BioTime Announces 2008 Year-End Results

ALAMEDA, Calif.--(BUSINESS WIRE)--On March 23, 2009 BioTime, Inc. (OTCBB: BTIM) reported financial results for the fiscal year ended December 31, 2008. Total revenue for the year ended December 31, 2008 was $1,503,792 compared to $1,046,121 for the year ended December 31, 2007. BioTime received $1,203,453 in royalties from Hextend® sales by Hospira, Inc. for the year ended December 31, 2008, compared to $776,679 in 2007. This 55% increase in royalties is attributable to an increase in Hextend sales, which was largely due to an increase in both sales to the military and sales to hospitals, which were augmented by an increase in the average unit sales price to hospitals.