Alameda, CA.—(BUSINESS WIRE)—January 5, 2006—Advanced Cell Technology, Inc.’s (OTCBB: ACTC) William M. Caldwell, IV, Chief Executive Officer, was interviewed by Bloomberg Television yesterday to comment on the effect the new Congress will have on stem cell funding in its first “100 Hours.” As part of an 8-point plan during this time period, Congress has promised to push legislation through that would increase government funding for stem cell research.
Mr. Caldwell spoke of his optimism: “Right now there are bills in front of Congress to expand the lines for stem cell research, but I’m hopeful that this Congress will be cognizant of the fact that this research needs funding. The most important segment of this funding needs to be the translation from the basic science into the development of therapies and products. This void needs to be addressed not only by the government but also by private industry, foundations and consumer groups.”
Advanced Cell’s commitment to driving therapies to the clinic was recently highlighted in the scientific journal Nature, in a study describing the use of retinal pigment epithelial (RPE) cells derived from the Company’s embryonic stem cells, in which vision function was rescued in blind rats. The Company expects to file an investigational new drug application (IND) with the FDA this year for its RPE program. The company expects, further 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.
“We’re encouraged with what’s happened over the last couple years, not only in California but just recently nationwide with the changes in Congress,” said Mr. Caldwell. “Funding stem cell research is a national issue, that should be funded by the National Institute of Health (NIH) and other branches of the government because they have the standards and the policies in place.”
Click to View Video of William Caldwell’s Interview with Bloomberg Television
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 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-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