Ruling Could Provide Tremendous Boost to Regenerative Medicine Industry
MARLBOROUGH, Mass. — May 2, 2011 – Advanced Cell Technology, Inc. (“ACT”; OTCBB: ACTC), a leader in the field of regenerative medicine, today issued a statement about Friday’s decision by the U.S. Court of Appeals for the District of Columbia on the legality of using federal funding for embryonic stem cell research. The ruling lifted an injunction which was imposed last year by a federal judge, who indicated that all embryonic stem cell research violated congressional spending laws.
Gary Rabin, interim chairman and CEO of ACT, read the statement:
“We applaud this federal court ruling and see it as a watershed moment for the regenerative medicine space. While ACT is not and never has been dependant on federal funding, we feel such funding is appropriate and could provide a tremendous boost to the industry. Many more researchers will hopefully now be able to engage in federally-funded research using our products, particularly stem cell lines derived using our patented “embryo-safe” blastomere technique for generating embryonic stem cells without damage to the embryo. We are very encouraged and will continue to work with the National Institutes of Health toward securing approval for federal funding of our embryonic stem cell lines derived using our blastomere technique.”
About Advanced Cell Technology, Inc.
Advanced Cell Technology, Inc. is a biotechnology company applying cellular technology in the field of regenerative medicine. For more information, 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-K for the year ended December 31, 2010. 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. There can be no assurance that the Company’s clinical trials will be successful.
James Young, 212-732-4300
ACT Corporate Communications
Bill Douglass, 646-450-3615
Martina Schwarzkopf, Ph.D., 212-845-4292