Zohar Loshitzer, CEO of Presbia, and Gregory D. Perry, EVP and CFO of ImmunoGen, Bring Expertise in Commercializing Emerging Medical Technologies, Fundraising and Partnering
MARLBOROUGH, Mass. — December 6, 2011 – Advanced Cell Technology, Inc. (“ACT”; OTCBB: ACTC), a leader in the field of regenerative medicine, announced today that Gregory D. Perry and Zohar Loshitzer have been appointed to the company’s Board of Directors, effective today.
Mr. Perry, 51, is executive vice president and chief financial officer (CFO) of ImmunoGen, Inc., a publicly-traded biotechnology firm developing antibody-based anticancer therapeutics. Mr. Loshitzer, 54, is chief executive officer of Presbia, an ophthalmic-device firm, and is principal at Orchard Capital, a private equity firm.
“Greg and Zohar are a highly-valued addition to our Board of Directors,” said Gary Rabin, chairman and CEO of ACT. “Greg’s experience in fundraising and facilitating partnering deals in life sciences and Zohar’s background in successfully commercializing emerging technologies in medicine and other fields, as well as his background in finance, will be invaluable for ACT as there are many major milestones in front of us.”
Prior to joining ImmunoGen in January 2009, Mr. Perry was CFO of Elixer Pharmaceuticals, where he was deeply involved in partnering and fundraising, and before that he was CFO of Domantis, Ltd., a biotechnology company that was acquired by GlaxoSmithKline in 2006. Prior to that, he was senior vice president of finance and CFO of Transkaryotic Therapies, Inc. (TKT) until its acquisition by Shire plc. in 2005, and before that was with PerkinElmer and General Electric.
Mr. Loshitzer previously was president, CEO and founder Universal Telecom Services (UTS). He is a co-founder of J2 Global Communications, a Nasdaq-listed company, and co-founder and former managing director of Life Alert Emergency Response, Inc. He currently serves as a managing director of Orchard Telecom, Inc., and as a board member of Environmental Solutions Worldwide Inc. (ESW), a publicly-traded company engaged through its wholly-owned subsidiaries in the design and development of proprietary catalytic emission conversion, control and support products and technologies for the international transportation, construction and utility markets. He has also served as a board member to MAI Systems Corporation, an AMEX-listed company.
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 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, 2010. 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. 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. There can be no assurance that the Company’s clinical trials will be successful.
CEOcast, Inc., James Young, 212-732-4300
ACT Corporate Communications, Bill Douglass, 646-450-3615
Russo Partners, Martina Schwarzkopf, Ph.D., 212-845-4292