BioTime Inc. (BTX) Subsidiary Receives $10 Million in Equity Financing
BioTime Inc. is a biotechnology company that, through various subsidiaries, develops and markets products in the field of regenerative medicine and blood plasma volume expanders. The company announced today that one of its majority-owned subsidiaries, OncoCyte Corporation, has received a new round of equity financing to fund the expansion of its development of novel proprietary diagnostics and therapeutics for cancer in humans. The financing includes $4 million in cash ($3 million from an outside investor) combined with $6 million worth of BioTime common shares. OncoCyte's products for the diagnosis and treatment of cancer are based on embryonic stem cell-derived technology.…