EMERYVILLE, Calif.--(BUSINESS WIRE)--BioTime, Inc. (OTCBB:BTIM) today announced that it has entered into an amendment of its Revolving Line of Credit Agreement (the “Credit Agreement”) that increases the amount of the line of credit to $1,000,000 and extends the maturity date to April 30, 2008. Loans under the line of credit will bear interest at 12% per annum. BioTime will use the line of credit for working capital purposes. The line of credit is collateralized by a security interest in BioTime’s right to receive royalty and other payments under its License Agreement with Hospira, Inc.
