ALAMEDA, Calif.—(BUSINESS WIRE)—Advanced Cell Technology (ACTC), Inc. (OTCBB:ACTC – News), applying proprietary human embryonic stem (ES) cell technology to the emerging field of regenerative medicine, today announced that Chief Executive Officer William Caldwell IV has been appointed to serve as the Chairman of the Board in a unanimous vote by the Company’s directors.
Mr. Caldwell will assume the role of Chairman from Dr. Michael D. West, who will remain President and Chief Scientific Officer of Advanced Cell Technology. Dr. West, a recognized leader in the fields of embryonic stem cell science and regenerative medicine, will now focus his 100 percent of his duties on ACTC’s scientific programs.
“I want to thank Dr. West for his leadership at Advanced Cell Technology during his service as Chairman of the Board. We are all grateful for his current and continuing contributions,” said Mr. Caldwell. “My role as CEO with ACTC’s business and scientific teams has been extremely rewarding, and I welcome the Board’s support in their decision to expand my duties in the position of Chairman.”
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, please visit: www.advancedcell.com. For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/advanced_cell. To read or download Advanced Cell’s Investor Fact Sheet, please visit http://www.trilogy-capital.com/tcp/advanced_cell/factsheet.html. To view recent stock quotes and news, visit http://www.trilogy-capital.com/tcp/advanced_cell/quote.html.
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 March 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 Investor Relations Group
Investors: James Carbonara, 212-825-3210
Media: Bill Douglass, 212-825-3210
or
Financial Communications
Trilogy Capital Partners
Paul Karon, 800-592-6067
Paul Karon
800-592-6067