Worcester, MA, April 4, 2005 - William Caldwell, IV, Chief Executive Officer of A.C.T. Holdings, Inc. (OTC Bulletin Board: ACTH.OB), a biotechnology company applying stem cell technology in the promising field of regenerative medicine, announced today the appointment of James Stewart as Chief Financial Officer.
Mr. Stewart became the youngest partner at Ernst & Young, where during his 13-year tenure, he managed financial accounting and reporting, tax issues, financial systems, forecasting and litigation assistance for clients. Subsequently over the past 15 years, Mr. Stewart has held the position of CFO, COO or President at both public and privately-held, venture backed companies, many of which have been portfolio companies of either Warburg Pincus or Kleiner, Perkins, Caufield & Byers. Specifically, Mr. Stewart has experience within the Life Sciences industry through his roles as Chief Financial Officer at CN Biosciences, Inc. and Ventro Corporation. At CN Biosciences from 1995 to 1999, Mr. Stewart oversaw the Company's Initial Public Offering and Follow-on Offering, the delivery of eight consecutive quarters of meeting or exceeding Wall Street analysts' expectations, and ultimately the successful sale of the company to Merck KgaA Darmstadt. Among his achievements as CFO for Ventro Corporation, his financial experience led to a successful $130 million IPO, a $250 million Debt Offering and two substantial strategic acquisitions. Most recently, Stewart was focused in the evolving industry of corporate culture, ethics and governance as Chief Financial Officer for LRN.
"I am passionate about the opportunity to join Advanced Cell Technology. I am most excited to become a part of such a distinguished team of experts focusing on the emerging field of stem cell research and working together towards the development of treatments and cures for debilitating diseases and injuries,�? said James Stewart, who will begin his new position with Advanced Cell technology today.
"We are very fortunate to have someone with Stewart's extensive background in financial management and proven leadership in capital raising as ACT's Chief Financial Officer,�? said William Caldwell, IV, Chief Executive Officer of Advanced Cell Technology. "He has the ideal credentials and talents to help lead Advanced Cell Technology into the future.�?
A.C.T. Holdings, Inc., a Nevada corporation, is a biotechnology holding company who's wholly owned subsidiary, Advanced Cell Technology, a Delaware corporation, is applying stem cell technology in the emerging field of regenerative medicine. The company is currently headquartered in Worcester, Massachusetts.
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A.C.T. Holdings, Inc.
For more information about Advanced Cell Technology visit "www.advancedcell.com":http://www.advancedcell.com
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