Alameda, CA, April, 18, 2006 - Advanced Cell Technology, Inc. (OTCBB:ACTC) announced today that it is in the final phase of validating its first Good Manufacturing Practices ("GMP”) laboratory in its facility in Worcester, Massachusetts. The Company expects to complete the validation of its new 800 square foot GMP laboratory in April and to commence scientific work under GMP conditions in early May.
The initial focus of the Company's scientific work in the new laboratory will be the derivation and differentiation of human embryonic stem (ES) cells under GMP conditions to be used in pre-clinical testing and, then later, in Phase I human clinical trials. The Company expects to initially derive human ES cells and then differentiate those ES cells into retinal pigment epithelium (RPE) cells and hemangioblast cells to support its therapeutic programs. These programs specifically target age-related diseases of the eye such as macular degeneration and cardiovascular diseases such as coronary artery disease and congestive heart failure. The Company's scientific team has previously derived and differentiated both retinal pigment epithelium (RPE) and hemangioblast cell types, and is now looking forward to deriving these cells under GMP conditions for additional preclinical testing and, ultimately, human clinical trials.
William Caldwell, CEO of Advanced Cell Technology said, "The completion of our first GMP laboratory represents a significant development milestone for the Company. By deriving our target cell types under GMP we can now accelerate our therapeutic programs to complete pre-clinical animal testing and begin taking aim at Phase I human clinical trials.”
"Completion of this GMP facility in Worcester is the result of a team effort," commented Dr. Robert Lanza, VP of Research & Scientific Development. "We look forward to using this facility to drive our new embryonic stem cell therapies to the clinic."
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.
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.
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.
Investor Relations: Vince Daniels
Media Relations: Judy Katz
The Investor Relations Group