In a move to reflects the company’s commitment to becoming a leading cell therapy company, BioTime announced it is launching a new corporate brand, including a change of its corporate name to Lineage Cell Therapeutics, effective August 12, 2019.
In connection with the launch, the company’s NYSE American ticker symbol will change to “LCTX” and will be effective at the open of the market on August 12, 2019. The company’s former ticker symbol “BTX” will remain effective through market close as of August 9, 2019. The new website for Lineage Cell Therapeutics will be www.lineagecell.com. The company’s new identity reflects its commitment to becoming an innovative, leading cell therapy company and highlights its extensive cell therapy platform.
“BioTime has been a pioneering company in the field of cell therapy, but its assortment of programs and affiliates sometimes detracted from its core business and made it difficult for key audiences to fully appreciate its story,” Brian M. Culley, Chief Executive Officer, said in a company news release. “During the past three quarters, a new management team has taken aggressive steps to streamline the corporate structure, selectively convert diverse equity holdings into cash, and focus priorities on our three clinical-stage assets. With a clearer structure and clinical focus now in place, this was the right time to update our name and invite stakeholders to rediscover this exciting business.”
“Our new brand defines us within our field: We control the lineage of pluripotent cells and transplant those differentiated cell types into patients as therapeutics. The descriptive and unique logo is expressive of our core technology and refined focus. We look forward to launching our new brand on August 12 and continuing to build momentum and awareness of the company’s mission among the investment, medical and patient communities,” Mr. Culley said.
The company also will be relocating its corporate headquarters to Carlsbad, California, effective August 12, 2019. The move to San Diego County will provide the company with proximity to world-leading academic centers, public and private cell therapy peers, and is expected to offer more centralized decision-making, cost-savings, and access to an extensive network of experienced staff.