BioTime Provides Additional Information on Acquisition of Promissory Notes in Connection with Planned Acquisition of ES Cell International Pte Ltd.

ALAMEDA, Calif.--(BUSINESS WIRE)--BioTime, Inc. (NYSE Amex: BTIM) announced earlier today that it plans to acquire ES Cell International Pte Ltd, a Singapore private limited company (“ESI”). In its press release earlier today, BioTime stated that it will “acquire all of ESI’s approximately $35 million of debt and accrued interest. ESI has no significant liabilities other than the debt obligations that BioTime will own after the acquisition.”