New leader at Asterias Biotherapeutics

|By:, SA News Editor

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.

This was corrected on 06/13/2014 at 04:06 PM. Clarification: The stock options and stock compensation for Mr. Lichtinger pertain to Asterias Biotherapeutics equity, not BTX.