BioTime receives second installment payment of $10.8M from Juvenescence

BioTime announced that it has received the second installment payment of $10.8M pursuant to the previously-announced sale of shares of AgeX Therapeutics to Juvenescence. Following the completion of the planned distribution of AgeX shares to BioTime shareholders, BioTime will retain an approximately 4.9% ownership in AgeX. Notably, the milestones and royalties in the current licensing agreement between BioTime and AgeX were not changed as part of the Juvenescence transaction.
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