BioTime Inc. subsidiary AgeX Therapeutics Inc. raised $10 million through an equity financing to fund its operations.

BioTime, IBS Capital LLC, KIZOO Technology Capital GmbH and certain individual investors participated in the financing.

BioTime continues to own about 87% of AgeX's shares. AgeX was created in April to consolidate certain subsidiaries and programs in the field of interventional gerontology, the treatment of age-related diseases.

BioTime's co-CEO, Michael West, will serve as AgeX's CEO.