BioTime acquires rights to retinal disease assets

BioTime (NYSE MKT:BTX) has acquired global rights to ophthalmology-related intellectual property assets from the University of Pittsburgh’s Medical Center, via the school’s Innovation Institute.

The technology was developed in part in collaboration with BioTime scientists and includes composition and methodologies to develop 3-D retinal tissue derived from human pluripotent stem cells for implantation in patients with advanced stages of retinal degeneration.

“This significant addition to our expanding portfolio is a major step toward our goal of becoming an industry leader in regenerative ophthalmology innovation,” Adi Mohanty, co-CEO, said in a statement.

“These assets enable us to develop treatments for advanced forms of blindness for which there are currently no treatments available,” he added. “We intend to build a strong franchise for serious forms of eye disease.”

Michael West, co-CEO, said BioTime anticipates that the technology will allow the company to generate three-dimensional laminated human retinal tissue in a controlled manufacturing process.

“This could lead to vision restoration treatments for a variety of blinding retinal degenerative diseases, particularly retinitis pigmentosa, macular degeneration, and diabetic retinopathy, among other diseases and conditions,” he added.