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BioTime Appoints Stephen C. Farrell to Board of Directors
ALAMEDA, Calif., Mar 12, 2013 (BUSINESS WIRE) -- BioTime, Inc. (nyse mkt:BTX)
today announced that Stephen C. Farrell has been appointed to its Board of
Directors.
"We are pleased to welcome an experienced executive of Steve's caliber to
BioTime's board," said Alfred D. Kingsley, Chairman of the Board of BioTime.
"Steve adds critical and highly relevant experience as a successful leader and
director of healthcare companies during periods of rapid growth. His operational
and financial experience and his strategic vision will be valuable additions to
our board during an exciting period of growth for BioTime."
"BioTime's development and progress toward the acquisition of novel technologies
in the stem cell space over the past year, along with its recent successful
financings, have further established it as a leader in regenerative medicine,"
said Mr. Farrell. "I am honored to join the BioTime Board of Directors during
such an important time in the Company's growth, and look forward to contributing
to the development of these new technologies, which have the potential to
significantly improve the health and quality of life of patients around the
world."
Mr. Farrell currently serves as Chief Executive Officer and Director of Convey
Health Solutions (formerly known as NationsHealth, Inc.), a healthcare business
process outsourcing company headquartered in Sunrise, Florida. Convey Health
Solutions utilizes both technology and staff to manage end-to-end insurance
processes for business clients. Previously, he served as President of PolyMedica
Corporation, a publicly traded provider of diabetes supplies and related services
that was acquired in 2007 by Medco Health Solutions in a transaction valued at
$1.5 billion. During his eight year tenure at PolyMedica, Mr. Farrell served as
its President, Chief Operating Officer, Chief Financial Officer, Chief Compliance
Officer, and Treasurer. Mr. Farrell also served as Executive Vice President and
Chief Financial Officer of Stream Global Services, Inc., a business process
outsourcing company. Earlier in his career, Mr. Farrell served as Senior Manager
at PricewaterhouseCoopers LLP. Mr. Farrell holds an A.B. from Harvard University,
and an M.B.A. from the Darden School at the University of Virginia. Mr. Farrell
currently serves on the board and is chairman of the Audit Committee of Questcor
Pharmaceuticals, Inc. (QCOR), a biopharmaceutical company focused on the
treatment of patients with serious, difficult-to-treat autoimmune and
inflammatory disorders.
About BioTime, Inc.
BioTime, headquartered in Alameda, California, is a biotechnology company focused
on regenerative medicine and blood plasma volume expanders. Its broad platform of
stem cell technologies is enhanced through subsidiaries focused on specific
fields of application. BioTime develops and markets research products in the
fields of stem cells and regenerative medicine, including a wide array of
proprietary PureStem(TM) cell lines, HyStem(R) hydrogels, culture media, and
differentiation kits. BioTime is developing Renevia(TM) (formerly known as
HyStem(R)-Rx), a biocompatible, implantable hyaluronan and collagen-based matrix
for cell delivery in human clinical applications. BioTime's therapeutic product
development strategy is pursued through subsidiaries that focus on specific organ
systems and related diseases for which there is a high unmet medical need.
BioTime's majority-owned subsidiary Cell Cure Neurosciences Ltd. is developing
therapeutic products derived from stem cells for the treatment of retinal and
neural degenerative diseases. BioTime's subsidiary OrthoCyte Corporation is
developing therapeutic applications of stem cells to treat orthopedic diseases
and injuries. Another subsidiary, OncoCyte Corporation, focuses on the diagnostic
and therapeutic applications of stem cell technology in cancer, including the
diagnostic product PanC-Dx(TM) currently being developed for the detection of
cancer in blood samples. ReCyte Therapeutics, Inc. is developing applications of
BioTime's proprietary induced pluripotent stem cell technology to reverse the
developmental aging of human cells to treat cardiovascular and blood cell
diseases. BioTime's subsidiary LifeMap Sciences, Inc. markets GeneCards(R), the
leading human gene database, as part of an integrated database suite that also
includes the LifeMap Discovery(TM) database of embryonic development, stem cell
research and regenerative medicine, and MalaCards, the human disease database.
LifeMap Sciences also markets BioTime research products and PanDaTox, an
innovative, recently developed, searchable database that can aid in the discovery
of new antibiotics and biotechnologically beneficial products. BioTime
Acquisition Corporation is a new subsidiary being used to acquire the stem cell
assets of Geron Corporation, including patents and other intellectual property,
biological materials, reagents, and equipment for the development of new
therapeutic products for regenerative medicine. BioTime's lead product,
Hextend(R), is a blood plasma volume expander manufactured and distributed in the
U.S. by Hospira, Inc. and in South Korea by CJ CheilJedang Corporation under
exclusive licensing agreements. Additional information about BioTime can be
obtained at biotimeinc.com. |
