BioTime amends license agreement with University of Utah for HyStem technology

BioTime amends license agreement with University of Utah for HyStem technology

BioTime, Inc. (NYSE MKT: BTX) announced that the company has amended its license from the University of Utah to expand the field of use for which BioTime is licensed to produce and market products covered by the core patents underlying HyStem® technology. Under the amended license, BioTime now is licensed worldwide for all uses, with the exception of veterinary medicine and animal health. The field of use includes, but is not limited to, all human pharmaceutical and medical device applications, all tissue engineering and regenerative medicine uses, and all research applications. Previously, BioTime’s license in the United States was not exclusive and the fields of use of the technology permitted by the license were not as broad.

“We are pleased to have an exclusive license to the full spectrum of human medical products possible with HyStem®,” said William Tew, Ph.D., Chief Commercial Officer at BioTime. “In addition to Renevia™ which is currently in preclinical studies, we have initiated development programs for additional products that are planned as relatively near-term sources of revenue while strategically laying the foundation for the wide array of cell-based regenerative therapies that may be developed based on stem cell sciences.”

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