BioTime Forms New Subsidiary AgeX Therapeutics to Develop its Programs Focused on Human Aging

BioTime, Inc., a clinical-stage biotechnology company developing and commercializing products addressing degenerative diseases, has announced the formation of AgeX Therapeutics, Inc., which will consolidate certain BioTime subsidiaries and programs in the field of interventional gerontology. The formation of AgeX continues the implementation of BioTime’s strategy to simplify its corporate structure and operations as well as focus resources on the continued clinical development of its two lead programs; Renevia®, a proprietary cell delivery matrix designed to facilitate the stable engraftment of transplanted cells that is currently in a pivotal clinical trial, and OpRegen®, a pluripotent cell-derived cell therapy that is in a Phase 1/2a clinical trial for the dry form of age related macular degeneration (dry-AMD). The formation of AgeX provides the new BioTime subsidiary greater flexibility to explore external financing alternatives as well as strategic options to grow its technology platform.

BioTime’s Co-CEO, Michael D. West, Ph.D., has been considered a foremost expert in regenerative medicine and aging since he founded Geron Corporation in 1990, the first public biotechnology company focused on the biology of human aging. At Geron he led the efforts in the first isolation of human pluripotent stem cells and in telomere biology, the "clocking" mechanism behind human cell aging.

The mission of AgeX is to apply technology related to pluripotent stem cells and telomere biology to aging and age-related disease. AgeX is expected to have three initial areas of focus: 1) the development of pluripotent stem cell-derived brown adipocytes for the treatment of Type II diabetes and potentially obesity; 2) the development of vascular progenitors to improve circulation to ischemic tissues in patients suffering from heart disease; and 3) Induced Tissue Regeneration (iTR)TM - an emerging technology invented and patented by BioTime scientists that is designed to profoundly reprogram aged tissues in the body in a way that can restore a regenerative phenotype normally expressed only in the first few weeks of human development. These technologies were the subject of a recent conference presentation by Dr. West that is available on YouTube called The Future of Aging.

"The biotechnology of aging has finally come of age," said Dr. West. "The aging U.S. population is the demographic trend of our time. In our opinion, these assets, carefully assembled and developed over the past few years, will facilitate our leadership of the explosive growth of product development in the emerging field of interventional gerontology."

"The formation of AgeX is in line with our stated objectives of simplification and unlocking value," said Adi Mohanty, Co-CEO of BioTime. "This step will provide greater flexibility to AgeX as it considers further development of its technology platform and grows its business. This step is also especially important to BioTime as it increasingly focuses its resources on the clinical development of its Ophthalmology, Aesthetics and Therapeutics Delivery products."