Advanced Cell Technology Praises Federal Appeals Court Ruling Allowing for
Continued Federal Funding of Embryonic Stem Cell Research
Ruling Could Provide Tremendous Boost to Regenerative Medicine Industry
MARLBOROUGH, Mass., May 2, 2011 /PRNewswire via COMTEX/ -- Advanced Cell
Technology, Inc. ("ACT"; OTCBB: ACTC), a leader in the field of regenerative
medicine, today issued a statement about Friday's decision by the U.S. Court of
Appeals for the District of Columbia on the legality of using federal funding for
embryonic stem cell research. The ruling lifted an injunction which was imposed
last year by a federal judge, who indicated that all embryonic stem cell research
violated congressional spending laws.
Gary Rabin, interim chairman and CEO of ACT, read the statement:
"We applaud this federal court ruling and see it as a watershed moment for the
regenerative medicine space. While ACT is not and never has been dependant on
federal funding, we feel such funding is appropriate and could provide a
tremendous boost to the industry. Many more researchers will hopefully now be
able to engage in federally-funded research using our products, particularly stem
cell lines derived using our patented "embryo-safe" blastomere technique for
generating embryonic stem cells without damage to the embryo. We are very
encouraged and will continue to work with the National Institutes of Health
toward securing approval for federal funding of our embryonic stem cell lines
derived using our blastomere technique."
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
advancedcell.com.
Forward-Looking Statements
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-K
for the year ended December 31, 2010. 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. 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. There can be no assurance that the Company's clinical trials will
be successful.
Contact:
Investors:CEOcast, Inc., James Young, 212-732-4300
Press:ACT Corporate Communications, Bill Douglass, 646-450-3615or:Russo Partners,
Martina Schwarzkopf, Ph.D., 212-845-4292 |
