BioTime Signs Agreements with Jade Therapeutics for Ophthalmological Drug Delivery Applications of HyStem® Technology

  BioTime Signs Agreements with Jade Therapeutics for Ophthalmological Drug
  Delivery Applications of HyStem® Technology

Business Wire

ALAMEDA, Calif. -- July 17, 2012

BioTime, Inc. (NYSE MKT: BTX), a biotechnology company that develops and
markets products in the field of regenerative medicine, today announced the
signing of an exclusive sublicense agreement and a supply agreement with Jade
Therapeutics, LLC, a developer of an ophthalmological therapeutic
sustained-release drug delivery platform. Under the agreements, BioTime will
provide Jade with clinical-grade HyStem^® hydrogels and certain patented
technology for use by Jade Therapeutics in the development of new
pharmaceutical products for ophthalmologic use. Jade plans to utilize the
hydrogels to facilitate time-release topical delivery of recombinant human
growth hormone to help heal lesions on the ocular surface. Jade Therapeutics
will retain rights to market their product upon completion of development and
obtaining marketing approval. Financial terms of the transaction were not
disclosed.

William P. Tew, Ph.D., BioTime’s Chief Commercialization Officer, stated that
“Numerous published scientific reports have established the efficacy of
HyStem^® to facilitate cell transplantation in animal models, and we currently
plan on a near-term approval to market one HyStem^®-related product,
Renevia^TM, in the EU for reconstructive and cosmetic surgery. We believe our
HyStem^® technology may also be useful as a device for the slow, timed release
of therapeutic agents such as those being developed by Jade Therapeutics, as
well as for the controlled release of proteins secreted from BioTime’s stem
cell lines.”

“The HyStem^® product line has potential utility in a wide array of human
therapeutic products,” said Michael West, Ph.D., BioTime’s CEO. “We intend to
seek additional industry partners for applications that are not core to our
own therapeutic product development.”

BioTime's HyStem^® hydrogels are proprietary biocompatible hydrogels that
mimic the human extracellular matrix (ECM), a web of molecules surrounding
cells that is essential to cellular function. When cells lacking the ECM (or
an ECM substitute) are introduced into the body, they typically die or fail to
function correctly after transplantation. BioTime's HyStem^® hydrogels are
currently being used by researchers at a number of leading medical schools in
studies of stem cell therapies for facilitating wound healing and for the
treatment of ischemic stroke, brain cancer, vocal fold scarring, and cardiac
infarct.

About Jade Therapeutics

Jade Therapeutics, LLC, a privately-held company headquartered in Park City,
Utah, focuses on the development of locally administered, sustained-release
therapeutics that improve corneal healing following damage from disease or
injury, thus improving visual function and quality of life. The Company’s
initial product is designed to deliver recombinant human growth hormone, a
well characterized biologic that has already been demonstrated to have
significant healing properties. Jade recently secured a prestigious Utah
Science Technology and Research (USTAR) grant to continue to conduct
preclinical and market research and is in negotiation with several prominent
academic and military affiliates to further product development. Examples of
ocular disorders addressed by the Company’s technology includes persistent
corneal epithelial defects and corneal damage due to dry eye disease.

About BioTime, Inc.

BioTime, headquartered in Alameda, California, is a biotechnology company
focused on regenerative medicine and blood plasma volume expanders. Its broad
platform of stem cell technologies is enhanced through subsidiaries focused on
specific fields of application. BioTime develops and markets research products
in the field of stem cells and regenerative medicine, including a wide array
of proprietary ACTCellerate^TM cell lines, HyStem^® hydrogels, culture media,
and differentiation kits. BioTime is developing Renevia^TM (formerly known as
HyStem^®-Rx), a biocompatible, implantable hyaluronan and collagen-based
matrix for cell delivery in human clinical applications. BioTime's therapeutic
product development strategy is pursued through subsidiaries that focus on
specific organ systems and related diseases for which there is a high unmet
medical need. BioTime's majority-owned subsidiary Cell Cure Neurosciences,
Ltd. is developing therapeutic products derived from stem cells for the
treatment of retinal and neural degenerative diseases. BioTime's subsidiary
OrthoCyte Corporation is developing therapeutic applications of stem cells to
treat orthopedic diseases and injuries. Another subsidiary, OncoCyte
Corporation, focuses on the diagnostic and therapeutic applications of stem
cell technology in cancer, including the diagnostic product PanC-Dx^TM
currently being developed for the detection of cancer in blood samples. ReCyte
Therapeutics, Inc. is developing applications of BioTime's proprietary induced
pluripotent stem cell technology to reverse the developmental aging of human
cells to treat cardiovascular and blood cell diseases. BioTime's subsidiary
LifeMap Sciences, Inc. markets GeneCards^®, the leading human gene database,
and is developing an integrated database suite to complement GeneCards^® that
will also include the LifeMap^TM database of embryonic development, stem cell
research, and regenerative medicine, and MalaCards, the human disease
database. LifeMap will also market BioTime research products. BioTime's lead
product, Hextend^®, is a blood plasma volume expander manufactured and
distributed in the U.S. by Hospira, Inc. and in South Korea by CJ CheilJedang
Corporation under exclusive licensing agreements. Additional information about
BioTime can be found on the web at www.biotimeinc.com.

Forward-Looking Statements

Statements pertaining to future financial and/or operating results, future
growth in research, technology, clinical development, and potential
opportunities for BioTime and its subsidiaries, along with other statements
about the future expectations, beliefs, goals, plans, or prospects expressed
by management constitute forward-looking statements. Any statements that are
not historical fact (including, but not limited to statements that contain
words such as "will," "believes," "plans," "anticipates," "expects,"
"estimates") should also be considered to be forward-looking statements.
Forward-looking statements involve risks and uncertainties, including, without
limitation, risks inherent in the development and/or commercialization of
potential products, uncertainty in the results of clinical trials or
regulatory approvals, need and ability to obtain future capital, and
maintenance of intellectual property rights. Actual results may differ
materially from the results anticipated in these forward-looking statements
and as such should be evaluated together with the many uncertainties that
affect the business of BioTime and its subsidiaries, particularly those
mentioned in the cautionary statements found in BioTime's Securities and
Exchange Commission filings. BioTime disclaims any intent or obligation to
update these forward-looking statements.

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Contact:

BioTime, Inc.
Peter Garcia
Chief Financial Officer
510-521-3390, ext 367
pgarcia@biotimemail.com
or
Judith Segall
510-521-3390, ext 301
jsegall@biotimemail.com