BioTime forms new acquisitions arm
BioTime has established a new subsidiary to oversee its strategic acquisitions.
BioTime has announced the formation of a new sub-division dedicated to pursuing opportunities for acquisitions in the fields of stem cells and regenerative medicines.
The biopharma company specialises in research and development of new products in these fields and has appointed Dr Thomas Okarma as chief executive of BioTime Acquisition Corporation.
Since 2010, the company has expanded the size of its business through a number of strategic acquisitions. These include ES Cell International, a Singapore-based company that developed the first human embryonic stem cells under current good manufacturing practices.
The company has also acquired Cell Cure Neurosciences, which develops therapeutic products derived from stem cells to treat retinal and neural degenerative diseases.
It is hoped that the specialised subsidiary will further the company's expansion through such acquisitions as these.
"Global advances on multiple fronts of stem cell biology have established the foundation for an integrative business approach to consolidate and translate these discoveries into products that may revolutionise clinical medicine," said Dr Okarma.
He added that "living cell therapies" can now be manufactured scalably and efficiently, as well as being tested in controlled clinical trials.
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