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BioTime Appoints New Chief Financial Officer

BioTime, a biotech company based in Alameda at Harbor Bay Business Park, announced yesterday that it has appointed a new Chief Financial Officer (CFO).

Peter Garcia, age 50, will lead the accounting, finance and investor relations functions for BioTime and will report to Michael D. West, Ph.D., President and CEO. The CFO role was filled on an interim basis by Robert W. Peabody, who remains Senior Vice President and Chief Operating Officer.

“Pete brings a great deal of experience to BioTime, having led the financial teams of several biotechnology companies that were at similar points in the preliminary stages of their growth,” said Michael D. West, President and CEO of BioTime, Inc. “Early in his career he held positions of increasing responsibility over several years as a financial executive with Amgen Inc. Pete then became CFO of Dendreon Corp. early in its development, and was instrumental in raising over $30 million of capital that funded its initial therapeutic development work. More recently, he has served as the CFO for four U.S. biotechnology companies. We look forward to benefiting from Pete’s expertise in broadening our relationships within the investment community and the biopharma industry, and in developing and managing our financial organization.”

Mr. Garcia graduated from Stanford University in 1983 with a Bachelor of Arts degree in economics and sociology with honors. In 1985 he earned his MBA from the University of California Los Angeles with a concentration in Finance and Accounting.

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