Comments on Legislative and Legal Environment for Scientific Research on "In Focus”
Alameda, CA.-- (BUSINESS WIRE)--April 27, 2007"Advanced Cell Technology, Inc.'s (OTCBB: ACTC) Senior Vice President and General Counsel, Jonathan F. Atzen, was interviewed by Bloomberg Television yesterday about the legislative and regulatory climate as it affects human embryonic stem cell (hESC) research and development, in a live, five minute interview on the new "in-house counsel�” segment of the popular show "in focus.”
Asked about the regulatory hurdles faced by Advanced Cell Technology and other human embryonic stem cell research entities, Mr. Atzen replied, "The difficulty in our business right now from a regulatory perspective revolves around the lack of federal regulation, or leadership, at the federal level. What we're really faced with now is the states filling in on the regulatory side, in terms of funding and in terms of the derivation of these materials.”
On the subject of state support of human embryonic stem cell research, particularly in California and Massachusetts, Mr. Atzen said, "Interestingly enough, and probably not by coincidence, we're headquartered in California and have a very important facility in Massachusetts, as well. These are two of the states that are most progressive.”
Asked if he sees more states becoming more supportive of hESC research, Mr. Atzen struck an optimistic note. He listed various states which have or are considering pro-stem cell research legislation, such as New York, Connecticut, and Illinois, and reflected, "This is a groundswell. It's a state effort that has taken the place of efforts on the federal level which have not taken effect yet.”
Mr. Atzen commented on stem cell patent law, as well, saying, "It's great to be a lawyer in the stem cell industry. Patent law obviously drives our industry… there's a great landscape of IP [intellectual property] out there right now. It's a competitive landscape, and we compete in it aggressively.”
Advanced Cell Technology recently announced a collaborative program with the Casey Eye Institute at the Oregon Health & Science University, on its leading indication, its retinal pigment epithelial (RPE) program. The company plans to file an investigational new drug application (IND) with the FDA for this program, which has been demonstrated to rescue vision in blind rats. Moreover, the company expects to file INDs for its hemangioblast cell lines for blood and cardiac disorder, and for its dermal cell lines for skin and wound repair, next year.
A streaming video of the interview will be accessible later today on Advanced Cell's website by "clicking here":http://www.advancedcell.com/media-gallery/.
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 annual report on Form 10-KSB for the fiscal year ending December 31, 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.
The Investor Relations Group
Investors: James Carbonara or Joseph Kessler, 212-825-3210
Media: Bill Douglass, 212-825-3210
Source: Advanced Cell Technology, Inc.