BioTime Announces Second Quarter 2011 Financial Results and Corporate Developments

ALAMEDA, Calif.--(BUSINESS WIRE)--BioTime, Inc. (NYSE Amex: BTX), a biotechnology company that develops and markets products in the field of regenerative medicine, today reported financial results for the quarter ended June 30, 2011 and provided an update on corporate developments. For the quarter ended June 30, 2011, total revenue (including royalties from product sales and other revenue, revenue recognition of deferred license fees and grant income) was $756 thousand, up 11% from $680 thousand for the same period one year ago. The increase in revenue year-over-year in the second quarter 2011 is primarily attributable to a significant increase in research product sales and an increase in grant income. The increase in second quarter revenue was offset, to a degree, by a decrease in royalties from the sale of Hextend®, BioTime’s blood plasma expander product, and license fees related to Hextend and other plasma expander products under development.