Alameda, CA, May, 15, 2006 - Advanced Cell Technology, Inc. (OTCBB:ACTC) announced timetables for filing Investigational New Drug ("IND”) applications for each of its key therapeutic programs which include its Retinal Pigment Epithelium ("RPE”) Program, Hemangioblast Program and Dermal Program. Based on the Company's preclinical studies to date, the Company expects to file its initial IND application for its RPE Program for the treatment of macular degeneration in the second half of 2007. Additionally, the Company plans to file IND applications in 2008 for both its Hemangioblast and Dermal Programs. The Company is currently conducting preclinical studies for its Hemangioblast Program for the treatment of various cardiovascular diseases including heart disease, coronary artery disease and stroke, as well as ischemia of the eye and limbs. The Company's Dermal Program is focusing on surgical applications and wound repair. The Company bases these timetables on its preclinical studies to date, as well as its current plans for additional preclinical studies. While these timetables represent the Company's expectations for the filing of its IND applications, the Company recognizes that these timetables are dependent on the data generated in its future preclinical studies for each of its key therapeutic programs. The Company plans a series of informal and formal interactions with the FDA to further validate these timelines, initially for the RPE program.
William Caldwell, CEO of Advanced Cell Technology said, "I am very proud of our scientific team for their accomplishments in pushing each of these therapeutic programs forward towards IND submission. We are completely focused on driving our key therapeutic programs into the clinic and believe we will be among the first to treat patients with hESC-derived cell therapies.”
"The promise - and challenges - associated with moving embryonic stem cell research into the clinic are enormous,” said Robert Lanza, MD, Vice President of Research and Scientific Development. "We are excited to finally see our scientific research being translated into therapies that could potentially help millions of patients suffering from a wide range of serious and often life-threatening conditions.”
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-QSB for the quarter ended March 31, 2006.
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.
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