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BioTime, Inc. Message Board

  • btimnextmicrosoft btimnextmicrosoft Jun 17, 2014 1:48 PM Flag

    AST CEO buys shares+$25 MILraised in last two months

    14.3 MIL CIRM grant plus 12MIL worth of BTX shares today. Should give us enough to restart spine trials:

    ALAMEDA, Calif. & MENLO PARK, Calif. --(BUSINESS WIRE)--Jun. 17, 2014-- BioTime , Inc. (NYSE MKT: BTX) today announced that on June 12, 2014 , Pedro Lichtinger , President and Chief Executive Officer of its subsidiary Asterias Biotherapeutics, Inc. ("Asterias") purchased from Asterias 200,000 shares of Asterias Series B common stock at a price of $2.34 per share. The funds raised by this purchase will be used in part to finance Asterias' therapeutic product development programs, which are based on the potential of using human embryonic stem (hES) cells to create innovative new therapies for diseases and conditions for which effective treatments are not presently available.
    "The Board of Directors of Asterias is honored that Pedro elected to join Asterias as CEO and is very pleased that he also chose to make a significant financial commitment to the company," said Alfred D. Kingsley, Chairman of the Asterias Board of Directors. "With Pedro at the helm, Asterias is focused on its efforts to develop and commercialize therapies that have the potential to treat patients with serious unmet medical needs. In particular, Pedro will lead Asterias through the process of advancing its lead clinical-stage programs, AST-OPC1 for the treatment of spinal cord injury and the AST-VAC2 allogeneic dendritic cell cancer immunotherapy platform."
    "I believe in Asterias' technology, its therapeutic programs, and its talented employees and am committed to making the company a success," remarked Mr. Lichtinger. "My efforts as the company's CEO will focus on developing innovative therapies for critically ill and chronically ill patients, and creating significant value over time for Asterias shareholders."

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