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Advanced Cell Technology Announces Upcoming Milestones at BIO Europe 2009

Posted : Tue, 03 Nov 2009 19:14:26 GMT
Author : Advanced Cell Technology, Inc.
Category : Press Release
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WORCESTER, Mass. - (Business Wire) Advanced Cell Technology, Inc. (Advanced Cell, ACT) (OTCBB: ACTC) announced today that its Chief Executive Officer, William Caldwell, IV, presented at the BIO Europe Conference being held in Vienna, Austria. The presentation provided a corporate overview and update on the Company’s plans for its clinical pathway in addition to several other upcoming developmental milestones, including its planned IND filing with the FDA for its retinal pigment epithelial (RPE) program prior to the end of this year, and its goal of becoming one of the first companies to treat a patient with an embryonic stem cell based therapy, which it hopes to achieve by the third quarter of 2010. Pending FDA approval, ACT hopes to commence Phase I clinical trials for its first IND designation in the summer of 2010, and anticipates filing an IND for an additional retinal indication in a similar timeframe.

“We are extremely pleased to have the opportunity to announce exciting upcoming corporate developments at such a prestigious gathering of Europe’s finest biotech organizations,” remarked William Caldwell, CEO of ACT. “We expect that this presentation will serve to greatly enhance our visibility within the international biotech community and could lead to further interest from potential strategic partners who would be interested in working with us in further developing our portfolio of potentially revolutionary regenerative therapies.”

BIO-Europe is Europe's largest partnering conference, serving the global biotechnology industry. The conference annually attracts top executives from the biotechnology, pharmaceutical and finance industries, along with the most exciting emerging companies. Produced with the support of BIO, it is regarded as a “must attend” event for the biotech industry.

About Advanced Cell Technology, Inc.

Advanced Cell Technology, Inc. is a biotechnology company applying cellular technology in the field of regenerative medicine. For more information, visit http://www.advancedcell.com.

Forward-Looking Statements

Statements in this news release regarding future ability to draw on the credit Facility, 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 its intellectual property, and economic conditions generally. Additional information on potential factors that could affect the Company’s results and other risks and uncertainties are detailed from time to time in the company’s periodic reports, including the report on Form 10-K for the year ended December 31, 2008. 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.

CEOcast, Inc. for Advanced Cell
Dan Schustack, 212-732-4300


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