ALAMEDA, Calif.-- (BUSINESS WIRE)-- March 20, 2007, Preclinical studies using hESCs derived from Advanced Cell Technology, Inc.'s (OTCBB: ACTC - News) proprietary ACTcellerate technology (a means of accelerating the discovery of products from hESC) will be used as part of a study to determine if hESCs are safe and effective in animal models for heart attacks and heart failure.
The studies will be funded under a $2.52 million grant awarded to University of California, San Francisco (UCSF) scientist Randall Lee, M.D, Ph.D., Associate Professor of Medicine, from the California Institute for Regenerative Medicine. The grant is for four years of study. CIRM, the governing body of Proposition 71, manages the $3 billion California initiative.
Michael D. West, Ph.D., President and Chief Scientific Officer of ACTC, said, "We are encouraged that CIRM's funding will potentially speed therapies to the bedside for the 400,000 Americans who die suddenly from new or recurring heart attacks each year. We are pleased to provide the ACTCellerate platform in an effort to provide an alternative to heart transplantation for individuals with severely injured hearts, a treatment that is limited by the availability of donor hearts."
William M. Caldwell, IV, Chairman and CEO of ACTC, added, "We are excited about the implications this current grant has for cardiovascular disease and pleased to be working with academia to help find a solution."
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 "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 Annual Report on Form 10-KSB for the fiscal year ended December 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.
The information stated above was prepared by Advanced Cell Technology, Inc., to report the outcome of their product and reflects solely the opinion of ACT. Nothing in this statement shall be construed to imply any support or endorsement of ACT, or any of its products, by The Regents of the University of California, its officers, agents and employees.
The Investor Relations Group
Investors: "James Carbonara":mailto:firstname.lastname@example.org, 212-825-3210
Media: "Bill Douglass":mailto:email@example.com, 212-825-3210
Source: Advanced Cell Technology, Inc.