Access to Federal Funding Could Accelerate Clinical Development
Online PR News – 12-June-2010 – – WORCESTER, MA – Advanced Cell Technology, Inc. ("ACT"; OTCBB: ACTC) announced today that human embryonic stem cell (hESC) line MA135 was unanimously approved for federal funding at the 100th Meeting of the Advisory Committee to the Director (ACD) National Institutes of Health (NIH). In addition to MA135, seven additional stem cell lines derived at ACT are currently under review by the NIH. Five of these lines were produced without using ACT's proprietary single-blastomere "embryo-safe" technology. The federal funding could accelerate the company's clinical activities.
There were previously only 67 hESC lines eligible for use in NIH-funded research. "We are extremely pleased with the NIH’s decision to add this line to their registry," said Robert Lanza, M.D., Chief Scientific Officer of ACT. "This decision facilitates the use of embryonic stem cells as a potential source of replacement cells to treat a wide range of human diseases".
"This approval is a watershed moment for the company, because it provides the company with the opportunity to pursue non-dilutive federally funded research programs utilizing a stem cell line derived solely by technology that we deployed," said William M. Caldwell IV, Chairman and Chief Executive Officer of ACT. "We are optimistic that we will secure approval for additional lines using our single-cell blastomere technology in the coming months as the NIH finalizes their Proposed Rule Making expanding the definition of what will constitute a stem cell line that is eligible for federal funding. We applaud the NIH for its ongoing efforts to make more stem cell lines available to the scientific community."
About Advanced Cell Technology, Inc.
Advanced Cell Technology, Inc. is a biotechnology company applying cellular technology in the field of regenerative medicine. For more information, visit http://www.advancedcell.com.
Statements in this news release regarding future financial and operating results, future growth in research and development programs, potential applications of our technology, opportunities for the company and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: limited operating history, need for future capital, risks inherent in the development and commercialization of potential products, protection of our intellectual property, and economic conditions generally. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in the company's periodic reports, including the report on Form 10-K for the year ended December 31, 2009.
Forward-looking statements are based on the beliefs, opinions, and expectations of the company's management at the time they are made, and the company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change.