embryonic stem cells (hESCs), pluripotent cells which are capable of morphing into all the cell types of the human body.

Cell Cure is a majority-owned subsidiary of BioTime, Inc. and is the neurological arm for BioTime’s program for development of human embryonic stem cell-based therapies. Additional shareholders include Teva Pharmaceuticals and Hadasit Bio-Holdings. In October, 2010, Cell Cure entered into an exclusive license option agreement with Teva to develop and commercialize Cell Cure’s OpRegen™ product for the treatment of AMD. Subject to the terms of the agreement, if Teva exercises its option to obtain an exclusive license to OpRegen™, Teva will have responsibility for funding clinical trials from that point on, obtaining regulatory approvals, and marketing the product.