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BioTime to Present at 2019 Biotech Showcase Investor Conference on January 7, 2019

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BioTime,
Inc.
(NYSE:BTX), a clinical-stage biotechnology company
focused on degenerative diseases, today announced that Brian M. Culley,
Chief Executive Officer of BioTime will be presenting at the 2019
Biotech Showcase Investor Conference
on January 7th, 2019
at 9am Pacific Time at the Hilton San Francisco Union Square Hotel in
the Franciscan A Ballroom in San Francisco, CA.

"Our vision is to build BioTime into the premiere cell therapy company,
pioneering whole-cell transplants to address unmet medical conditions
such as macular degeneration and spinal cord injury1, which
have not yielded to small molecule approaches," stated Brian M. Culley,
Chief Executive Officer of BioTime. "Awareness of our mission is vital
and our presentation at Biotech Showcase is one of our first
opportunities to share our updated plans with a broad audience and build
support for BioTime's short- and long-term objectives. Our recent
transactions involving AgeX Therapeutics Inc. ("AGE") demonstrates our
ability to convert intellectual property from our platform into capital
for our core programs. And pending a successful close of the proposed
acquisition of Asterias Biotherapeutics, Inc. ("AST"), we will broaden
our pipeline next quarter with two additional clinical-stage cell
therapy assets. We are excited about our future and believe that
delivering on our stated milestones at each stage of corporate and
clinical development and increasing our visibility through active and
strategic engagements will make BioTime a highly successful company."

Interested parties can access a live audio webcast on the Events
and Presentations
section of BioTime's website. An archived
presentation will be available on the website for 30 days. The 2019
Biotech Showcase
is an investor and networking conference devoted to
providing private and public biotechnology and life sciences companies
with an opportunity to present to, and meet with, investors and
executives in one place during the course of the 37th
Annual J.P. Morgan Annual Healthcare Conference
. Interested parties
may follow @EBDGroup
on Twitter and use #BiotechShowcase for the latest conference updates.

About BioTime, Inc.

BioTime is a clinical-stage biotechnology company focused on the
development and commercialization of novel therapies for the treatment
of degenerative diseases. BioTime's pipeline is based on two platform
technologies which encompass cell replacement and cell/drug delivery.
BioTime's lead cell replacement product candidate is OpRegen®,
a retinal pigment epithelium transplant therapy in Phase 2 development
for the treatment of dry age-related macular degeneration, the leading
cause of blindness in the developed world. BioTime's lead cell delivery
clinical program is Renevia®, an investigational medical
device being developed as an alternative for whole adipose tissue
transfer procedures. BioTime common stock is traded on the NYSE American
and TASE under the symbol BTX. For more information, please visit www.biotime.com or
connect with the company on Twitter,
LinkedIn,
FacebookYouTube,
and Google+.
To receive ongoing BioTime corporate communications, please click on the
following link to join the Company's email alert list: http://news.biotime.com.

Additional Information and Where to Find It

This communication is being made in respect of the proposed business
combination involving BioTime, Inc. and Asterias Biotherapeutics, Inc.
In connection with the proposed transaction, BioTime and Asterias plan
to file documents with the U.S. Securities and Exchange Commission (the
"SEC"), including the filing by BioTime of a Registration Statement on
Form S-4 containing a Joint Proxy Statement/Prospectus and each of
BioTime and Asterias plan to file with the SEC other documents regarding
the proposed transaction. INVESTORS AND SECURITY HOLDERS OF BIOTIME AND
ASTERIAS ARE URGED TO CAREFULLY READ THE JOINT PROXY
STATEMENT/PROSPECTUS (WHEN AVAILABLE) AND OTHER DOCUMENTS FILED WITH THE
SEC BY BIOTIME AND ASTERIAS BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security
holders may obtain free copies of these documents (when they are
available) and other documents filed with the SEC at the SEC's web site
at www.sec.gov
and by contacting BioTime Investor Relations at (510) 871-4188 or
Asterias Investor Relations at (510) 456-3892. Investors and security
holders may obtain free copies of the documents filed with the SEC on
BioTime's website at www.biotimeinc.com
or Asterias' website at www.asteriasbiotherapeutics.com
or the SEC's website at www.sec.gov.
BioTime, Asterias and their respective directors and executive officers
may be deemed participants in the solicitation of proxies with respect
to the proposed transaction. Information regarding the interests of
these directors and executive officers in the proposed transaction will
be included in the Joint Proxy Statement/Prospectus described above.
Additional information regarding the directors and executive officers of
BioTime is also included in BioTime's proxy statement for its 2018
Annual Meeting of Shareholders, which was filed with the SEC on March
29, 2018, and additional information regarding the directors and
executive officers of Asterias is also included in Asterias' proxy
statement for its 2018 Annual Meeting of Stockholders, which was filed
with the SEC on April 30, 2018, respectively.

No Offer or Solicitation

This document does not constitute an offer to sell or the solicitation
of an offer to buy any securities or a solicitation of any vote or
approval nor shall there be any sale of securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by means of
a prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.

Forward-Looking Statements

Certain statements in this communication, including statements relating
to the Merger Agreement, the Merger and the other transactions
contemplated by the Merger Agreement and the combined company's future
financial condition performance and operating results, strategy and
plans, including the design, status , funding and timing of the clinical
trials and further development and potential of the product candidates
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 giving BioTime's and Asterias'
expectations or predictions of future financial or business performance
or conditions. These forward-looking statements are subject to numerous
assumptions, risks and uncertainties which change over time.
Forward-looking statements speak only as of the date they are made and
we assume no duty to update forward-looking statements. In addition to
factors previously disclosed in BioTime's and Asterias' reports filed
with the SEC and those identified elsewhere in this communication, the
following factors, among others, could cause actual results to differ
materially from forward-looking statements and historical performance:
the ability to meet closing conditions to the Merger, including
requisite approval by BioTime's and Asterias' stockholders, on a timely
basis or at all; delay in closing the Merger; the ultimate outcome and
results of integrating the operations of BioTime and Asterias and the
ultimate ability to realize synergies and other benefits; business
disruption following the Merger; the availability and access, in
general, of funds to fund operations and necessary capital expenditures.
More information on potential factors that could affect our results is
included from time to time in the SEC filings and reports of BioTime and
Asterias, including the risks identified under the sections captioned
"Risk Factors" in BioTime's quarterly report on Form 10-Q filed with the
SEC on November 8 and Asterias' annual report on Form 10-K for the year
ended December 31, 2017 filed with the SEC on March 15, 2018, and
Asterias' quarterly report on Form 10-Q for the quarter ended September
30, 2018, which Asterias expects to file on November 9, 2018.

1 Bio Time does not currently own this product and this
discussion assumes the closing of the Merger, which is subject to
certain closing conditions, including obtaining the approval of Bio Time
shareholders and Asterias stockholders.

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