BioTime to Seek New International Marketing Partner.Business Editors & Health/Medical Writers BIOWIRE2K BERKELEY, Calif.--(BW HealthWire)--July 20, 2001 BioTime, Inc. (AMEX AMEX See: American Stock Exchange :BTX (Balanced Technology EXtended) A motherboard design from Intel introduced in 2004 that supersedes the ATX. Unlike the ATX, the placement of all chip sockets in the BTX is defined in order to provide sufficient air flow over the processor and display adapter. ) announced today that it has been informed by Horus B.V. (a subsidiary of Akzo Nobel Akzo Nobel is a multinational company, active in the fields of healthcare products, coatings and chemicals. Headquartered in Amsterdam, the Netherlands, the company has activities in more than 80 countries, and employs approximately 62,000 people. , N.V.) that Horus will not finalize the supply and manufacturing agreements required under the Exclusive License Agreement signed by the parties during February 2001. Accordingly, Horus will not market Hextend(R) or other BioTime products under that license agreement and BioTime will offer those rights to other pharmaceutical companies. "This development follows a major reorganization of Akzo Nobel's pharmaceutical divisions," said Paul Segall, BioTime Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Acceptance of Hextend continues to accelerate in the United States, and we remain confident about the prospects of our products in the international market. We are reopening discussions with other companies that have expressed their interest in marketing our product line in Europe and other parts of the world. We are also continuing our negotiations with Nihon Pharmaceutical Co., Ltd. in Japan." BioTime, headquartered in Berkeley, California 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. Information about BioTime can be found on the web at www.biotimeinc.com. 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; BioTime's ability to obtain 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 its products; competition from products manufactured and sold or being developed by other companies; the price of and demand for BioTime's products; BioTime's ability to negotiate favorable licensing or other manufacturing and marketing agreements for its products; the availability of ingredients used in BioTime products; the availability of reimbursement for the cost of BioTime products (and related treatment) from government health administration authorities, private health coverage insurers and other organizations; and the ability of BioTime to raise additional capital. These and other risk factors are discussed in BioTime's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission. |
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