Alameda, CA, February 12, 2007 – Advanced Cell Technology, Inc. (OTCBB: ACTC) names Pedro Huertas, MD, PhD, as Chief Development Officer responsible for overseeing the development of the Company’s programs to create novel stem cell-based therapeutics, from the pre-clinical stage through clinical development and regulatory approval.
Dr. Huertas, who trained at Harvard-MIT, brings with him extensive experience in medicine, biotechnology start-ups and academic science. Most recently he was Chief Medical Officer at both StemCells, Inc. and Novazyme Pharmaceuticals, Inc. where he managed and directed medical, clinical and regulatory affairs for both companies. At Novazyme, Dr. Huertas positioned and developed the program that was the focus of the company’s $185 million acquisition by Genzyme Corporation, which gained FDA approval in 2006 for the first Pompe biotherapeutic agent. At StemCells, Inc. he crafted and filed a successful IND for human neural stem cell transplantation in neuronal ceroid lipofuscinosis.
William M. Caldwell, IV, Chief Executive Officer of Advanced Cell commented, “Dr. Huertas brings a rare combination of scientific excellence and proven business experience in the biotechnology industry to Advanced Cell, and we are fortunate to have him join us at this very important juncture in our Company’s development. His expertise will be an invaluable asset to the Company as we accelerate our efforts to develop and commercialize medically valuable stem cell-based therapies and products.”
Dr. Huertas said, “Embryonic stem cells are an enormously powerful platform in medical science and offer unparalleled promise in treating some of the cruelest diseases. I look forward to joining Mr. Caldwell, Dr. West, Dr. Lanza and the other members of the talented team, as we work together to develop Advanced Cell’s exciting therapeutic programs into the clinic and address the needs of many patients.”
Dr. Heurtas has served as a Director of Strategic Development for Genzyme Corporation where he filed a successful biologics license application (BLA) to register Fabrazyme™, which achieved worldwide sales of $305 million in 2005 for the treatment of Fabry disease. At Genzyme, Dr. Huertas also conducted a pivotal phase III multi-national trial for Fabry disease and managed its clinical portfolio in related rare genetic diseases.
Most recently, Dr. Huertas served as Chief Strategy and Development Officer at Amicus Therapeutics Inc., where he was recruited to design, implement and manage product development trajectory for pharmacological chaperones. At Amicus, Dr. Huertas was responsible for overall research and development, preclinical and clinical development activities, and also formed Scientific and Medical Advisory Boards. He also established and managed a network of academic, industrial and governmental thought leaders for Amicus.
Dr. Huertas received a Doctor of Medicine degree from Harvard Medical School/ Massachusetts Institute of Technology where he was awarded the Becton Dickinson Research Scholarship and James H. Robinson Memorial Prize in Surgery. He completed his Doctor of Philosophy in Cell and Developmental Biology from Harvard University and also holds a Masters in Business Administration from MIT’s Sloan School of Management. As a practicing physician, Dr. Huertas’ positions include appointments at McLean Hospital, Massachusetts General Hospital and Harvard University Health Services.
He is a member of the Sloan Fellows Board of Governors, Sloan School of Management at MIT. He is a Charter Member, Advisory Board, of the Division of Health Sciences and Technology Program at Harvard Medical School-MIT and Founding Member, and Member of the Board of Directors of the Biomedical Entrepreneurship Program, at the Sloan School of Management, MIT.
Advanced Cell Technology, Inc. is a biotechnology company applying 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 visit 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 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, 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
Source: Advanced Cell Technology, Inc.
James Carbonara
212-825-3210