BioTime Investigates Stem Cells to Treat Cancer

BioTime, Inc. (BTIM.OB) announced that Dr. David Jin, Chief Medical Officer of BioTime’s newly formed subsidiary, OncoCyte Corporation, will present the keynote address at the Fifth Chinese Congress on Stem Cell Therapy in Beijing. The presentation, which will be delivered Friday, October 23, will discuss OncoCyte’s technology that uses hemangiogenic stem cell technology to target and destroy tumors.

The presentation is entitled “Chemokine regulation of hematopoietic stem cell mobilization and angiogenesis.” OncoCyte intends to use human embryonic stem cell technology to create genetically modified stem cells capable of targeting specific malignant tumors while carrying genes that destroy cancer cells.

OncoCyte’s plan is radically different from most proposed uses of stem cells, which are generally aimed at regenerating tissue.

BioTime announced the formation of OncoCyte last week. BioTime licensed its cell-based cancer therapy technology, including early patent filings on using stem cells to target malignant tumors, to the new subsidiary. OncoCyte also said a private investor provided start-up capital, paying $2 million for 3,000,000 shares of the company, a 15% stake. The investor has the option of purchasing another 3,000,000 shares, also for $2 million, on or before April 15, 2010. The company and the investor placed a market value on OncoCyte’s technology at about $15 million.

Last month, BioTime announced that it has established a China subsidiary, BioTime Asia, which is tasked with marketing the company’s stem cell products in China and throughout Asia. BioTime will also seek to develop stem cell therapies in China that are aimed at treating a number of diseases, including the cancer research. BioTime hired Dr. Lu Daopei, a prominent China hematologist, to help set up and manage the clinical trials of its therapeutic stem cell products.

In addition to cancer, BioTime plans to develop therapeutic stem cell products in China for the treatment of ophthalmologic, skin, musculo-skeletal system and hematologic diseases. At present, BioTime's lead product is Hextend®, a blood plasma volume expander.

Disclosure: none.