Asterias Biotherapeutics, a subsidiary of BioTime, has entered a long-term lease for a research, development, and manufacturing facility in Fremont, CA for its cell therapy product development activities. The facility has approximately 44,000 sq.-ft. of existing office, lab and vivarium space. The eight-year lease begins October 1, 2014 and has two five-year extension options. Asterias will use a $4.4 million tenant improvement allowance to construct a production facility designed to satisfy U.S. and European cGMP requirements for cell banks and the company's drug product candidates. Construction of the manufacturing facility is expected to begin 2Q14.