Commitments and Contingencies

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies [Abstract]

Commitments and Contingencies

15. Commitments and Contingencies

On August 17, 2011, BioTime amended its lease agreement dated October 22, 2010 for its principal office and laboratory facilities located at 1301 Harbor Bay Parkway, Alameda, California to accommodate expanded space.  The amended term commenced August 1, 2011 and expires on February 29, 2016 as per the original lease.  BioTime has an option to extend the lease for one additional term of five years, with the rent to be determined at the time of the extension based on the prevailing market rate for comparable facilities.  BioTime increased the amount of laboratory and office space from approximately 17,000 square feet to approximately 19,000 square feet.  Base rent will be $28,142 per month and will increase by three percent each year.  In addition to the base rent, BioTime pays a pro rata share of real property taxes and certain costs associated to the operation and maintenance of the building in which the leased premises are located.

On April 4, 2011, LifeMap entered into a new lease for office space, and on October 3, 2011 entered into a second new lease for additional office space in Tel Aviv, Israel.  The total leased area is approximately 1,500 square feet.  Total base rent under the two leases will be approximately ILS 15,000 ($4,200) per month.  Both leases expire on April 30, 2012.  In addition to base rent, LifeMap pays a pro rata share of real property taxes and certain costs related to the operation and maintenance of the building in which the leased premises are located.

On January 12, 2011, ESI renewed its annual lease for office space of 590 square feet, and on October 1, 2011 renewed its annual lease for laboratory space of 1,290 square feet in the Biopolis, a research and development park in Singapore devoted to the biomedical sciences.  ESI paid approximately $6,700 as base monthly rent for the laboratory space and $1,600 as base monthly rent for the office space.  In addition to base rent, ESI pays a pro rata share of real property taxes and certain costs related to the operation and maintenance of the building in which the leased premises are located.

Cell Cure Neurosciences leases approximately 290 square feet of office and laboratory space located at Hadasa Ein Carem, in Jerusalem, Israel.  Base monthly rent for this facility is approximately $9,600.  In addition to base rent, Cell Cure Neurosciences pays a pro rata share of real property taxes and certain costs related to the operation and maintenance of the building in which the leased premises are located.  The lease expires in 2014.

Rent expenses totaled $1,058,170, $656,883, and $682,982 for the years ended December 31, 2011, 2010, and 2009, respectively.  Remaining minimum annual lease payments under the various operating leases for the year ending after December 31, 2011 are as follows:

Year Ending December 31,	Minimum lease payments
2012	$	586,010
2013		492,605
2014		427,212
2015		381,044
2016		32,625
Thereafter		-