BioTime, Inc. (NYSE MKT: BTX) and its subsidiary OrthoCyte Corporation today announced the appointment of Francois Binette, PhD, as OrthoCyte’s Vice President of Research and Business Development. Dr. Binette’s primary focus will be to develop and partner near- and long-term product opportunities in regenerative medicine with an emphasis on orthopedic diseases and injuries. OrthoCyte is a wholly owned subsidiary of BioTime, Inc. that develops cellular therapeutics for orthopedic repair, diseases, and injuries. “I am impressed by the robust nature of the novel and diverse progenitors of skeletal tissues that BioTime has isolated using its ACTCellerateTM technology,” said Dr. Binette. “The ability to generate scalable and precisely identified types of cartilage, bone, and tendon, combined with the HyStem® technology for tissue engineering, gives us a remarkable platform for manufacturing an array of novel products to address some of the largest and fastest growing needs in the orthopedic space. I look forward to building on the science and technology developed at OrthoCyte to aggressively develop the company’s product pipeline and pursue partnering opportunities.” “Francois brings tremendous expertise in regenerative medicine, cell therapy, biologics, biomaterials, and combination medical devices. He also has significant business experience in partnering and collaboration with both start-up and large life science companies,” said Michael D. West, PhD, BioTime’s Chief Executive Officer. “We welcome Francois to the OrthoCyte team and look forward to working together with him in developing commercial product opportunities for the orthopedic repair market.” Dr. Binette most recently was the founder of Rediens Inc., a Bay Area start-up company focused on chronic back pain therapies. Prior to establishing Rediens, he was Director of Biologics R&D for the Spinal & Biologics business unit of Medtronic, Inc., and he also served in a variety of positions with Johnson & Johnson, where he focused on regenerative medicine therapies for various orthopedic indications, including cartilage injuries and back pain. Dr. Binette began his corporate career at Genzyme Tissue Repair, where he helped pioneer Carticel, the first FDA Biologic License Application-approved cell therapy product. Dr. Binette received his PhD in Biochemistry at Laval University in Québec and was a postdoctoral research fellow at the LaJolla Cancer Research Foundation of the Sanford-Burnham Medical Research Institute and at MGH/Harvard Medical School. He is currently a fellow with the International Cartilage Repair Society.
Investors considering a purchase of BioTime, Inc. shares, but tentative about paying the going market price of $3.26/share, might benefit from considering selling puts among the alternative strategies at their disposal.