BioTime, Inc. Announces Record Date, Distribution Ratio, and Distribution Date for Distribution of Shares of Subsidiary OncoCyte Corporation ALAMEDA, Calif.--(BUSINESS WIRE)

Inc. Announces Record Date, Distribution Ratio, and Distribution Date

for Distribution of Shares of Subsidiary OncoCyte Corporation

ALAMEDA, Calif.--(BUSINESS WIRE)--December 11, 2015--BioTime, Inc. (NYSE

MKT and TASE: BTX), a clinical-stage regenerative medicine company with

a focus on pluripotent stem cell technology, today announced that its

Board of Directors has set the record date, the distribution ratio, and

expected distribution date for the distribution of a portion of the

shares of common stock of BioTime's subsidiary OncoCyte Corporation

("OncoCyte") to BioTime shareholders. The record date for determining

holders of BioTime common shares entitled to receive shares of OncoCyte

common stock in the distribution will be the close of business on

BioTime shareholders will receive one share of OncoCyte common stock for

every 20 BioTime common shares held as of the close of business on the

record date. The distribution will be made in book-entry form. BioTime

expects the distribution to occur on December 31, 2015. BioTime

shareholders will not be required to do anything to receive the OncoCyte

distribution, meaning that they will not have to surrender or exchange

BioTime common shares in order to receive their OncoCyte shares.

Any holder of record who sells their shares of BioTime on or before the

distribution date of December 31st will be selling their entitlement of

OncoCyte shares to the buyer of their BioTime shares. Holders are

encouraged to talk to their financial advisor before selling their

After this distribution of OncoCyte shares, BioTime's ownership will be

reduced from approximately 76.4% to approximately 58.6%.

Currently, there is no trading market for OncoCyte common stock.

However, OncoCyte plans to apply to list its common stock for trading on

the NYSE MKT under the symbol OCX. In the event that a listing

application is not approved, OncoCyte plans to arrange for the trading

of its common stock on the OTC Bulletin Board market no later than the

completion of the distribution.

Completion of the distribution of OncoCyte shares to BioTime

shareholders is subject to the satisfaction of certain conditions,

including that a Registration Statement on Form 10 filed by OncoCyte

with the Securities and Exchange Commission is declared effective.

OncoCyte is engaged in the development of new "liquid biopsy" diagnostic

tests for cancer based on analyzing patient blood or urine samples for

specific gene or protein markers indicative of the presence of

particular types of cancer. OncoCyte is presently developing diagnostic

tests for lung cancer, breast cancer, and bladder cancer. For more

information about OncoCyte, please visit www.OncoCyte.com.

More information about OncoCyte and the planned share distribution can

be found in the Information Statement filed as an exhibit to OncoCyte's

Form 10 Registration Statement filed with the SEC on November 23, 2015,

which is available on the Investor Relations page of BioTime's website: www.biotimeinc.com

and the website maintained by the SEC at www.sec.gov.

This press release does not constitute an offer to sell or a

solicitation of an offer to buy any OncoCyte securities. The

distribution of OncoCyte common stock by BioTime will be made only in

those states and other jurisdictions where permitted or not prohibited

BioTime, Inc., a pioneer in regenerative medicine, is a clinical-stage

biotechnology company. BioTime and its subsidiaries are leveraging their

industry-leading experience in pluripotent stem cell technology and a

broad intellectual property portfolio to facilitate the development and

use of cell-based therapies and gene marker-based molecular diagnostics

for major diseases and degenerative conditions for which there presently

are no cures. The lead clinical programs of BioTime and its subsidiaries

include OpRegen , currently in a Phase I/IIa

trial for the treatment of the dry form of age-related macular

degeneration; AST-OPC1, currently in a Phase I/IIa trial for spinal cord

injuries; Renevia , currently in a pivotal trial in Europe as an

injectable matrix for the engraftment of transplanted cells to treat

HIV-related lipoatrophy; and cancer diagnostics, nearing the completion

of initial clinical studies for the detection of lung, bladder, and

breast cancers. AST-VAC2, a cancer vaccine, is in the pre-clinical trial

BioTime's subsidiaries include the publicly traded Asterias

Biotherapeutics, Inc. (NYSE MKT: AST), developing pluripotent stem

cell-based therapies in neurology and oncology, including AST-OPC1 and

AST-VAC2; Cell Cure Neurosciences Ltd., developing stem cell-based

therapies for retinal and neurological disorders, including OpRegen ;

OncoCyte Corporation, developing cancer diagnostics; LifeMap Sciences,

Inc., developing and marketing an integrated online database resource

for biomedical and stem cell research; LifeMap Solutions, Inc., a

subsidiary of LifeMap Sciences, developing mobile health (mHealth)

products; OrthoCyte Corporation, developing therapies to treat

orthopedic disorders, diseases, and injuries; ReCyte Therapeutics, Inc.,

developing therapies to treat a variety of cardiovascular and related

ischemic disorders; and Ascendance Biotechnology, Inc. which

manufactures and sells proprietary products and services that assay new

drug candidates for potential toxicity, including HepatoPac

and HepatoMune , and other products for use as

BioTime common stock is traded on the NYSE MKT and TASE under the symbol

BTX. For more information, please visit www.biotimeinc.com or

connect with the company on Twitter, LinkedIn, Facebook, YouTube,

Dan L. Lawrence, 510-775-0510

Michael Polyviou, 646-445-4800

Gotham Communications, LLC

Bill Douglass, 646-504-0890