BioTime (BTIM.PK) Subsidiary OncoCyte Corporation Receives Second $2,000,000 Equity Tranche; BioTime Plans Additional $2,250,000 Investment
1/7/2010 8:57:35 AM
ALAMEDA, Calif.--(BUSINESS WIRE)--BioTime, Inc. (NYSE Amex:BTIM) announced that its subsidiary OncoCyte Corporation has completed the funding of the second tranche of a private equity offering through the sale of 3,000,000 shares of OncoCyte common stock for $2,000,000 to a private investor. BioTime plans to invest an additional $2,250,000 of its own cash in OncoCyte during the first quarter of 2010. OncoCyte plans to use these funds to accelerate its research efforts and to further develop its management team, staff, and business.