Company Continues to Leverage IP Portfolio
LOS ANGELES-- (BUSINESS WIRE)--Advanced Cell Technology, Inc. (OTCBB: ACTC - News) announced today that it has entered into an agreement with Pharming Group N.V. giving Pharming an exclusive, global license to non-human use of certain patents associated with but not limited to oocyte activation patents held by Advanced Cell Technology. According to the terms of the license agreement, Pharming will pay Advanced Cell Technology a one-time license fee. Prior, Pharming had a nonexclusive license to these patents. Based in the Netherlands, Pharming Group N.V. is focused on developing treatments for genetic and aging diseases, specialty products for surgical indications, and intermediates for various applications and nutritional products.
Advanced Cell Technology has been focused on building a broad intellectual property portfolio since its inception. In early 2007, the company strengthened its IP portfolio by acquiring the intellectual property assets of its former competitor Infigen, Inc. relating to somatic cell nuclear transfer, parthenogenesis, and other related technologies. Upon the closing of its Mytogen, Inc. acquisition later that year, ACT absorbed Mytogen's patent portfolio as well. Advanced Cell Technology now owns or has exclusive licenses to over 380 patents and patent applications worldwide in the field of regenerative medicine and stem cell therapy. In addition, ACT has non-exclusive rights to a portfolio of patents and patent applications that support its core intellectual property.
"We are pleased to be able to monetize our intellectual property portfolio in a number of ways,” stated William M. Caldwell IV, Chairman and CEO of Advanced Cell Technology. "Our intellectual property and the research and science that our employees perform remain the foundation of our company. Using this foundation as a basis for developing commercial therapeutics and entering into licensing agreements allows us to finance the company in profitable and nondilutive manners. We plan on continuing to leverage our IP portfolio.”
About Advanced Cell Technology, Inc.
Advanced Cell Technology, Inc. is a biotechnology company applying cellular technology in the emerging field of regenerative medicine. The company operates facilities in California and Massachusetts.
For more information, 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 report on Form 10-QSB for the quarter ended September 30, 2007. 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.
Chad Griffin Consulting, Inc.
Jordan Markwith, 310-888-3523
Daniel Schustack, 212-732-4300
Source: Advanced Cell Technology, Inc.