BioTime Appoints Henry L. Nordhoff to Board of Directors
ALAMEDA, Calif.--(BUSINESS WIRE)-- BioTime, Inc. (NYSE MKT: BTX) today announced that Henry L. Nordhoff, former CEO and Chairman of Gen-Probe Inc., has been appointed to its Board of Directors.
"We are pleased to welcome an accomplished healthcare executive of Hank's caliber to BioTime's board," said Alfred D. Kingsley, Chairman of the Board of BioTime. "Hank's 43 years of experience in the pharmaceutical business, including most recently his leadership role in managing impressive growth at Gen-Probe over a 15-year period should prove valuable as BioTime continues to pursue multiple growth opportunities."
"BioTime is a leading company in the emerging field of Regenerative Medicine," said Mr. Nordhoff. "I am pleased to be joining BioTime at this important juncture, as the company moves towards translating a magnificent array of technologies into products, and then introducing those products into the marketplace to alleviate suffering and cure diseases."
Mr. Nordhoff is the former CEO and Chairman of Gen-Probe, Inc., a leading molecular diagnostics company which was acquired in 2012 in an all-cash transaction that valued the company at $3.72 billion.
n November the Energy and Commerce Committee's Democratic and Republican leaders sent a letter regarding apparent conflicts of interest to the head of the FDA, Dr. Andrew von Eschenbach, who helmed the agency from 2006 until 2009. During that time, von Eschenbach was also director of the National Cancer Institute and founder of anti-cancer forum C-Change. One FDA report indicated that von Eschenbach was moved by political pressure in the drug approvals process, which is typically handled by scientific staff.
Back in 2005 a senior Republican senator told former President Bush that he should cancel his plan to allow von Eschenbach, a longtime friend of the Bush family and the director of the National Cancer Institute, to serve simultaneously as acting commissioner of food and drugs.
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Much of the incentive for this corruption letter stems from a medical device. In 2009 the FDA said that former commissioner von Eschenbach and four New Jersey congressmen unduly influenced the approval for Menaflex, a medical device made by ReGen Biologics Inc., even though the agency's scientific reviewers deemed the device unsafe. One senator reportedly received $2,300 in 2008 from a ReGen executive.
This was the first time the FDA publicly questioned the process behind one of its approvals, admitted that a regulatory decision was influenced by politics and accused a former commissioner of questionable conduct.