BioTime Inc. formed a new unit, AgeX Therapeutics Inc., to consolidate certain subsidiaries and programs in the field of interventional gerontology.

AgeX will be focused on applying technology related to pluripotent stem cells and telomere biology to aging and age-related disease.

The formation enables BioTime to simplify its corporate structure and operations and focus its resources on the clinical development of its two lead programs, Renevia and OpRegen.

AgeX's formation also provides the new unit greater flexibility for financing alternatives, BioTime said in a news release.