On May 13, 2013, BioTime, Inc.'s Board of Directors named Pedro Lichtinger Chairman of the Compensation Committee and added Stephen C. Farrell to its Nominating/Corporate Governance Committee. Mr. Lichtinger also stepped down from the Audit Committee in conjunction with his assuming the Chair of the Compensation Committee, and the Board appointing Franklin Berger to the Audit Committee. On May 13, 2013, Arnold I Burns informed the company's Board of Directors that he was retiring from the Board due to health concerns. Mr. Burns had served on the company's Audit Committee, Nominating/Corporate Governance Committee, and Compensation Committee, of which he was Chairman.

BioTime, Inc. announced that Franklin M. Berger, CFA, 63, has been appointed to its Board of Directors. Mr. Berger currently serves as a director of several biotechnology companies both public and private, and as a consultant to major biopharmaceutical firms, mid-capitalization biotechnology companies, specialist asset managers and venture capital firms. In October 2011, Mr. Berger accepted the position of Senior Advisor to PDL BioPharma, Inc. He currently serves on the boards of three public biotechnology companies, Seattle Genetics, Thallion Pharmaceuticals, and Bellus Health, Inc. He also serves on the board of Five Prime Therapeutics, Inc. and he has previously served on the boards of several other public and private biotechnology companies. Mr. Berger's career in the investment industry included roles in investment management and over twelve years as a leading equity research analyst covering biotechnology companies, most recently as Managing Director, U.S. Equity Research, at J.P. Morgan Securities, Inc. from 1998 to 2003. Also, Arnold I. Burns, 83, retired from the company's Board of Directors. Mr. Burns notified the company's Board that due to health concerns, he could no longer continue to productively serve as a director.

BioTime, Inc. announced unaudited consolidated financial results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenue of $614,473 as compared to $652,214 for the same period of 2012. Total net revenues were $431,724 against $631,946 a year ago. Loss from operations was $8,379,909 against $5,915,540 a year ago. Net loss attributable to the company was $7,719,263 or $0.15 per basic and diluted share against $4,973,342 or $0.10 per basic and diluted share a year ago.