BioTime and Subsidiary Cell Cure Neurosciences Establish Innovative Cell Therapy Manufacturing Center in Jerusalem, Israel

-Supplying OpRegen® for the Ongoing Clinical
Trial for the Treatment of Dry Age-Related Macular Degeneration-

-Center has Capability to Manufacture Additional BioTime Products-

ALAMEDA, Calif. & JERUSALEM–(BUSINESS WIRE)–BioTime, Inc. (NYSE MKT: BTX and TASE: BTX), a clinical-stage
biotechnology company developing and commercializing products addressing
degenerative diseases, and its majority-owned subsidiary, Cell Cure
Neurosciences Ltd, today dedicated a new, 800 square meter (8,600 square
feet), state-of-the-art, cGMP manufacturing center located in the
Jerusalem Bio Park on the campus of Hadassah University Hospital in

The new manufacturing center, initially to be staffed by 25-30
employees, is equipped to produce a range of cell therapies for the
treatment of various degenerative human diseases. In the near term, the
plan is to supply OpRegen® for the company’s ongoing clinical
trial program for the treatment of dry age-related macular degeneration,
or dry AMD. OpRegen provides a particular cell type in the retina,
called Retinal Pigment Epithelial cells, to replace those lost due to
the disease. Data presented at the ISOPT Clinical Symposium on December
2, 2016, indicate that OpRegen at the first dose caused no serious
adverse events in the first patient cohort and retinal imaging suggests
the presence and survival of the transplanted cells in the subretinal
space for up to one year.

“The opening of this new, innovative manufacturing center, demonstrates
our continued commitment and is the culmination of a multi-year effort
by BioTime and its subsidiary, Cell Cure Neurosciences, to manufacture
cell therapies in Israel on an industrial scale,” commented Adi Mohanty,
Co-CEO of BioTime, Inc. “Near term, this new center will manufacture
OpRegen doses to treat the patients enrolled in the clinical trial
program. Longer term, this center may manufacture additional cell
therapies as our products progress into clinical trials and then into
commercial distribution.”

Charles Irving, CEO of Cell Cure Neurosciences Ltd, stated, “The opening
of this new manufacturing center is an exciting and important
development. Our team in Israel together with BioTime is advancing the
OpRegen clinical trial program and the manufacture of OpRegen. We look
forward to continued close collaboration with BioTime as it advances
additional cell therapy programs in the near future.”

About BioTime

BioTime, Inc. is a clinical-stage biotechnology company focused on
developing and commercializing products addressing degenerative
diseases. The foundation of BioTime’s core therapeutic technology
platform is pluripotent cells. Pluripotent cells are capable of becoming
any of the cell types in the human body. Pluripotent cells have
potential application in many areas of medicine with large unmet patient
needs, including various age-related degenerative diseases and
degenerative conditions for which there presently are no cures. Unlike
pharmaceuticals that require a molecular target, therapeutic strategies
based on the use of pluripotent cells are generally aimed at
regenerating or replacing affected cells and tissues, and therefore may
have broader applicability than pharmaceutical products.

BioTime common stock is traded on the NYSE MKT and TASE under the symbol
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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. Statements pertaining to future financial and/or
operating results, future growth in research, technology, clinical
development, and potential opportunities for BioTime, Inc. and its
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beliefs, goals, plans, or prospects expressed by management constitute
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Forward-looking statements involve risks and uncertainties, including,
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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, Inc. and its
subsidiaries, particularly those mentioned in the cautionary statements
found in more detail in the “Risk Factors” section of its Annual Reports
on Form 10-K and Quarterly Reports on Form 10-Q filed with the SEC
(copies of which may be obtained at
Subsequent events and developments may cause these forward-looking
statements to change. BioTime, Inc. 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.

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