AgeX Therapeutics Inc. closed the sale of 2 million shares to Juvenescence Ltd., raising $5 million.
The Alameda, Calif.-based company, a unit of BioTime Inc., said the funds will help finance the development of its programs into 2020. The company is developing treatments for aging and age-related diseases.
Juvenescence, which invests in companies developing therapies for aging and age-related diseases, now owns about 7% of AgeX.
BioTime owns about 80.6% of AgeX following the sale.
