    About BioTime
    BioTime, Inc. is a clinical-stage biotechnology company focused on
    developing and commercializing novel therapies developed from what we
    believe to be the world’s premier collection of pluripotent cell assets.
    The foundation of our core therapeutic technology platform is
    pluripotent cells that are capable of becoming any of the cell types in
    the human body. Pluripotent cells have potential application in many
    areas of medicine with large unmet patient needs, including various
    age-related degenerative diseases and degenerative conditions for which
    there presently are no cures. Unlike pharmaceuticals that require a
    molecular target, therapeutic strategies based on the use of pluripotent
    cells are generally aimed at regenerating or replacing affected cells
    and tissues, and therefore may have broader applicability than
    pharmaceutical products.
    In addition to the development of therapeutics, BioTime’s research and
    other activities have resulted, over time, in the creation of other
    subsidiaries that address other non-therapeutic market opportunities
    such as cancer diagnostics, drug development and cell research products,
    and mobile health software applications.
    BioTime common stock is traded on the NYSE MKT and TASE under the symbol
    BTX. For more information, please visit www.biotimeinc.com
    or connect with the company on Twitter,
    LinkedIn,
    Facebook,
    YouTube,
    and Google+.
    FORWARD-LOOKING STATEMENTS
    Statements pertaining to future financial and/or operating results,
    future growth in research, technology, clinical development, and
    potential opportunities for BioTime and its subsidiaries, 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
    business of BioTime and its subsidiaries, 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.
    To receive ongoing BioTime corporate communications, please click on the
    following link to join our email alert list: https://news.biotimeinc.com.

    life science companiesopregenclinical trialspharmaceutical products
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