On December 31, 2015 BioTime, Inc. (NYSE MKT: BTX), a clinical-stage regenerative medicine company with a focus on pluripotent stem cell technology, has completed its previously reported distribution of approximately 4.75 million shares of common stock of its subsidiary OncoCyte Corporation ("OncoCyte") to BioTime shareholders (Press release, BioTime, DEC 31, 2015, View Source;p=RssLanding&cat=news&id=2125490 [SID:1234508648]). Regular way trading of OncoCyte common stock on the NYSE MKT is expected to begin on January 4, 2016 under the symbol OCX. The distributed shares represent approximately 18.69% of the outstanding shares of OncoCyte. As a result of the distribution of the shares, BioTime’s ownership of OncoCyte has been reduced from approximately 76.4% to approximately 58.55%.

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OncoCyte is primarily focused on the development of novel, non-invasive liquid biopsy diagnostic tests for the early detection of cancer. BioTime shareholders receiving OncoCyte stock will receive an Information Statement containing details regarding the distribution of OncoCyte common stock and OncoCyte’s business and management. The Information Statement is part of a Form 10 filed by OncoCyte with the Securities and Exchange Commission that may be found at the Commission’s website www.sec.gov or at OncoCyte’s website at www.oncocyte.com.

"This distribution is another example of the BioTime’s Board of Directors strategy to provide shareholder value from our assets while we focus our operations on the Company’s clinical-stage regenerative therapeutic candidates based on pluripotent stem cell technology," said Adi Mohanty, BioTime’s Co-Chief Executive Officer. "We look forward to participating as a major shareholder in the progress of OncoCyte as the Company’s management advances development of its molecular diagnostic products toward commercialization."

Any BioTime shareholder who sells their BioTime shares on or before December 31, 2015 will be selling their entitlement to receive OncoCyte shares to the buyer of their BioTime shares. BioTime shareholders are encouraged to speak to their financial advisor before making any financial decisions.