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LifeMap Sciences, Inc. Announces Addition To Board Of Directors And Provides Update On Product Portfolio Development

Stocks in this article: BTX

BioTime, Inc. (NYSE MKT: BTX) and its subsidiary, LifeMap Sciences, Inc., today announced the appointment of Louis E. Silverman to LifeMap Sciences’ board of directors.

Mr. Silverman is an experienced health care executive with board level and operating experience in health care IT, pharmaceuticals, home health care, worker’s compensation managed care and revenue cycle management. From September 2009 through to its successful sale in June of 2012, Mr. Silverman was the Chief Executive Officer of privately held Marina Medical Billing Service Inc., a company focused on providing revenue cycle management services nationally to emergency room physicians. Prior to joining Marina Medical, Mr. Silverman was President and Chief Executive Officer of Lifecomm, Inc., a Qualcomm Incorporated incubated wireless health services start-up. From 2000 – 2008, Mr. Silverman was President and Chief Executive Officer of Quality Systems, Inc., a developer of medical and dental practice management software, which he led to significant revenue growth and an increase in market value from $42 million to $1.2 billion. Previously, Mr. Silverman was the Chief Operations Officer of Corvel Corporation. Mr. Silverman currently serves as a member of the Board of Directors of Questcor Pharmaceuticals, Inc., a publicly traded biopharmaceutical company focused on the treatment of patients with serious, difficult-to-treat autoimmune and inflammatory disorders. Mr. Silverman also serves on the Board of Directors of Comarco, Inc., a public company. Mr. Silverman earned a Bachelor of Arts degree from Amherst College and a Masters in Business Administration from Harvard Graduate School of Business Administration.

In addition, today LifeMap Sciences also announced progress on key development initiatives. During the final quarter of the calendar year 2012, the company expects to launch or upgrade its four database products: GeneCards ®, MalaCards, PanDaTox, and LifeMap Discovery™. In addition, LifeMap Sciences will launch the marketing and sales of BioTime’s proprietary research product lines, including PureStem™ human progenitor and human embryonic stem cell lines via the company’s LifeMap BioReagents™ portal. Another major LifeMap Sciences initiative is its therapeutic discovery collaboration with BioTime, which utilizes the LifeMap Discovery™ platform and leverages the LifeMap Sciences scientific team (including ten Ph.D. and four M.S. biologists and bioinformatics specialists) to research and identify those progenitor cell lines that are most likely to be useful in developing cell-based regenerative medicine therapies for a wide range of diseases. Once identified, selected cell lines will be marketed by LifeMap Sciences for research purposes via the LifeMap BioReagents™ portal and may be advanced into therapeutic development by BioTime and/or LifeMap Sciences.

“Adding an experienced health care executive to our Board of Directors and delivering meaningful enhancements to our product portfolio marks 2012 as a year of great progress for our company and sets the stage for continued growth and expansion into 2013,” stated David Warshawsky, Ph.D., LifeMap Sciences’ Chief Executive Officer.

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