BioTime To Seek New Marketing Partners For PentaLyte(R).EMERYVILLE, Calif. -- BioTime, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BTIM) announced today that Hospira, Inc. has declined an opportunity to commercialize PentaLyte([R]) under the terms offered by BioTime. PentaLyte([R]) is BioTime's proprietary pentastarch-based plasma volume expander in a balanced formulation. Hospira will continue to manufacture and sell Hextend([R]) in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. under its License Agreement with BioTime and retains its right to obtain regulatory approval and market Hextend in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and Australia. BioTime already has licensing arrangements for PentaLyte([R]) in South Korea, China and Taiwan, and a co-development agreement for PentaLyte([R]) in Japan. BioTime will offer other pharmaceutical companies the opportunity to license PentaLyte([R]) in the remaining available territories. About BioTime, Inc. BioTime, headquartered in Emeryville, California Emeryville is a small city located in Alameda County, California , in the United States. It is located in a corridor between the cities of Berkeley and Oakland, extending to the shore of San Francisco Bay. , develops blood plasma blood plasma n. The yellow or gray-yellow, protein-containing fluid portion of blood in which the blood cells and platelets are normally suspended. volume expanders, blood replacement solutions for hypothermic hy·po·ther·mi·a n. Abnormally low body temperature. [hypo- + Greek therm (low temperature) surgery, organ preservation solutions and technology for use in surgery, emergency trauma treatment and other applications. BioTime's lead product Hextend is manufactured and distributed in the U.S. by Hospira, Inc. and in South Korea by CJ Corp. under exclusive licensing agreements. Information about BioTime can be found on the web at www.biotimeinc.com. Hextend([R]), PentaLyte([R]), and HetaCool([R]) are registered trademarks of BioTime, Inc. Forward Looking Statements The matters discussed in this press release include forward-looking statements which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated. Such risks and uncertainties include but are not limited to the results of clinical trials of BioTime products; the ability of BioTime and its licensees to obtain additional FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. and foreign regulatory approval to market BioTime products; competition from products manufactured and sold or being developed by other companies; and the price of and demand for BioTime products. Other factors that could affect BioTime's operations and financial condition are discussed in BioTime's Annual Report on Form 10-KSB filed with the Securities and Exchange Commission. |
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