Alameda, CA, April 27, 2006 - Advanced Cell Technology, Inc. (OTCBB:ACTC) has entered into a collaboration agreement with Xgene Corporation of Sausalito, CA, to assess the performance of Advanced Cell Technology's dermatology technologies. In the collaboration, Advanced Cell Technology will provide the human embryonic stem cell-derived skin cells, and Xgene will provide its technology for reconstituting skin from cultured cells, to achieve the mutually beneficial development of advanced in vitro human skin models. The goal of the collaboration is to test the functionality of embryonic skin cells in regenerating skin for numerous applications in medicine.
"Our expertise in assembling complex multi-tissue constructs from cultured cells offers a solid platform for realizing the therapeutic potential of early progenitor cells, beginning with dermal progenitors.” said Warren Hoeffler, Ph.D., Xgene's President and CEO. "The potential of progenitor cells for healing wounds, and restoring lost functionality to patient skin, while minimizing scarring, could be important for the future practice of dermatology.”
"We anticipate that our collaboration with Xgene and the use of their proprietary human skin equivalent technology will accelerate the development of our dermatology products,” said Michael West, Ph.D., President and Chief Scientific Officer of Advanced Cell Technology.
William Caldwell, CEO of Advanced Cell Technology said, "We believe that Dr. Hoeffler's vast experience while at Stanford University School of Medicine, Department of Dermatology, has allowed him to commercialize technology that is recognized by the biotech, big pharma and cosmetic industries as revolutionary in nature. We look forward to commercializing with Xgene a product derived from human ES cells.”
About Advanced Cell Technology, Inc.
Advanced Cell Technology, Inc. is a biotechnology company applying embryonic stem cell technology in the emerging field of regenerative medicine. The company operates facilities in Alameda, California and Worcester, Massachusetts. For more information about the company, please visit "http://www.advancedcell.com":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-KSB for the fiscal year ended December 31, 2005.
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