BioTime Announces Dual Listing on the Tel Aviv Stock Exchange
– Common shares are currently listed on NYSE MKT and will also be
listed on the Tel Aviv Stock Exchange (TASE) beginning September 8, 2015
under ticker symbol BTX
– Anticipated inclusion in the TASE: TA-75, TA-100, TA-BlueTech,
TA-Tech-Elite and TA-Biomed Indexes
ALAMEDA, Calif. & TEL AVIV, Israel–(BUSINESS WIRE)–BioTime, Inc. (NYSE MKT: BTX), a biotechnology company focused on the
development and commercialization of cell-based therapies, announced
today that the Tel Aviv Stock Exchange (TASE) has approved the new
listing of BioTime’s common shares beginning on Tuesday, September 8,
2015 under the ticker symbol BTX. Based on the current market
capitalization, BioTime’s shares are anticipated to be included in five
TASE equity indexes: TASE’s TA-75, TA-100, TA-BlueTech, TA-Tech-Elite
and TA-Biomed.
“We believe that the dual listing on the TASE will help us to open a new
access point for our shares in the Israeli market that is becoming a
center for biomed and emerging technology companies,” said Michael D.
West, Ph.D., CEO of BioTime. “The new listing also offers an opportunity
to expand and diversify our shareholder base by increasing our exposure
and improving our accessibility to Israeli investors.”
TASE CEO, Yossi Beinart said, “We welcome BioTime to the Tel Aviv Stock
Exchange Dual Listing, and believe that this is a recognition of the
Biomed sector’s special position at the Tel Aviv Stock Exchange. BioTime
joins a group of 46 cross-listed companies entitling them to significant
benefits including, added exposure among Israeli investors, extension of
the trading day, investment by Exchange Traded Product vendors, and easy
access to institutional and retail investors as well as to global growth
companies.”
BioTime considers this listing a natural extension of its long-standing
relationship with the Israeli biotechnology industry, including its two
Israeli subsidiaries Cell Cure Neurosciences Ltd. (“Cell Cure”) of
Jerusalem and LifeMap Sciences Ltd. of Tel Aviv which has benefited from
a rewarding relationship with the Weizmann Institute of Science.
In conjunction with the Hadassah Human Embryonic Stem Cell Research
Center at Hadassah University Medical Center, BioTime’s Jerusalem-based
subsidiary Cell Cure is currently conducting a Phase I/IIa clinical
trial of its lead product OpRegen®, the first cell
therapy product derived from human embryonic stem cells (ESCs) ever to
undergo clinical testing in Israel. Utilizing retinal pigment epithelial
(RPE) cells derived from ESCs, the OpRegen® trial is
targeting the dry form of age-related macular degeneration (AMD). AMD is
the number one cause of blindness in the elderly in the developed world.
The clinical trial is being funded in part by a grant from the Office of
the Chief Scientist (OCS).
Trading Regulations
BioTime’s shares will continue to be listed on the NYSE MKT, subject to
the rules and regulations of the NYSE MKT applicable to listed
companies. Under Israel’s Dual Listing Law, U.S.-listed companies may
also list on the TASE without any additional regulatory requirements.
Investors should note that the trading on the TASE occurs Sunday through
Thursday from 8:30 am to 4:30 pm Israel time, except on TASE trading
holidays, and trading on the NYSE MKT occurs Monday through Friday, 9:30
am to 4:00 pm Eastern Time, except on NYSE holidays. The TASE Clearing
House is electronically linked to the Depository Trust Company, a
subsidiary of the Depository Trust & Clearing Corporation, to automate
the cross-border settlement of shares listed on both the TASE and a U.S.
Exchange.
About BioTime
BioTime, Inc., a pioneer in regenerative medicine, is a clinical-stage
biotechnology company. BioTime and its subsidiaries are leveraging their
industry-leading experience in pluripotent stem cell technology and a
broad intellectual property portfolio to facilitate the development and
use of cell-based therapies and gene marker-based molecular diagnostics
for major diseases and degenerative conditions for which there presently
are no cures. The lead clinical programs of BioTime and its subsidiaries
include OpRegen®, currently in a Phase I/IIa
trial for the treatment of the dry form of age-related macular
degeneration; AST-OPC1, currently in a Phase I/IIa trial for
spinal cord injuries; Renevia™, currently in a pivotal trial
in Europe as an injectable matrix for the engraftment of transplanted
cells to treat HIV-related lipoatrophy; and cancer diagnostics, nearing
the completion of initial clinical studies for the detection of lung,
bladder, and breast cancers. AST-VAC2, a cancer vaccine, is
in the pre-clinical trial stage.
BioTime’s subsidiaries include the publicly traded Asterias
Biotherapeutics, Inc., developing pluripotent stem cell-based therapies
in neurology and oncology, including AST-OPC1 and AST-VAC2; Cell
Cure Neurosciences Ltd., developing stem cell-based therapies for
retinal and neurological disorders, including OpRegen®; OncoCyte
Corporation, developing cancer diagnostics; LifeMap Sciences, Inc.,
developing and marketing an integrated online database resource for
biomedical and stem cell research; LifeMap Solutions, Inc., a subsidiary
of LifeMap Sciences, developing mobile health (mHealth) products; ES
Cell International Pte Ltd, which has developed cGMP-compliant human
embryonic stem cell lines that are being marketed by BioTime for
research purposes under the ESI BIO branding program; OrthoCyte
Corporation, developing therapies to treat orthopedic disorders,
diseases, and injuries; and ReCyte Therapeutics, Inc., developing
therapies to treat a variety of cardiovascular and related ischemic
disorders.
BioTime common stock is traded on the NYSE MKT under the symbol BTX. For
more information, please visit www.biotimeinc.com or
connect with the company on Twitter, LinkedIn, Facebook, YouTube,
and Google+.
Forward-Looking Statements
Statements pertaining to future financial and/or operating results,
future growth in research, technology, clinical development, and
potential opportunities for BioTime and its subsidiaries, along with
other statements about the future expectations, beliefs, goals, plans,
or prospects expressed by management constitute forward-looking
statements. Any statements that are not historical fact (including, but
not limited to statements that contain words such as “will,” “believes,”
“plans,” “anticipates,” “expects,” “estimates”) should also be
considered to be forward-looking statements. Forward-looking statements
involve risks and uncertainties, including, without limitation, risks
inherent in the development and/or commercialization of potential
products, uncertainty in the results of clinical trials or regulatory
approvals, need and ability to obtain future capital, and maintenance of
intellectual property rights. Actual results may differ materially from
the results anticipated in these forward-looking statements and as such
should be evaluated together with the many uncertainties that affect the
business of BioTime and its subsidiaries, particularly those mentioned
in the cautionary statements found in BioTime’s Securities and Exchange
Commission filings. BioTime disclaims any intent or obligation to update
these forward-looking statements.
To receive ongoing BioTime corporate communications, please click on the
following link to join our email alert list: http://news.biotimeinc.com
Contacts
BioTime, Inc.
Dan L. Lawrence, 510-775-0510
dlawrence@biotimemail.com
or
Investor
Contact:
EVC Group, Inc.
Michael Polyviou, 646-445-4800
mpolyviou@evcgroup.com
or
Media
Contact:
Gotham
Communications, LLC
Bill
Douglass, 646-504-0890
bill@gothamcomm.com
or
Israel
Contact:
Gelbart-Kahana Investor Relations
Zeev Gelbart,
+972-3-6074717
zeevg@gk-biz.com
