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news.BioTime has acquired substantially all the assets of Cell Targeting (CTI), a Cleveland, Ohio-based biotechnology company conducting research in regenerative medicine.
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The technology acquired from CTI uses peptides chosen for their capability to adhere to diseased tissue.
By coating these peptides on the surfaces of therapeutic cells, CTI has produced tissue-specific and disease-specific cell modification agents with potential to take cell therapy products to a new level of performance.
BioTime issued 261,959 common shares and paid $250,000 in cash to acquire the CTI assets.
The acquired technology includes technology patented by CTI, which was developed by invented by Erkki Ruoslahti’s group at the Sanford-Burnham Medical Research Institute (SBMRI) for use in cell therapy.
The new technology holds promise for use in directing human cells derived from embryonic stem (hES) and induced pluripotent stem (iPS) cells to sites in the body where they can have therapeutic effect.
Initially, BioTime will provide this technology to its majority owned subsidiary OncoCyte Corporation, for its R&D related to genetically modified hES-derived vascular progenitors designed to target and destroy malignant tumours
BioTime president and CEO Michael West said the acquisition of assets of CTI is indicative of the company’s plan to assemble a core of stem cell and related manufacturing technologies capable of enabling the development of a wide array of therapeutic products in the emerging field of regenerative medicine.