| Advanced Cell Technology Appoints Paul K. Wotton, Ph.D, President and Chief Executive Officer | Industry Veteran to Lead Company's Growth and Clinical Expansion
MARLBOROUGH, Mass.--(BUSINESS WIRE)--June 24, 2014--
Advanced Cell Technology, Inc. ("ACT")(OTCBB:ACTC), a leader in the field of regenerative medicine, today announced the appointment of Paul Wotton, Ph.D., to the position of President and Chief Executive Officer. Dr. Wotton is a highly regarded veteran of the biopharmaceutical industry and has a track record of leading companies to clinical, financial and commercial success. Dr. Wotton joins ACT from Antares Pharma Inc. (NASDAQ:ATRS), where he served as President and CEO since October, 2008.
"We are very pleased to attract an executive of Paul's caliber. His experience in leading Antares from a biopharmaceutical company in early-stage clinical development to a commercial enterprise approaching profitability should prove invaluable as ACT moves its scientific platform through the clinic and focuses on commercial and partnership opportunities," said Michael Heffernan, Chairman of the Board of Directors of ACT. "With the vast majority of the legacy issues now behind the company, Paul is joining at an exciting time as we move our RPE program for the treatment of SMD/AMD into Phase 2 development. I would also like to thank the management team, led by Interim President Ted Myles, for their excellent leadership through this transition period."
Prior to joining Antares, Dr. Wotton was the CEO of Topigen Pharmaceuticals and prior to Topigen, he was the Global Head of Business Development of SkyePharma PLC. Earlier in his career he held senior level positions at Eurand International BV, Penwest Pharmaceuticals, Abbott Laboratories and Merck, Sharp and Dohme. Dr. Wotton received his Ph.D. in pharmaceutical sciences from the University of Nottingham. Dr. Wotton is also past Chairman of the Emerging Companies Advisory Board of BIOTEC Canada.
"I am delighted to join ACT at this pivotal time in its growth. The company is now ready to pursue its Phase II clinical trials for AMD and SMD, Phase I for MMD and to advance the novel programs in its pre-clinical pipeline," commented Dr. Wotton. "Cell based therapies are an exciting opportunity and ACT is at the forefront of these developments. I believe we have an incredible opportunity to bring these novel therapies to patients in need and I am very pleased to be part of this initiative."
About Advanced Cell Technology, Inc.
Advanced Cell Technology, Inc., (ACT) is a Marlborough, Mass.-based biotechnology company focused on the development and commercialization of human embryonic stem cell (hESC) and adult stem cell technology. The company's most advanced products are in clinical trials for the treatment of dry age-related macular degeneration, Stargardt's macular degeneration and myopic macular degeneration. ACT's preclinical programs involve cell therapies for the treatment of other ocular disorders and for diseases outside the field of ophthalmology, including autoimmune, inflammatory and wound healing-related disorders. The company's intellectual property portfolio includes pluripotent stem cell platforms -- hESC and induced pluripotent stem cell (iPSC) -- and other cell therapy research programs. For more information, visit www.advancedcell.com.
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