BioTime and its Subsidiary OrthoCyte Corporation Provides Update on Preclinical Development of OTX-CP07

BioTime, Inc.

announced today that BioTime's CEO Michael West, Ph.D. will provide and update the development of OTX-CP07 by BioTime's subsidiary OrthoCyte Corporation at an investor meeting in New York City. OTX-CP07 is a combination product with human embryonic cartilage progenitors manufactured from human embryonic stem cells formulated with BioTime's proprietary cell delivery device ReneviaTM. Dr. West will describe studies underway at OrthoCyte that have currently identified progenitors to eight diverse cartilage types of the human body, as well as diverse tendon, bone, and muscle progenitors that may be useful in orthopedic research and the development of novel regenerative therapeutics. Dr. West will also show a video presentation from OrthoCyte's Chief Scientific Officer, Arnold Caplan, Ph.D., who is also Director of the Skeletal Research Center at Case Western Reserve University. In the video, Dr. Caplan discusses the significance of the potential use of definitive progenitors of human cartilage for the repair of osteoarthritis, a disease afflicting an estimated 27 million Americans.