The BOD of BioTime (BTX +1.3%) subsidiary Asterias Biotherapeutics appoints Pedro Lichtinger President and CEO replacing interim chief Dr. Michael D. West. Dr. West will resume his role as VP of Technology Integration and continue to serve as BioTime's President & CEO.
Mr. Lichtinger was previously President & CEO of Optimer Pharmaceuticals. Prior to that he was an executive at Pfizer (PFE +0.3%). He will earn a base salary of $400K/year and has been granted options to purchase 1M shares of Asterias Biotherapeutics common stock at $2.34 plus 200K shares of restricted Asterias stock under the company's Equity Incentive Plan.