BioTime, Processa to enter into HyStem sublicense for drug delivery
BioTime reached agreement on terms to sublicense certain HyStem rights to Processa Pharmaceuticals for the creation of a sustained-release delivery platform. HyStem is BioTime's cell and drug delivery platform. HyStem technology includes a family of unique, biocompatible hydrogels designed to effectively deliver cells or bioactive compositions for therapeutic benefit. HyStem was designed to enable the effective transfer, engraftment and metabolic support for cells and is the basis of BioTime's Renevia program. The flexible chemistry of the HyStem also allows for hydrogel optimization in the delivery of drugs and therapeutics. BioTime is actively pursuing local delivery aspects of this platform technology.