BioTime, Inc. Announces Pricing of $25.0 Million Public Offering of Common Stock

BioTime, Inc. (“BioTime”) (NYSE American and TASE: BTX), a late stage clinical biotechnology company focused on developing and commercializing products addressing degenerative diseases, today announced the pricing of an underwritten public offering of 9,615,385 shares of its common stock at a public offering price of $2.60 per share. The gross proceeds to BioTime from this offering are expected to be approximately $25.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by BioTime. The offering is expected to close on or about October 17, 2017, subject to customary closing conditions. BioTime has also granted to the underwriters a 30-day option to purchase from it up to an aggregate of an additional 1,442,308 shares of its common stock, to cover over allotments, if any.

BioTime intends to use the net proceeds from this offering for general corporate purposes, including, without limitation, to fund clinical trials, to finance research and develop programs, and for general working capital.

Raymond James & Associates, Inc. is acting as the sole book-running manager for the offering. Ladenburg Thalmann & Co. Inc., Chardan and LifeSci Capital LLC are acting as co-managers. Lake Street Capital Markets is acting as a financial advisor for the offering.

The shares will be offered pursuant to an effective registration statement on Form S-3 (File No. 333-217182) that was previously filed with the Securities and Exchange Commission (the “SEC”) and became effective on May 5, 2017. A preliminary prospectus supplement and the related prospectus have been filed with the SEC and are available on the SEC’s website at www.sec.gov. A final prospectus supplement and the related prospectus will be filed with the SEC and available on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by telephone at (800) 248-8863, or e-mail at prospectus@raymondjames.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About BioTime, Inc.

BioTime is a late stage clinical biotechnology company focused on developing and commercializing products addressing degenerative diseases. The Company’s current clinical programs are targeting three primary sectors: aesthetics, ophthalmology and cell and drug delivery.

Forward-Looking Statements

Certain statements contained in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this press release regarding the anticipated amount and use of the proceeds of the offering and the completion of the public offering constitute forward-looking statements that involve risks and uncertainties, including, without limitation, risks and uncertainties related to market conditions and the satisfaction of customary closing conditions related to the proposed public offering. There can be no assurance that BioTime will be able to complete the proposed public offering. Additional information on risks facing BioTime, its subsidiaries and its affiliates can be found in the “Risk Factors” section of its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) and in the preliminary prospectus supplement related to the proposed offering to be filed with the SEC on or about the date hereof (copies of which may be obtained at www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. BioTime specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171013005344/en/

Investor Contact:BioTimeDavid Nakasone, 510-871-4188DNakasone@biotimeinc.comorMedia Contact:JQA Partners, Inc.Jules Abraham, 917-885-7378jabraham@jqapartners.com

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